Here’s the list of stocks that have broken out in 2019 and where they stand today. These are the stocks that trade with good volumes. The list will help you understand the following
- Where they stand
- How they broke out
- The stocks that present Opportunities as of today
Axis Bank: Large Cap Breakout
Source: Chartalert.com
Axis Bank stock broke out above 640 in Jan 2019. The stock initially rallied to 820 by June 2019 i.e. 28% rally but then it sold off and quickly came back to 640 levels again by August 2019. Axis Bank took support at breakout point and has rallied again to 732. It’s just 14% higher from the breakout point. The stock broke out in Jan 2019 and now 11 months later – the stock is up just 14%. Breakouts can be slow and steady in the beginning but as time progresses it will just take on the leadership role and might surprise on the upside. The best time to buy the stock was when it traded between 640-670 band.
HDFC AMC: Limited Price Breakout + Bullish Theme Non-Lending Financial Services
Source: Chartalert.com
Financial Services has been the most bullish theme in 2019 and HDFC AMC has been the leader of the pack. It broke out from the limited price history in July 2019 above 1900 and the stock has literally doubled in the last 5 months. This is the kind of breakout everybody dreams. The stock has already run away and now one should patiently wait to buy if there is any substantial decline due to market conditions
It’s not only HDFC AMC, but HDFC Life and Reliance Nippon AMC has seen runaway momentum and these stocks now need to trade sideways or correct before they can be added to any investment/trading portfolio. ICICI Prudential can be a great buy near 440-460/ 100 dma
SBI LIFE: Limited Price Breakout + Bullish Theme Non-Lending Financial Services
Source: Chartalert.com
Non Lending Financial Services theme has helped SBI Life breakout from a limited price history. The performance post-breakout has been impressive and so Carlyle Group which invested in March this year is taking some profit which resulted in price pressure this week. SBI Life is a joint venture between State Bank of India and French multinational bank BNP Paribas. The stock can be a good buy around 860-880 levels. There is a secular bullish theme and hence the stock will find buyers at lower levels
SIEMENS: Breakout in Capital Goods space
Source: Chartalert.com
Siemens stock saw a pretty well-defined breakout on the chart. Now over the last few days, it has sharply come down and it looks an excellent opportunity to buy the stock at current levels. Ideally, if this breakout has to hold, the stock should find support here. A sell-off here means the stock can decline to 1330 which earlier was the resistance and is the final support for this breakout
Indraprastha Gas: Breakout in Gas distribution space
Source: Chartalert.com
Gas distribution has been a strong bullish theme in 2019. IGL stock has seen a very well defined breakout above 340 and I have covered this stock many times with buy report around 365 levels. The company recently has been added to the MSCI India index. It looks like a good stock to hold. Nobody knows the future and there will be lots of noise and I can only recommend just be focussed and have hope 🙂
Petronet: Breakout in Gas distribution space
Source: Chartalert.com
Gas distribution has been a strong bullish theme in 2019. Petronet stock also broke out and there was hope but lots of conflicting news post-breakout seems to have dampened the sentiment and we will wait and see how the story unfolds.
Apollo Hospital + Fortis: Chaotic Breakout + Upside Resistance
Apollo Hospitals Chart
Source: Chartalert.com
Ideally, you want to see a clean breakout. Apollo Hospital stock is anything but a clean breakout. The stock had a resistance around 1400 which it cleared but it has another upside resistance at 1550. The reason I have shared this early because there is a bullish theme behind Healthcare services space and that might help the stock to clear the resistance.
Fortis Chart
Source: Chartalert.com
The stock has become news driven and hence breakout can be messy and noisy for time being.
Lalpath Labs: The stock that triggered breakout in Healthcare services space
Source: Chartalert.com
Lalpath Labs stock was the first one to breakout in healthcare space and even though breakout was not clean, it did manage a nice bullish move upwards. The breakout is not clean and hence one should wait for the stock to offer another opportunity again
Just Dial: Breakout that failed eventually 😥Â
Breakout is a BUY and RIDE Investing system. Investors buy with a hope that things will get better with time and the patience will be rewarded but there are times that it only leads to heartbreak and disappointment.
Source: Chartalert.com
Just Dial stock was a great breakout from a very well defined resistance and the stock did rally from levels of 620 to 820+. It was a 32% move but then the stock formed Exhaustion double top and pulled back only to break the support levels of 620 and now has sunk to 550 levels
Container Corp: Bullish Chaotic and Breakout in a question mark?
Source: Chartalert.com
Container Corp stock seems to be caught up in mess with too many resistances on the upside. In 2015, the stock declined from 620 to 340. It rallied in 2017 from 340 to 480 and then declined again to form a double bottom at 340. This time in 2017 it rallied to 600 and then formed a Bullish base at 460. It recently rallied to 620 again and there was a hope of longer-term breakout but unfortunately, the stock stalled once again and pulled back. Is the stock standing at support because weakness here will result in widespread disappointment and short term underperformance in the stock
Berger Paints Breakout
Source: Chartalert.com
This has been one of the most impressive breakout in 2019. The stock has made a vertical move and hence it’s likely that the stock might pullback or trade sideways to let moving averages and earnings to catch up for now
Voltas Breakout
Source: Chartalert.com
Voltas has been picture-perfect breakout. The stock broke out above 660 and since then has been holding that level which is very encouraging for the future. I covered it when it pulled back to 660.
RITES Breakout: Bullish on Railway theme
Source: Chartalert.com
RITES stock broke out above 250 and since then the stock has done everything right. It’s holding the breakout level and moving higher
MCX Breakout on move
Source: Chartalert.com
MCX stock broke out above 900 and since then the stock has done everything right. It’s holding the breakout level and moving higher
Max Financial Services Breakout: Bullish on Financial Services theme
Source: Chartalert.com
A breakout that has sectoral momentum behind it does great performance. Max Financial Services large candle breakout seems to be on the right track.
Granules Breakout recovery mode
Source: Chartalert.com
Granules stock made a huge momentum move from 50 dma and with this move has broken out above 120. The stock now on every dip should take support at 50 dma and eventually head higher.
Suven on verge of multiyear Breakout
Source: Chartalert.com
Suven has a picture-perfect chart and a very well defined resistance at 330 and with volume building up near the resistance, it looks like an explosive breakout is on the cards. One can buy the stock with closing stop loss below 280 and hope for 65 to 100% upside over the next 12 months.
AU Bank Large Candle Breakout
Source: Chartalert.com
AU Bank has made a Large Candle move. The Chart looks super attractive and very attractive buy at current market prices
IndiaMart Large Candle Breakout
Large Candle Breakout usually results in strong follow-through breakout moves. IndiaMart did the same. I covered when the stock made that large candle move
Polycab: Limited Price History Breakout
Source: Chartalert.com
Polycab stock managed a breakout from limited price history and has surprised everyone with sharp upside.
Orient Electric: Breakout + Bullish Consolidation
Source: Chartalert.com
Orient Electric stock has seen a clear breakout from a well defined resistance. Any pullback now to 175-184 is a great opportunity to accumulate before the stock rallies
Kansai Nerolac: Breakout + Bullish Consolidation
Source: Chartalert.com
Paint has been one Bullish Category and after Berger Paints big bullish move, there is a hope that Kansai Nerolac can also surprise on the upside as long as it supports 480-485 levels. Ideally, it should hold even current levels. Kansai Nerolac made all-time high of 610 in Dec 2017
GSK Consumer: Breakout on move
Source: Chartalert.com
GSK Consumer broke out and I covered it back when it happened and the stock has made nice steady bullish move
Praj Ind: Breakout that failed eventually 😥Â
Breakout is a BUY and RIDE Investing system. Investors buy with a hope that things will get better with time and the patience will be rewarded but there are times that it only leads to heartbreak and disappointment.
Source: Chartalert.com
Praj Ind stock broke out above 120 after a long long time and it did raise hope but it seems the market condition weighed heavily on the stock and it pulled back. Can it take support around 90-100 levels and once again rally higher? Too much to hope for
Opportunities as of today
The stocks that look attractive at current market prices: 1. AU Bank; 2. Suven; 3. Orient Electronics and 4. Apollo Hospitals.
Please do your own due diligence and study before making any investment decision