Breakout Stocks: How Apar Industries, Varun Beverages and TVS Motor are looking on charts for Wednesday’s trade
Sectorally, buying was seen in telecom, FMCG, auto, and realty stocks while selling was seen in IT, banks, and consumer durable stocks.
Stocks that were in focus include names like Apar Industries which was up nearly 7%, Varun Beverages closed with gains of over 4% and TVS Motor Company rose nearly 1% to hit a fresh all-time high on Tuesday.
We have collated a list of three stocks that either hit a fresh 52-week high, or all-time high or saw a volume or a price breakout.
We spoke to an analyst on how one should look at these stocks the next trading day entirely from an educational point of view:
Analyst: Hariprasad Kizhakkethara, SEBI Registered RA (INH200009351), Director of Livelong Wealth.
Varun Beverages
On Tuesday, Varun Beverages stock went up to 5% in a single day. The overall sentiment of this stock is bullish time and has gained since its listing.
The stock has been moving in a channel pattern since December 2022.
Now it has given a breakout from the channel pattern heading toward its next target which is of Rs 1,016 level as target 1 and Rs 1,074 level as target 2.
The stock has been experiencing good buying pressure and it has crossed 50-MA in the volumes chart.
From a business perspective, the stock is doing fundamentally very good. The top line (Sales) has been growing at a rate of 40% on a year-on-year (YoY) basis.
The net profit has also doubled on a (YoY) basis with a rate of 140% compared to the past 3-year average.
TVS Motors
On Tuesday, the stock recently made its all-time high by breaking a strong resistance zone of 1,517-1,525 level with the strong bullish green candle.
The stock was resisting from its zone of 1,517-1,525 and made a retracement before breaking the strong resistance.
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