Breakout Stocks: How to trade KFin Technologies, Newgen Software & Amber Enterprises on Friday

Sectorally, buying was seen in power, healthcare and auto stocks while selling was seen in banks, FMCG and metal stocks.

Sectorally, buying was seen in power, healthcare and auto stocks while selling was seen in banks, FMCG and metal stocks.

Stocks that hit fresh record highs include names like KFin Technologies which rose more than 7%, Newgen Software which gained over 5% and Amber Enterprises which closed with gains of over 8% on Thursday.

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

Here’s what analyst Sanket Thakar (CMT, Founder - Alpha Bot Capital) has to say:

KFintech is in a strong uptrend in both positional and intraday charts. In the short term, it is expected to reach 1,650 and 1,700 levels. Support levels below are at 1,500 and 1,425.

Newgen Software stock broke out of a Flag Pattern on December 23 on a 15-minute time frame and on Thursday, it reversed after achieving its full target.

The overall trend is still up, but due to profit booking, the stock may consolidate for a while before making its next up move.

Amber Enterprises has broken out of a Flag pattern and is aiming for 7,800–7,850 levels. Support below is at the 7,180 level.

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