Breakout Stocks: How MRPL, Samvardhana Motherson and RBL Bank are looking on charts for Thursday

economictimes.indiatimes.com:

The market capitalisation of all listed companies on the BSE crossed the Rs 300 lakh crore-mark for the first time ever in trade on Wednesday. Sector-wise, buying was seen in FMCG, auto, oil & gas, and energy stocks while selling was seen in banks and telecom stocks. Stocks that were in focus include names like MRPL that was up more than 12%; Samvardhan Motherson that gained 6%; and RBL Bank, which closed with gains of over 4% on Wednesday.

We have collated a list of three stocks that either hit a fresh 52-week high or saw a volume or a price breakout. We spoke to analyst Ankit Choudhary about how one should look at these stocks the next trading day entirely from an educational point of view:Here’s what the Co-Founder of Financial Independence Services has to say:RBL BankRBL Bank share price increased by over 4% due to decent growth in deposits & advances as per the Q1 update by the company. RBL Bank has formed a Cup and Handle pattern on monthly charts and can see targets of Rs 225 in a couple of weeks if it sustains above Rs 195.

Also, if it sustains above Rs 195, we can see targets of Rs 200 in this week!!(Disclosure: We have also shared this stock as an intraday call to our clients above 187.5.)MRPLMRPL gave a handsome Pole and Flag breakout above levels of Rs 81 and ended the day at Rs 88.8, up by 12%. If we see the chart, historically, such a move with volume continues for at least 2 days and the target for the pattern breakout is Rs 92-93. Like on April 27, it gave a good move with volume that continued the next day.