Stocks To Watch: ACC, Balkrishna Industries Show Breakout Signs On Charts

Shares of ACC and Balkrishna Industries have clocked weekly gains of 5–7%, drawing interest from SEBI-registered analysts. Their technical charts are suggesting a possible breakout, with fresh rallies in the week ahead. 

Let’s take a look at the recommendations in detail:

ACC

ACC shares have gained 5% in the last one week. SEBI-registered analyst Financial Sarthis highlighted that ACC has formed a base with multiple bottom support seen around ₹1,760–₹1,770, a zone that has been tested thrice since 2023. 

Additionally, a strong ascending trendline support, starting from 2020 lows, has formed a long-term bullish structure. Currently, the price is consolidating above this confluence zone, signaling a potential base formation, they added. 

According to Financial Sarthis, the stock price is holding firmly above the multi-year trendline and horizontal support near ₹1,765. The overall chart structure resembles a multi-bottom formation. 

On the downside, a close below ₹1,780 would be a cause for concern. On the upside, if ACC manages to break above ₹1,940, it could trigger a rally to potential targets of ₹2,050 and ₹2,150.

Year-to-date (YTD), the stock has fallen 5%. 

Balkrishna Industries

Balkrishna Industries shares have gained 7% in the past week. Analyst Sameer Pande flagged that the stock has seen a breakout on the supertrend. Balkrishna Industries is trading above the volume-weighted average price (VWAP), with its Relative Strength Index (RSI) around 64. 

On weekly charts, the stock has seen support near the ₹2,400 level, with it now gliding towards ₹2,800, which is likely to act as resistance. Pande suggests maintaining a stop loss on a closing basis at ₹2,480, with a target price of ₹2,790 to be achieved by the end of July.

The stock has fallen 12% (YTD).

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