From Network18, Tata Chemicals To Repco Home Finance: SEBI RA Recommends Ten Breakout Stocks For Multi-Month Gains

From cup-and-handle patterns to inverted head-and-shoulders formations, several mid-cap stocks are flashing bullish breakouts with high technical indicators and volume support. 

SEBI-registered analyst Vinay Taparia has shared these trade recommendations on Stocktwits. Let’s take a closer look: 

Shivalik Rasayan

Shivalik stock has given a small double bottom break out with good volume. Its Relative Strength Index (RSI) also moved above 60, indicating strength. The stock can be bought at current market price and at near ₹565 on decline for targets of ₹630 and ₹690. Exit on daily close below ₹550.

Network18 Media & Investments

Network18 stock has given a cup and handle breakout with huge volume on daily chart. Its RSI has also moved to near 70. Since the stock has already moved up quite fast, he advised buying in a staggered manner. One can buy this stock at current market price and add more on decline at ₹59 for targets of ₹77 and ₹85. Exit on closing below ₹56 for a trading timeframe of six months to one year.

Max India

Max India is consistently taking support on its upward moving trendline and finally managed to move out of the upper end of the downward sloping channel with huge volume. RSI is also above 60 which is a sign of strength. The stock can be bought at current market price (CMP) and on decline till ₹190 for targets of ₹220 and ₹245. Exit on closing below ₹184, for a suggested trading timeframe of six months

KCP Limited

KCP stock has given a small breakout at lower level with huge volume. The RSI has also broken out. It can be bought at CMP and at ₹204 on decline for targets of ₹230, ₹245 and ₹265. Exit on closing below ₹197. Suggested trade timeframe is six months to one year.

SH Kelkar and Company

SH Kelkar stock is consistently trading above the neckline of an inverted head and shoulder breakout level, which happened two months ago. The stock has experienced a small breakout during Wednesday’s trading session, accompanied by increased volume. The stock can be bought at CMP and ₹236 on decline for a target of ₹256 and ₹280, which is also the pattern target of the previous breakout. Exit on closing below ₹233 is suggested for a suggested timeframe of six months.

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Laxmi Organic Industries

Laxmi Organic has shown a breakout with increased volume. The stock has also taken support near the previous breakout level. The stock can be bought at CMP and ₹196 on decline for the target of ₹222 and ₹245. Exit on closing below ₹193, suggested timeframe of 1 year.

United Breweries 

UBL has consistently taken support at the upward moving trendline and finally broke out on the upside. Stock can be bought at CMP and at ₹1,970 on decline for the target of ₹2,130 and ₹2,250. Exit on closing below ₹1,955; suggested timeframe of six months to one year.

Tata Chemicals

Tata Chemicals has given a good breakout on the daily timeframe. Can be bought at CMP and ₹915 on decline for a target of ₹995 and ₹1,095, exit on closing below ₹895 — suggested timeframe of six months.

Repco Home Finance

Repco Home Finance has consistently taken support at the upward moving trendline and finally broke out on the upside, with its RSI near 70. Stock can be bought at CMP and at ₹435 on decline for a target of ₹522 and ₹595. Exit on closing below ₹425. Suggested timeframe of six months to one year.

Platinum Industries

Platinum Industries has given a small breakout with huge volume. RSI is also above 60 level. Stock can be bought at CMP and at further declines to ₹280 for a target of ₹313, ₹350 and ₹385. Exit on closing below ₹270. Suggested timeframe of 1 year.

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

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