Sectorally, buying was seen in public sector, utilities, power, and realty stocks while some selling was seen in consumer durables, metal, and FMCG stocks.
Stocks that were in focus include names like Shriram Finance which was up more than 7% to hit a fresh record high, Canara Bank gained nearly 6% and RIL closed with gains of nearly 2% on Friday ahead of Q2 results.
We have collated a list of three stocks that either hit a fresh 52-week high, or 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: Sunil Gurjar, Founder Chartmojo, Author, CFTe
Shriram Finance (All-Time)
Shriram Finance is outperforming the Nifty50 index with a recent attempt at a breakout. The all-time high level (ATH) was breached by a gap (breakaway), indicating strong support between 1700 and 1740.
In recent days, the counter formed a declining broadening wedge, and the target was achieved. For a fresh upward move, the counter needs to clear the 2031 level.
Canara Bank (All-Time)
Canara Bank is outperforming the broader market and its sector. A sharp reversal with good volumes is visible on the chart. The counter is getting ready for a fresh breakout. The hurdle at 388 needs to be cleared.
![iMAGE 2 iMAGE 2](https://img.etimg.com/photo/msid-42031747/et-logo.jpg)
RIL
Reliance Industries is in a downtrend within a falling channel structure. A reversal at the channel support is observed on the charts.
It is advisable to wait for channel resistance at 2335 to be cleared for a fresh long position. If there is a breach of 2210 next week, it might test its base at the 2000 – 2050 level.
![IMAGE 3 IMAGE 3](https://img.etimg.com/photo/msid-42031747/et-logo.jpg)
Analyst Disclaimer: I’m not a SEBI registered advisor, please consult your financial advisor before investing any money. All of the above observations are shared for educational purposes only. Views mentioned are of the Analyst.
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(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)
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