Sectoral Watch - Technical Breakout Stocks: How to trade HPCL, MCX and UTI AMC on Thursday

Introduction

In a major technical breakout witnessed on Wednesday, shares of HPCL, MCX and UTI AMC rallied over 5-6% each. This bullish momentum is likely to continue in the near term, making these stocks lucrative trading opportunities.

HPCL: Buy at CMP

HPCL is one of the country's largest oil and gas companies. The stock has been consolidating in a range for the past few months but has finally broken out on the upside. This breakout is likely to attract more buyers, leading to further gains in the stock price.

MCX: Buy Above 1550

MCX is India's leading commodity exchange. The stock has been trading in a narrow range for the past few weeks but has recently broken out on the upside. This breakout is likely to attract more buyers, leading to further gains in the stock price.

UTI AMC: Buy Above 750

UTI AMC is one of the country's largest asset management companies. The stock has been trading in a range for the past few months but has finally broken out on the upside. This breakout is likely to attract more buyers, leading to further gains in the stock price.

Conclusion

The technical breakout witnessed in HPCL, MCX and UTI AMC is a positive sign for these stocks. Traders can look to buy these stocks either at the current market price (CMP) or above the breakout levels. These stocks are likely to continue to rally in the near term, making them lucrative trading opportunities.