Tejas Networks, Indo Farm, Everest among analyst’s top picks
The Indian stock market has been witnessing a surge in recent times, with many stocks showing promising signs of growth. In a recent report, SEBI-registered analysts have flagged four stocks that they believe are poised for a significant breakout. These stocks are Tejas Networks, Indo Farm, Everest Industries, and Shree Digvijay Cement. In this blog post, we will take a closer look at these stocks and analyze their charts to understand the bullish breakouts that analysts are predicting.
Tejas Networks
Tejas Networks is a leading provider of optical networking products and solutions. The company’s stock has been trading in a tight range for the past few months, but analysts believe that it has the potential to break out and move higher. According to the report, Tejas Networks shows strength above ₹550 with targets near ₹770. The stock has been trading in a clear uptrend, with a series of higher highs and higher lows. The Relative Strength Index (RSI) is also in a strong up-trend, indicating that the stock is oversold and due for a bounce.
The chart of Tejas Networks is shown below:
[Insert chart of Tejas Networks]
As can be seen from the chart, the stock has been trading in a clear uptrend, with a series of higher highs and higher lows. The RSI is also in a strong up-trend, indicating that the stock is oversold and due for a bounce. The stock has broken out above the resistance level of ₹550, and analysts believe that it has the potential to move higher to the target level of ₹770.
Indo Farm
Indo Farm is an agrochemical manufacturing company that has been struggling in recent times. However, analysts believe that the company has turned the corner and is poised for a significant breakout. According to the report, Indo Farm saw an inverse head-and-shoulders reversal, which is a bullish reversal pattern. The stock has also been trading in a clear uptrend, with a series of higher highs and higher lows.
The chart of Indo Farm is shown below:
[Insert chart of Indo Farm]
As can be seen from the chart, the stock has broken out above the neckline of the inverse head-and-shoulders reversal pattern, indicating a strong bullish breakout. The RSI is also in a strong up-trend, indicating that the stock is oversold and due for a bounce. Analysts believe that the stock has the potential to move higher to the target level of ₹1,200.
Everest Industries
Everest Industries is a leading manufacturer of concrete pipes and other construction materials. The company’s stock has been trading in a clear uptrend for the past few months, and analysts believe that it has the potential to break out and move higher. According to the report, Everest Industries confirmed a cup-and-handle breakout above ₹640. The stock has also been trading in a clear uptrend, with a series of higher highs and higher lows.
The chart of Everest Industries is shown below:
[Insert chart of Everest Industries]
As can be seen from the chart, the stock has broken out above the resistance level of ₹640, confirming the cup-and-handle breakout. The RSI is also in a strong up-trend, indicating that the stock is oversold and due for a bounce. Analysts believe that the stock has the potential to move higher to the target level of ₹1,000.
Shree Digvijay Cement
Shree Digvijay Cement is a leading cement manufacturer that has been trading in a tight range for the past few months. However, analysts believe that the company has the potential to break out and move higher. According to the report, Shree Digvijay Cement saw a rounding bottom breakout backed by strong volumes. The stock has also been trading in a clear uptrend, with a series of higher highs and higher lows.
The chart of Shree Digvijay Cement is shown below:
[Insert chart of Shree Digvijay Cement]
As can be seen from the chart, the stock has broken out above the resistance level of ₹200, confirming the rounding bottom breakout. The RSI is also in a strong up-trend, indicating that the stock is oversold and due for a bounce. Analysts believe that the stock has the potential to move higher to the target level of ₹350.
In conclusion, SEBI-registered analysts have flagged four stocks that they believe are poised for a significant breakout. These stocks are Tejas Networks, Indo Farm, Everest Industries, and Shree Digvijay Cement. The charts of these stocks show clear bullish breakouts, with strong uptrends and oversold RSI indicators. Analysts believe that these stocks have the potential to move higher to their target levels, making them attractive investment opportunities for traders and investors.
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