Top 4 Breakout stocks for tomorrow | Multiyear Breakout Stocks | Breakout Stocks | 17.09.2024

Introduction

Hello everyone, welcome back to my channel! In this article, we are going to talk about four stocks that have shown impressive breakout formations on the daily time frame today. In the coming days, these stocks could exhibit significant momentum. I will provide a detailed analysis of each stock, including entry points, stop losses, and targets. Additionally, we will revisit some previously discussed stocks that have reached their target levels after breakouts.

Analysis of Past Stocks

Recently, I shared an analysis of Maharashtra Scooters Limited on the daily time frame when the stock exhibited a cup-and-handle pattern. I recommended an entry at ₹8608, anticipating a breakout which was reached, achieving our target of ₹10471. This represented a return of around ₹31, which translates to substantial gains.

Next, I analyzed EPAK Durable Ltd., where I recommended an entry around ₹24 following a breakout. The stock reached our first target of ₹296 and later achieved our second target of ₹3375. We saw a remarkable return of about 75% from our entry point.

Furthermore, I shared insights about Oval Greentech Limited in August, which performed well after retesting our levels with a stop loss set at ₹3. The stock has since seen substantial upward momentum, hitting our ultimate target of ₹73, providing excellent returns.

Today's Top 4 Breakout Stocks

Let's delve into today's breakout stocks:

1. Guy Bank Overseas Limited

   • Analysis: Following a significant decline, the stock is forming a cup-and-handle pattern and currently shows strong breakout candles supported by good volume.
   • Entry Point: Wait for a retest at around ₹662.
   • Stop Loss: ₹5 on a daily closing basis.
   • Target: ₹775.

2. Kohir Foods Limited

   • Analysis: This stock broke a significant falling trend line after facing resistance multiple times. The breakout looks strong with ample trading volume.
   • Entry Point: Look for a retest around ₹100.
   • Stop Loss: ₹5 on a daily closing basis.
   • Target: ₹116.

3. Sundaram Clayton Limited

   • Analysis: After facing resistance at a rising trend line several times, this stock has successfully broken out, with the breakout candle showing strength.
   • Entry Point: Wait for a retest at around ₹2142.
   • Stop Loss: ₹10 on a daily closing basis.
   • Target: ₹2273.

4. Guy Emami Realty Ltd.

   • Analysis: Previous analysis highlighted a breakout with good momentum. The stock is currently around the retest level.
   • Entry Point: Current market price around ₹908.
   • Stop Loss: ₹888 on a daily closing basis.
   • Target: ₹1,000.

Keyword

breakout stocks, stock analysis, entry points, targets, stop loss, Maharashtra Scooters Limited, EPAK Durable Ltd., Oval Greentech Limited, Guy Bank Overseas Limited, Kohir Foods Limited, Sundaram Clayton Limited, Guy Emami Realty Ltd., retest levels.

FAQ

Q: What are breakout stocks?
A: Breakout stocks refer to stocks that have surpassed their established resistance levels, indicating potential upward momentum.

Q: How do I set a stop loss for my stocks?
A: A stop loss can be placed a few rupees below the entry price or significant support levels, depending on the stock's volatility.

Q: Why is it important to analyze stocks before investing?
A: Analyzing stocks helps you understand price movements, potential targets, and risk factors, enabling informed investment decisions.

Q: How can I determine entry and exit points for stocks?
A: Entry and exit points can be determined through technical analysis, patterns, and historically significant price levels.

Q: Are all the recommended stocks guaranteed to perform?
A: No investment comes with guarantees; these recommendations are based on technical analysis and historical patterns, but market conditions can change rapidly.

Thank you for joining me, and I look forward to bringing you more insights in the next video!