Swiggy, Finolex Cables, Welspun Living, V-Mart Retail, Carbo
Five stocks flagged for breakout potential by Choice Broking's Sumeet Bagadia
Sumeet Bagadia, Executive Director at Choice Broking, has identified five stocks showing technical breakout patterns in a volatile market environment. He highlights Swiggy as having broken above a symmetrical triangle pattern on the daily chart with supporting volume, sustaining above both 21-day and 50-day EMAs, and targeting 311 if it holds above the 270 risk level.
Finolex Cables is noted for maintaining a bullish structure with higher highs and higher lows, breaking above the previous week’s high on increased volume, and sustaining RSI above 60, with a target of 1,610 if it remains above the 1,395 risk level.
Welspun Living is cited for achieving a fresh all-time high breakout on the daily chart with rising volume and RSI above 60, with 211 as the protection level and a potential move toward 242. On the hourly chart, it shows an ascending triangle breakout, holds above the 50-day EMA, and exhibits bullish RSI divergence on the daily chart, targeting 115 if it holds above the 99 support zone.
Carborundum Universal is described as having a bullish continuation setup from a pennant pattern on the daily chart, trading above both 21-day and 50-day EMAs, with RSI above 60, and targeting 1,325 if it sustains above the 1,150 risk level.
V-Mart Retail is mentioned in the list of stocks but no specific technical details are provided in the source material regarding its breakout setup, targets, or risk levels.
The views expressed are those of the analyst and not of Mint. Investors are advised to consult certified experts before making investment decisions.
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