Technical Breakout Stocks: How to trade Motilal Oswal, Nippon Life and D-Mart on Monday

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Domestic stock market snapped a 4-day losing streak to close in the green on Friday. The S&P BSE Sensex rose by about 600 points while the Nifty50 closed above 22,100 levels.

Sectorally, buying was seen in consumer durables, metals, banks while selling was seen in healthcare, IT and realty.

Stocks that were in focus include names like Motilal Oswal Financial Services which rose more than 7% to hit a fresh record high, Nippon Life India Asset Management was up more than 1% while D-Mart or Avenue Supermart closed with gains of nearly 2% to hit a fresh 52-week high.

We have collated a list of three stocks that either hit a fresh 52-week high, or an all-time high or saw a volume or a price breakout.

We spoke to an analyst on how one should look at these stocks the next trading day entirely from an educational point of view:

Analyst: Sanket Thakar, CMT, Founder- Alpha Bot Capital

Motilal Oswal:

Motilal Oswal remained calm and composed even after a panic gap down on Nifty on Friday and entered its all-time high levels with momentum.

The intraday and daily charts both are in strong uptrend and are soon expected to hit upside resistance levels of 2320-2407-2530. The support on the downside remains at 1955.