Breakout Stocks of Week 19 @ NSE
NASDAQ was up last week (week 18) by 1.43% ending at 16,156.33 points after gaining 228.43 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 Bajaj Finserv Limited NSE:BAJAJFINSV. This stock has had a buy signal since Apr 30, 2024 when the price was ₹1,615.00 and is so far up 0.762% to ₹1,627.30. Some other companies are on our watchlist to, among these are Krystal Integrated NSE:KRYSTAL Tips Industries Limited NSE:TIPSINDLTD Sun Pharmaceutical Industries Limited NSE:SUNPHARMA and Niit Learning Systems Limited NSE:NIITMTS which all got a breakout pattern emerging.
| Date | Company | Price | Week 19 |
|---|---|---|---|
| Bajaj Finserv Limited | ₹1,627.30 | ₹1,572.70 | -3.36% |
| Krystal Integrated | ₹756.95 | ₹727.80 | -3.85% |
| Tips Industries Limited | ₹441.55 | ₹424.25 | -3.92% |
| Sun Pharmaceutical Industries Limited | ₹1,511.15 | ₹1,506.55 | -0.304% |
| Niit Learning Systems Limited | ₹470.55 | ₹444.00 | -5.64% |
The Bajaj Finserv Limited stock price gained 0.734% on the last trading day (Friday, 3rd May 2024), rising from ₹1,615.45 to ₹1,627.30. During the last trading day the stock fluctuated 6.61% from a day low at ₹1,618.00 to a day high of ₹1,725.00. The price has risen in 6 of the last 10 days and is up by 0.51% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 4 million more shares were traded than the day before. In total, 5 million shares were bought and sold for approximately ₹8.50 billion.
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 Bajaj Finserv Limited stock to perform well in the short-term.
About Bajaj Finserv Limited:
Bajaj Finserv Ltd., through its subsidiaries, provides financial services in India. The company operates through Life Insurance, General Insurance, Windmill, Retail Financing, and Investments and Others segments. It offers personal, business, home, commercial, and gold loans; two and three wheeler loans; mortgages; unsecured and secured loans; loans against securities and properties; financing for products, such as consumer durable, digital, lifecare, furniture, etc.; and lease rental discounting products. The company also provides investment products, including fixed and term deposits, demat accounts, systematic deposit plans, and mutual funds; life, health, motor, car, two-wheeler, marine, home, crop, pocket, and travel insurance products; finance for professionals; savings products, wealth management and retirement planning services, and annuities; healthcare needs for the family; extended warranty, asset care, and financial fitness report services; and wallets and credit cards. In addition, it offers payments; SME finance products; and trading account, depository, margin trading, and HNI and retail broking services. Further, the company owns and operates 138 windmills with total installed capacity of 65.2 megawatts. Bajaj Finserv Ltd. was incorporated in 2007 and is based in Pune, India.
The Krystal Integrated stock price gained 3.67% on the last trading day (Friday, 3rd May 2024), rising from ₹730.15 to ₹756.95. During the last trading day the stock fluctuated 5.29% from a day low at ₹727.15 to a day high of ₹765.60. The price has fallen in 8 of the last 10 days and is down by -8.34% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 100 thousand more shares were traded than the day before. In total, 216 thousand shares were bought and sold for approximately ₹163.19 million.
Several short-term signals are positive and we conclude that the current level may hold a buying opportunity, as there is a fair chance for Krystal Integrated stock to perform well in the short-term period.
The Tips Industries Limited stock price fell by -0.697% on the last day (Friday, 3rd May 2024) from ₹444.65 to ₹441.55. During the last trading day the stock fluctuated 3.30% from a day low at ₹437.40 to a day high of ₹451.85. The price has fallen in 6 of the last 10 days and is down by -4.92% 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 -81 thousand shares and in total, 83 thousand shares were bought and sold for approximately ₹36.66 million.
Several short-term signals are positive and we conclude that the current level may hold a buying opportunity, as there is a fair chance for Tips Industries Limited stock to perform well in the short-term period.
About Tips Industries Limited:
Tips Industries Limited engages in the production and distribution of motion pictures; and acquisition and exploitation of music rights in India and internationally. The company operates in two segments, Music (Audio/Video) and Film Production/Distribution. It has a music library of approximately 29,000 songs across various languages and genres; and holds soundtrack copyrights of approximately 50 Hindi movies. The company also produces Hindi and Punjabi films. It operates through an owned distribution system. Tips Industries Limited was founded in 1975 and is based in Mumbai, India.
The Sun Pharmaceutical Industries Limited stock price fell by -0.517% on the last day (Friday, 3rd May 2024) from ₹1,519.00 to ₹1,511.15. During the last trading day the stock fluctuated 2.36% from a day low at ₹1,501.50 to a day high of ₹1,537.00. The price has risen in 5 of the last 10 days but is still down by -0.77% for this period. Volume has increased on the last day by 688 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 3 million shares were bought and sold for approximately ₹4.81 billion.
Sun Pharmaceutical Industries Limited holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.
About Sun Pharmaceutical Industries Limited:
Sun Pharmaceutical Industries Limited, a generic pharmaceutical company, develops, manufactures, and markets branded and generic formulations and active pharmaceutical ingredients (APIs) in India and internationally. The company offers formulations in various therapeutic areas, including central nervous system, dermatology, cardiology, oncology and ophthalmic, neuro-psychiatry, gastroenterology, anti-infectives, diabetology, pain/analgesics, vitamins/minerals/nutrients, respiratory, gynaecology, urology, ophthalmology, orthopaedic, nephrology, dental, and other areas. It also provides APIs for anti-cancers, peptides, steroids, sex hormones, and controlled substances, as well as over-the-counter products. Sun Pharmaceutical Industries Limited was founded in 1983 and is based in Mumbai, India.
The Niit Learning Systems Limited stock price fell by -0.654% on the last day (Friday, 3rd May 2024) from ₹473.65 to ₹470.55. It has now fallen 4 days in a row. During the last trading day the stock fluctuated 2.61% from a day low at ₹467.25 to a day high of ₹479.45. The price has been going up and down for this period, and there has been a -10.78% loss for the last 2 weeks. 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 -243 thousand shares and in total, 56 thousand shares were bought and sold for approximately ₹26.46 million.
Niit Learning Systems Limited holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.
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.
