These five stocks could be on the verge of a breakout in this euphoric market

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Dabur has hit a new all-time high, aligning with the broader bullish trend in the FMCG sector. The stock broke through its technical resistance level of ₹600 and surged to ₹662 before undergoing a retest. It successfully formed an inverted head-and-shoulders pattern, which is a strong bullish reversal signal.

Also read: Here are 5 smallcap stocks breaking out on charts now Currently, Dabur is trading near ₹665, which is the neckline of the pattern. A breakout above ₹665 could trigger a fresh rally, marking this stock as one of the top candidates for a breakout. Gujarat Fluorochemicals, a key player in the chemical industry, produces specialty chemicals, refrigerants and polymers.

It has a solid track record of innovation and caters to various industries worldwide On the daily 3% X 3 point & figure (P&F) chart, the stock price has been trading in a range since hitting a high of ₹4,169 in October 2022. The price corrected to ₹2,500, where it found consistent support before resuming its upward movement. Also read: Know the 5 stocks India's Warren Buffetts are hoarding The stock price is currently hovering around ₹3,900, indicating that a breakout may be imminent.

Here are some key levels to keep an eye on: A series of higher lows preceded this consolidation, and a breakout beyond ₹3,940 and ₹4,200 could signal the resumption of a long-term bullish trend. What is a P&F chart? A point-and-figure chart uses Xs for bullish moves and Os for bearish moves. Unlike traditional time-based charts, these charts focus solely on price changes and are considered "noiseless".