Breakout Stocks To Watch: SEBI RA Flags These Six Stocks With 15-30% Upside Potential

From breakouts and morning star patterns to wedge formations and trendline supports, technical charts are flashing green for six stocks, including Maharashtra Seamless, Ramco Systems, Happy Forgings, and others. 

SEBI-registered analyst Vinay Taparia has identified these stocks as having potential for strong upside in the short to medium term. 

Let’s take a look at his recommendations:

Maharashtra Seamless

Maharashtra Seamless has taken support at an upward-moving trendline and has formed a morning star pattern. The stock can move to ₹772 and ₹815 levels in the short term. But a close below ₹700 negates this view.

Ramco Systems 

Ramco Systems has formed a small bullish wedge on the daily chart and has given a good breakout. The stock is expected to move to ₹450-₹495 in the short term. A close below ₹476 invalidates this view.

Happy Forgings

Happy Forgings has taken support at an upward-moving trendline and formed a good bullish candle. The stock is expected to rise to ₹1,072-₹1,132 over the next 12 months. A close below ₹920 negates this view.

Genus Power Infrastructures

Genus Power has taken support at an upward-moving trendline. The stock is sustaining above 50 and 200-day Exponential Moving Average (EMA). The stock can move to ₹424-₹455 in nine to twelve months. But a close below ₹353 invalidates this view.

Coral India Finance & Housing

Coral Finance has given a good breakout on daily chart with good volume. Its Relative Strength Index (RSI) is also reached near 70. The stock is expected to move to the ₹58-₹65 level over the next six to nine months. A close below ₹44 invalidates this view.

GE Vernova T&D India

GE Vernova has closed at an all-time high with good volume on Wednesday. The stock can potentially move to ₹3,000 in nine to twelve months; however, a close below ₹2,350 would negate this view.

For updates and corrections, email newsroom[at]stocktwits[dot]com.

Share

·

Add us on