5 Breakout Stocks: Ahead of a lifetime high opening


A breakout is defined as price movement above or below a predefined level. A breakout backed by a surge in volumes is considered to be more reliable to act upon.

A trader trading on the basis of breakouts would consider entering a long position once price moves above a resistance level or would consider a short position after price falls below a support level.

The reason breakout chart patterns have gained popularity is they are easy to identify, frequent in occurrence and are the starting point for a reversal in trend or continuation accompanied by a surge in volatility.
With Nifty index opening on a fresh lifetime high, following is the list of stocks that are on a verge of giving a fresh technical chart pattern breakout:


SymbolCMPChart PatternView Potential Move
Syndicate BankRs 72.3Double Bottom BreakoutBullish~+15%
Gujarat State Fertilizer Ltd.Rs 145.75Ascending Triangle BreakoutBullish~+7%
RallisRs 252.65Flag BreakoutBullish~+10%
Indian BankRs 270.25Double Bottom BreakoutBullish~+8%
KSCLRs 573.15Double Bottom BreakoutBullish~+5%

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