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Trending stocks: Don’t miss these 5 breakout stocks on Friday

Yogesh Supekar
·2-min read

The jump in BSE Sensex by 958 points on Thursday may have taken several investors by a surprise as most investors were anticipating a market correction. However, the private banks were seen outperforming along with the Bajaj Twins. Large caps dominated the market moods and outperformed the trending small cap stocks.

These are the top trending 5 breakout stocks you don’t want to miss on Friday:

1.       RIL: The share price of RIL touched its fresh all-time highs on Thursday, on closing basis. A bullish engulfing pattern was seen in RIL on weekly chart. RIL single handedly was seen contributing to 171.80 points to the BSE Sensex gains of 958 points. RIL traded with a fresh all time high breakout on Thursday and hence the one can expect some action in RIL on the long side.

2.     Dixon Technology:  A bullish hammer candlestick chart pattern was formed in Dixon Technologies on Sept 21. The share price of Dixon Technology gained by more than 5 per cent on Thursday. The shares of Dixon Technology close crossed above the 20D SMA and 50D SMA on Thursday, thus indicating near term bullishness. The share price gained on Thursday with a spurt in volume of 3.39 times on BSE, indicating strength in the price momentum.

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3.       Welspun India: The share price of Welspun India jumped higher by more than 14 per cent on Thursday with a spurt in volume of 4.29 times on BSE. A Cup & Handle Breakout was witnessed in Welspun India on Thursday, pushing the stocks to all time high levels.

4.      LT: The share price of LT closed higher by 3.46 per cent on Thursday with a spurt in volume of 4.96 times. The share price of LT made fresh all-time highs and are trading above key moving averages.

5.      Apollo Hospitals: The share price of Apollo Hospitals closed at all time highs with a spurt in volume seen. The shares of Apollo Hospitals jumped higher by more than 4 per cent allowing itself to break free from the key resistance levels. The stocks closed near its day’s high indicating bullishness in the counter.