Breakout stocks today: IRFC, RVNL, Axis Bank, Tata Motors, Ashok Leyland, SBI to BoB — 15 Nifty 50 stocks in focus

Breakout stocks today

Speaking connected the breakout stocks successful the Indian banal marketplace today, Aditya Gaggar, Director of Progressive Shares said, "The markets witnessed a nett booking league connected 26th April by ending the league little astatine 22,420. From the Banking space, Axis Bank (Falling Channel Breakout), IDFC First Bank (Flag and Pole Breakout), SBIN (Symmetrical Triangle Breakout), and Bank Baroda (On the verge of a breakout) look strong. Bullish Flag and Pole enactment breakout successful the Auto assemblage bespeak an hold of the existent inclination (Ashok Leyland- Lower Top Lower Bottom Breakout, Motherson Sumi- Inverted Head & Shoulder Breakout, Eicher Motors/ Escorts- Strong momentum, and Tata Motors/Tata Motors DVR- On the verge of a Symmetrical Triangle Breakout)."

"Coal India from the Energy conception is connected the brink of giving a breakout from an Inverted Head & Shoulder Formation. We person been optimistic astir the Metal assemblage for the past mates of weeks and proceed to clasp the same. Some of the Pharma stocks person fixed a beardown breakout and they are Biocon (Symmetrical Triangle Breakout), Divis Labs (Inverted Head & Shoulder Breakout), AuroPharma and Dr. Reddy (Bullish Flag and Pole Breakout), and JB Chemical (Rounding Bottom Breakout). Railway counters regained their mislaid momentum and we consciousness that beardown show tin beryllium expected from them (Ircon, IRFC, and RVNL- Inverted Head & Shoulder Breakout)," Aditya Gaggar of Progressive Shares added.

Asked astir the fundamentals of these 15 breakout stocks, Sandeep Pandey, Founder of Basav Capital said, "In the banking segment, SBI, BoB and Axis Bank stock are looking beardown whereas successful the car segment, Tata Motors and Ashok Leyland tin beryllium a bully worth pick. He said that Coal India shares tin beryllium a bully worth prime successful the PSU conception whereas railway stocks giving breakout connected Friday whitethorn proceed to stay an thought buy-on-dips railway PSU stocks."

Disclaimer: The views and recommendations made supra are those of idiosyncratic analysts oregon broking companies, and not of Mint. We counsel investors to cheque with certified experts earlier making immoderate concern decisions.

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Published: 29 Apr 2024, 10:34 AM IST