JK Paper, Ajanta Pharma Breakout Watch: SEBI RA Dhruv Tuli Flags Bullish Charts

SEBI-registered analyst Dhruv Tuli has identified two stocks poised for a breakout on their weekly charts. He is bullish on JK Paper and Ajant Pharma, driven by their strong technical and momentum indicators, and sees swing trade opportunities for medium-term investors. 

 JK Paper

Dhruv Tuli spotted a strong breakout in JK Paper, with its stock price reclaiming key levels above both the 50- and 200-day Exponential Moving Averages (EMAs) on the weekly chart.

The combination of a volume confirmation and an RSI breakout from a multi-year downtrend indicates that bullish momentum is brewing in this small-cap stock.

Tuli adds that the previous resistance zone is now acting as support, and he sees a potential 35-40% upside from the current levels. It structure looks clean for a positional swing trade. 

Data on Stocktwits shows that retail sentiment is ‘extremely bullish’ on this counter.

JK Paper shares have fallen % 3year-to-date (YTD). 

 Ajanta Pharma

Tuli noted that Ajanta Pharma is consolidating under a clean falling trendline, now showing signs of a breakout. Technical indicators indicate that its support from both the 50-day EMA (₹2,626) and the 200-day EMA (₹2,034) remains intact, while the RSI establishes a long-term bullish base. If Ajanta Pharma breaks and closes above the trendline, it could trigger a fresh uptrend.

Volumes are picking up, and the bullish RSI divergence is a strong signal for accumulation. Tuli advises that breakout confirmation presents a buy-on-dips opportunity for medium-term targets. 

Data on Stocktwits shows that retail sentiment is ‘bullish’ on this counter.

Ajanta Pharma shares have fallen 10% year-to-date (YTD). 

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