Top Breakout Stocks for the next week!
Indian equity benchmarks reached new three-month highs on Friday as they surged for the third straight session, with gains seen in the majority of sectors.
The top indices rose as a result of gains in the financial, oil and gas, and IT sectors.
The index’s break above 17,000, a psychologically significant level that coincides with its 200-day simple moving average, is a positive sign for bulls.
Let’s Discuss some breakout stocks to trade in the next week.
1. HDFC Life
HDFC Life Insurance Company is engaged in carrying on the business of life insurance. The Company offers a range of individual and group insurance solutions. The portfolio comprises of various insurance and investment products such as Protection, Pension, Savings.
Private insurance companies are in limelight with their quarterly results outcome where SBI Life touched its all time high level and HDFC Life underperformed against nifty and its peers.
This counter made big bullish candle on daily chart with high volume and RSI above 50 indicating more upside till 580 and 620 in short time.
Accumulate if it come to retest at the level of 515-520 level with the major support of 495-500.
HEG Ltd is a leading manufacturer and exporter of graphite electrodes in India. It operates the largest single-site integrated graphite electrodes plant in the world.
The company offers various grades of graphite electrodes such as Ultra high power (UHP), high power (SHP), Regular power (HP) electrodes of various different lengths and diameters.
HEG breakout of its previous high level with heavy volume indicating more upside till 1246 and 1436 from the current level of 1176.
Accumulate in the range of 1140-1170 with the stop loss of 1035.
3. Coal India
Coal India Ltd is mainly engaged in mining and production of Coal and also operates Coal washeries. The major consumers of the company are power and steel sectors. Consumers from other sectors include cement, fertilizers, brick kilns etc.
Coal India breakout last three swing high and closed with 7% gain in the last week.
One can accumulate at retest level of 200-202 for the upside of 230 and 270 with the stop loss of 188-190. Stock can face hurdle at 217 level but closing above that level will push prices more higher.
4. The Ramco Cements
Ramco Cements Ltd is engaged in manufacture of cement, Ready Mix Concrete (RMC) and Dry mortar products. It primarily caters to the domestic market of India.
The company produces 12 types of cement for different uses. It also manufactures and sells dry mix products and ready mix concrete.
The counter has completed its U-shape recovery and came out above previous resistence level.
One can Accumulate in the range of 715-730 for the upside level of 800-815 with the stop loss of 670.
Long-term investors can add till 660-670.
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