VA Wabag, Avanti Feeds, Wonderla Among Top Breakout Picks With Upside Potential: SEBI RA

Indian markets have been in a consolidation mode over the past couple of trading sessions. As it awaits a trigger for a directional move, pockets of opportunity are emerging across various sectors.

SEBI-registered analyst Vinay Taparia shares his stock calls as we head into trade on Friday. 

Let’s take a look at his recommendations:

VA Wabag Technologies

VA Wabag Tech has given a small breakout with good volume. The stock has decisively closed above the 50-day Exponential Moving Average (EMA), and its Relative Strength Index (RSI) has also broken out, indicating strength. 

VA Wabag Tech can be bought at the current market price (CMP) and can be added more around ₹1,470 for targets of ₹1,680, ₹1,750, and ₹1,900. Exit on closing below ₹1,435; suggested timeframe of six months to one year.

Saraswati Saree Depot (SSDL)

SSDL saw a minor breakout on its daily chart, marked by a bullish candle with high volumes. Its RSI has also moved above 60. 

SSDL can be caught at CMP and ₹95 on declines for targets of ₹108, ₹120, and ₹132—exit on closing below ₹94; suggested timeframe of six months.

Avanti Feeds

Avanti Feeds saw a breakout from a small range with good volumes. 

The stock can be bought at CMP, and more positions can be added at ₹730 for targets of ₹790 and ₹845. Exit on closing below ₹715, for a suggested timeframe of three to six months.

Wonderla Holidays

Wonderla Holidays saw a break from its downward sloping trendline with increased volumes after forming a base. Its RSI has also broken out.  Wonderla can be bought at CMP and ₹635 on declines for targets of ₹710 and ₹790. Exit on close below ₹625; suggested timeframe of six to nine months.

Zaggle Prepaid Ocean Services

Zaggle is on the verge of a breakout, with RSI having broken out. The stock can be bought at the current market price for a target of ₹470. Exit on closing below ₹406, suggested timeframe of three months.

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