Breakout Stocks: How Ujjivan SFB, Godrej Industries and AstraZeneca Pharma are looking on charts for Monday’s trade
Sectorally, buying was seen in realty, consumer durables, infra, and IT stocks while selling was seen in telecom stocks.
Stocks that were in focus include names like Ujjivan Small Finance Bank which rose nearly 6%, Godrej Industries rallied nearly 20% and AstraZeneca Pharma closed with gains of more than 4% on Friday. All three stocks hit their respective 52-week high in intraday trade.
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
Ujjivan Small Finance Bank
The stock went up to 11% in a single day on Friday.
It is now trading at the listing price. The stock is forming more like a Cup and Handle Pattern from 2020.
Now, it has given a breakout from the important resistance zone and is now heading toward its target which is the Rs 65.35 level as Target 1 and Rs 70.25 level as Target 2.
The stock is experiencing good buying pressure and has crossed 50MA in the volumes chart.
Looking at fundamentals, the top line (Sales) has been growing at a rate of 24% on a YoY basis for the past 3-year average.
The Company has been increasing its Capex from 58 crores to 125 crores which is almost 2.5x.
Godrej Industries
The stock recently broke a 5-year-old strong trendline resistance on Friday on the upside and made a strong bullish green candle on the charts. It is forming a sort of “Cup and Handle” Pattern.
The stock is heading toward its next target which is of Rs 701 level as Target 1 and the risk-to-reward Ratio is
