Weekly Breakouts 22nd April 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 upmove 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 22^nd April 2022.

Apcotex Industries

Apcotex Industries is a leading producer of Synthetic Rubber (Nitrile Rubber, High Styrene Rubber, Nitrile Polyblends and Nitrile Powder) and Synthetic Latex (XSB Latex, VP Latex, Styrene Acrylics and Nitrile Latex) in India. The company has one of the broadest range of Emulsion Polymers available in the market today.

The stock has broken above its previous highs and registered 7 times higher volumes on the breakout. 

Borosil Renewables

Borosil Renewables Limited promoted by well-known Borosil Limited, pioneers in specialty glass products. It is the first and only solar glass manufacturer in India with an annual capacity of 2.5 GW (low iron textured solar glass). In other words, it has a tempered solar glass capacity of 450 metric ton per day.

The stock has broken above its previous high with 14 times higher volumes on the breakout.

Reliance Industries

Reliance Industries is one of the largest Indian conglomerates with interests in oil and gas, retail, and telecom. Since almost a year since Reliance Industries outlined its foray into new energy solutions through four Giga factories – a) integrated solar photovoltaic factory, b) advanced energy storage, c) electrolyzers manufacturing facility, and c) fuel cells. Reliance Industries is also amongst the companies with highest market capitalisation in the Indian stock market.

The stock price has broken the previous high from six months ago with 3 times volume on the breakout.

Time Technoplast

Time Technoplast is a leading manufacturer of polymer-based packaging & composite products with 34 production facilities in 11 countries. Established products (industrial packaging, PE pipe, battery others) contribute about 80% of the sales while value added product category (IBC, composite cylinders, mox films) contributes the remaining 20%.

The stock price has broken out above the previous highs with 3.5 times volumes on the breakout. 

Vinati Organics

Vinati Organics is a leading manufacturer of specialty chemical and organic intermediaries with global market leadership in its two key products- 2- Acrylamido 2 Methylpropane Sulphonic Acid (ATBS) and Isobutyl Benzene (IBB). Starting with IBB and subsequent forays into IB, ATBS, Butyl phenols, the company is now expanding into antioxidants as well.

The stock has broken out over the previous highs made over a year with 5 times higher volumes on the breakout.

Note – This channel is for educational and training purpose only & any stock mentioned here should not be taken as a tip/recommendation/advice

Research done by: Ketan Sonalkar, SEBI Rgn No INA000011255