Weekly Breakouts 27 May 2022

Technical charts 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.

This week saw the Nifty 50 closing 1.13% higher than last week, continuing the uptrend after a 3% rise last week. Some stocks have given a positive breakout as the markets started moving higher. Based on a software programme, we have identified stocks that have given a ‘breakout’ on the week ending 27th May 2022.

Accuracy Shipping

Accuracy Shipping Ltd is involved in providing third party logistics solutions. It offers customized and end-to-end logistics solutions and services including transportation distribution, freight forwarding, clearing and forwarding services, custom house clearance, warehousing and value added services.The price volume breakout indicates the stock is likely to make newer highs in the coming weeks.

Accuracy Shipping breaks out of its three month range with a 9X increase in volumes

 

Apar Industries

Apar Industries manufactures products such as transformer oils, industrial oils and lubricants, liquid paraffins and white oils, rubber processing oils and ink oils. The breakout this week suggests that price is likely to move north after a brief period of consolidation within a range.

Apar Industries breaks out of a range and is trading above the 50 EMA

HDFC Life

HDFC Life is among the leading private life insurance players in the India. Its strengths lie in its strong distribution network, parentage, operating metrics. After a steep fall since September 2021 till March 2022, the stock during April and May 2022 is showing signs of reversing the trend. It is likely to confirm the uptrend with an upward price movement in coming weeks.

HDFC Life breaks out of a range and is beginning to form an uptrend on the charts

Mahindra & Mahindra (M&M)

Mahindra & Mahindra Ltd. (M&M) manufactures automobiles, farm equipment and automotive components. The company also manufactures agricultural tractors, agricultural implements and agricultural engines. It is more well known for the iconic SUV brand Scorpio. M&M’s price is now above the resistance level of 950 which was not broken since February 2021. An upward now from here will see the stock touch new highs.

M&M breaks out of a one and a half year price range with 2 X higher volumes

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