Weekly Breakouts 09th 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.

Despite this week seeing a fall in most stocks and Nifty 50 closing 4% lower than last week, some stocks have given a positive breakout in these market conditions also. Based on a software programme, we have identified stocks that have given a ‘breakout’ on the week ending 06th May 2022.

ABB

ABB India manufactures heavy engineering and industrial equipment and undertakes engineering and construction projects. The company operates mainly through the Robotics & Motion, Electrification products and Industrial Automation segments. It is well placed to gain from the overall energy market transformation from electrification to automation & digitisation.

Gallant Ispat Gallant Ispat is a north India based iron and steel manufacturer. Its products are mainly used for building construction purposes.

Gokaldas Exports

Gokaldas Exports  is one of India’s leading apparel exporters with an annual capacity of more than 30 million pieces. It has an impressive clientele of leading international brands with ‘GAP’ and ‘H&M’ being amongst its major clients.

Tata Chemicals

 

Tata Chemicals is the world’s third largest producer of soda ash with manufacturing facilities in Asia, Europe, Africa, and North America. It also has a strong focus on consumer, agriculture and specialty businesses.