Breakout Stocks of Week 27 @ NSE
NASDAQ was up last week (week 26) by 0.244% ending at 17,732.60 points after gaining 43.24 points during the week. Our system has detected some possible breakout stocks for the following week and these should be on your watchlist. These are the stocks that are bouncing up with good increase in volume and are likely to do good in short term. One of these stocks are BENCHMARK AMC ETF GOLD BeES/ETF NSE:GOLDBEES. This stock has had a buy signal since Jun 28, 2024 when the price was ₹60.63 , but have so far fallen 0% to ₹60.63. Some other companies are on our watchlist to, among these are SBI MF ETF GOLD/ETF GR FDS NSE:SETFGOLD Central Bank of India NSE:CENTRALBK UCO Bank NSE:UCOBANK and Mankind Pharma Limited NSE:MANKIND which all got a breakout pattern emerging.
| Date | Company | Price | Change |
|---|---|---|---|
| Benchmark Amc Etf Gold Bees/etf | ₹60.63 | ₹60.72 ( 2nd Jul 2024 ) | 0.148% |
| Sbi Mf Etf Gold/etf Gr Fds | ₹62.54 | ₹62.68 ( 2nd Jul 2024 ) | 0.224% |
| Central Bank Of India | ₹62.79 | ₹62.59 ( 2nd Jul 2024 ) | -0.319% |
| Uco Bank | ₹54.78 | ₹53.94 ( 2nd Jul 2024 ) | -1.53% |
| Mankind Pharma Limited | ₹2,129.20 | ₹2,129.10 ( 2nd Jul 2024 ) | -0.0047% |
The BENCHMARK AMC ETF GOLD BeES/ETF stock price gained 0.514% on the last trading day (Friday, 28th Jun 2024), rising from ₹60.32 to ₹60.63. During the last trading day the stock fluctuated 0.81% from a day low at ₹60.35 to a day high of ₹60.84. The price has risen in 6 of the last 10 days and is up by 0.07% over the past 2 weeks. Volume fell on the last day by -4 million shares and in total, 4 million shares were bought and sold for approximately ₹253.10 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
Several of the signals/indicators are negative, and we believe that this will affect on the development for the next days and maybe possible weeks. However, over time, we think that today's level holds a possible buying opportunity and that the price will be higher during or at the end of this 3-month period.
The SBI MF ETF GOLD/ETF GR FDS stock price gained 0.611% on the last trading day (Friday, 28th Jun 2024), rising from ₹62.16 to ₹62.54. During the last trading day the stock fluctuated 0.89% from a day low at ₹62.05 to a day high of ₹62.60. The price has risen in 6 of the last 10 days and is up by 0.48% over the past 2 weeks. Volume fell on the last day by -280 thousand shares and in total, 942 thousand shares were bought and sold for approximately ₹58.93 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
Several of the signals/indicators are negative, and we believe that this will affect on the development for the next days and maybe possible weeks. However, over time, we think that today's level holds a possible buying opportunity and that the price will be higher during or at the end of this 3-month period.
The Central Bank of India stock price gained 1.23% on the last trading day (Friday, 28th Jun 2024), rising from ₹62.03 to ₹62.79. During the last trading day the stock fluctuated 4.22% from a day low at ₹62.25 to a day high of ₹64.88. The price has fallen in 7 of the last 10 days and is down by -4.52% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 3 million more shares were traded than the day before. In total, 12 million shares were bought and sold for approximately ₹773.33 million.
Several of the signals/indicators are negative, and we believe that this will affect on the development for the next days and maybe possible weeks. However, over time, we think that today's level holds a possible buying opportunity and that the price will be higher during or at the end of this 3-month period.
About Central Bank of India:
Central Bank of India operates as a commercial bank in India. The company offers deposit products, which include savings and current accounts, time deposits, fixed deposits, and recurring deposit schemes, as well as small saving scheme; and loans, including housing, vehicle, property, personal, senior citizens, education, and agricultural, as well as micro small and medium enterprises loans. It also provides credit, debit, and prepaid/gift cards, as well as cash management, mutual funds, depository, mobile and Internet banking, and ATM services. In addition, the company offers corporate loans, such as project finance, infrastructure funding, financing to infrastructure investment trusts, short term corporate loans, advances, working capital facilities, line of credit, export finance, foreign currency loan, bills purchase/discount/negotiation facilities, non-fund based facilities, and facilities to other industries. Further, the company sells and distributes life, general, and health insurance products, including unit linked, whole life, children, money back, endowment, pension, health, property, personal, fire, burglary, engineering, motor, package, travel, and group insurance products, as well as protection and retirement solutions. As of March 31, 2022, it operated through a network of 4,528 branches; 2,976 ATMs; 10 satellite offices; and 1 extension counter. Central Bank of India has a strategic co lending partnership with IIFL Home Finance Limited to offer SME LAP loan products under priority sector to MSME borrowers. The company was incorporated in 1911 and is headquartered in Mumbai, India.
The UCO Bank stock price gained 1.07% on the last trading day (Friday, 28th Jun 2024), rising from ₹54.20 to ₹54.78. During the last trading day the stock fluctuated 3.30% from a day low at ₹54.29 to a day high of ₹56.08. The price has fallen in 7 of the last 10 days and is down by -3.79% for this period. Volume fell on the last day by -1 million shares and in total, 9 million shares were bought and sold for approximately ₹501.80 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
Several of the signals/indicators are negative, and we believe that this will affect on the development for the next days and maybe possible weeks. However, over time, we think that today's level holds a possible buying opportunity and that the price will be higher during or at the end of this 3-month period.
About UCO Bank:
UCO Bank provides a range of banking and financial services in India and internationally. It accepts deposit products, such as current accounts, saving accounts, salary accounts, fixed deposits, recurring deposits, accounts in foreign currency, salary accounts, and fee collection accounts. The company also provides agri, home, education, gold, personal, vehicle, and mortgage loans; finance to micro and small enterprises; working capital financing; term loans; infrastructure finance; and agriculture credit. In addition, it offers life, health, and general insurance products; credit and debit cards; internet banking services; and international banking services, including NRI banking, foreign currency loans, finance to exporters and importers, remittances, forex and treasury services, resident foreign currency deposits, and correspondent banking services to Indian customers, corporates, NRIs, overseas corporate bodies, foreign companies/individuals, and foreign banks. Further, the company provides government deposit schemes/bonds, pension payments/schemes, and tax collection services; merchant banking; and mutual funds. As of March 31, 2022, it operated 3072 domestic branches and 2 overseas branches. The company was formerly known as The United Commercial Bank Ltd. and changed its name to UCO Bank in December 1985. UCO Bank was founded in 1943 and is headquartered in Kolkata, India.
The Mankind Pharma Limited stock price fell by -0.279% on the last day (Friday, 28th Jun 2024) from ₹2,135.15 to ₹2,129.20. During the last trading day the stock fluctuated 2.30% from a day low at ₹2,105.10 to a day high of ₹2,153.50. The price has fallen in 7 of the last 10 days and is down by -4.95% for this period. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -346 thousand shares and in total, 428 thousand shares were bought and sold for approximately ₹911.88 million.
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Mankind Pharma Limited stock to perform well in the short-term.
Despite these candidates are looking good from a technical perspective they may not perform as expected. You should always be cautious when trading and base your decisions on more than one source of information. This does not constitute an offer or recommendation to buy or sell securities.
