Breakout Stocks: How to trade HDFC Bank, Praj Industries and Kaynes Technology on Wednesday? – Market Summary

The stock made a high of 6145 today, achieving a new lifetime high. We advise investors to book profits at this level and look to re-enter near the 200 EMA.

Avoid getting trapped at higher levels, as the stock is likely to retrace to meet its 200 EMA, which would be a good entry point.

The current level of the 200 EMA is 4255, but this line will keep moving up. Whenever the stock aligns with this level, consider entering again.

Technically, the daily chart is also in a range, as drawn. Therefore, book longs and wait for a re-entry.Analyst Disclaimer: Do consult your financial advisor before taking any action as levels shared are for learning purposes only.

Analyst Disclaimer: Do consult your financial advisor before taking any action as levels shared are for learning purposes only.

(Disclaimer: Recommendations, suggestions, views, and opinions given by experts are their own. These do not represent the views of the Economic Times)