Weekly Breakouts 01st May 2022

Technical charts often give a sense of what is the likely future direction of any stock. One of the most common ways of identifying stocks with potential upside is reading charts and identifying the trends and price movements.

It has been seen that when stocks cross their previous highs along with increased trading volume, there is a strong probability of a sharp up move in the stock over the next few days. Based on a software programme, we have identified stocks that have given a ‘breakout’ on the week ending 29^th April 2022.

CRISIL

CRISIL (Credit Rating Information Services of India Ltd), is a global analytical company providing ratings, research, and risk and policy advisory services. The company is India’s leading ratings agency and the provider of high-end research to the world’s largest banks and leading corporations. It operates its business through two segments namely ratings and research

Mahindra CIE Automotive

Mahindra CIE Automotive, is a collaboration between Mahindra and Spain-based CIE Automotive Group. is a multi-product automotive component supplier. Mahindra CIE Automotive is one of the top global forging players with a strong presence in both Europe and India. Currently 2/3rd of the revenue comes from Europe, while the rest is from India.

RIIL (Reliance Industrial Infrastructure)

RIIL is a company is a group company of the Reliance Industries group. It is mainly engaged in the business of setting up/operating industrial infrastructure. Its main activities are providing services of transportation of petroleum products and raw water through its pipelines, construction machinery on hire and other infrastructure support services. The company has its operations mainly in the Mumbai and the Rasayani regions of Maharashtra, Surat, and Jamnagar belts of Gujarat.

Schaeffler India

Schaeffler India is the Indian arm of the US multinational Schaeffler group. The company manufactures auto components such as clutches, timing kits, wipers, and other parts. It also manufactures ball bearings of all types for automotive and industrial purposes. Schaeffler India was previously known as FAG Bearings India Ltd. The company’s manufacturing facilities are located at Maneja and Savli near Vadodara Gujarat.