Top stocks exhibiting a positive breakout from the first resistance level

Top stocks exhibiting a positive breakout from the first resistance level

by 5paisa Research Team Last Updated: Dec 13, 2022 - 08:34 am 21.3k Views
Listen icon

Nifty 50 has been trading sharply higher near its day’s high. A lot of stocks have witnessed a positive breakout from the first resistance level. Read on to find out more.

The Federal Reserve increased its benchmark interest rate by another 75 basis points to combat inflation. This was the second 75 basis point rate hike in a row and the fourth interest rate increase this year. As a result, the US indices rallied on Wednesday. Nasdaq Composite registered its biggest daily gain since April 2020.

Ahead of the US Fed meet outcome in the evening, the Nifty 50 gave up its two-day losing run on July 27. Nifty ended yesterday’s session at 16,641.8, up 0.96% or 157.9 points. In the Asian pack, Nifty 50 came out as the best performer. The levels of 17,200 to 17,300 is the next resistance while 16,300 to 16,500 is likely to act as strong support for the Nifty 50 in the near term.

on Thursday, Asian indices made gains on a cautious note as investors noticed a possible slowdown in the pace of US rate hikes, declining bond yields and limiting the dollar.

Following is the list of stocks witnessing a positive breakout from the first resistance.

Stocks 

CMP (Rs) 

R1 

R2 

R3 

S1 

S2 

S3 

Balaji Amines Ltd. 

3,410.0 

3,392.0 

3,458.5 

3,552.0 

3,232.1 

3,138.6 

3,072.1 

Linde India Ltd. 

3,670.0 

3,637.7 

3,691.2 

3,745.1 

3,530.4 

3,476.5 

3,423.0 

SKF India Ltd. 

4,100.7 

4,045.4 

4,121.8 

4,169.5 

3,921.2 

3,873.5 

3,797.1 

Venky's (India) Ltd. 

2,032.0 

2,022.3 

2,045.7 

2,064.3 

1,980.3 

1,961.7 

1,938.3 

Hindustan Aeronautics Ltd. 

1,967.0 

1,959.0 

1,978.8 

2,015.8 

1,902.2 

1,865.2 

1,845.4 

Home First Finance Company India Ltd. 

848.7 

840.0 

857.4 

884.8 

795.3 

767.9 

750.5 

Zydus Wellness Ltd. 

1,628.3 

1,619.3 

1,634.0 

1,648.0 

1,590.6 

1,576.6 

1,561.9 

Affle (India) Ltd. 

1,052.9 

1,049.2 

1,058.6 

1,070.2 

1,028.2 

1,016.6 

1,007.2 

Gujarat Alkalies & Chemicals Ltd. 

740.5 

735.7 

745.3 

758.6 

712.8 

699.5 

689.9 

Century Textiles & Industries Ltd. 

817.2 

811.8 

821.1 

829.7 

793.9 

785.3 

776.0 

R stands for resistance and S stands for support. 

How do you rate this blog?

Start Investing in 5 mins*

Rs. 20 Flat Per Order | 0% Brokerage

oda_gif_reasons_colorful

About the Author

Our research team is composed of some highly qualified research professionals, their expertise range across sectors.

Disclaimer

Investment/Trading in securities Market is subject to market risk, past performance is not a guarantee of future performance. The risk of loss in trading and investment in Securities markets including Equites and Derivatives can be substantial.
Open Free Demat Account
Resend OTP
Please Enter OTP
Mobile No. belongs to

By proceeding, you agree to the T&C.

Latest Blogs
Best EV Stocks in India 2024

As India shifts to a greener future, the electrically powered cars and trucks market will rise significantly in 2024. This article investigates the best EV stocks in India, highlighting firms leading the way in innovation, sustainability, and market capitalization.

Best Banks in India 2024

Navigating the many options for banking services becomes a crucial task for both individuals and enterprises as we enter the Indian financial scene in 2024. The top banks in India provide a wide range of services that extend beyond traditional banking, serving as cornerstones of the country's financial stability. These best banks in India offer individualized client care and state-of-the-art digital solutions that reflect the changing needs of the financial industry. 

SEBI's Small-Cap Advisory: Are The Markets Frothy

Retail investors and mutual funds have driven a remarkable surge in the value of Indian mid and small-cap stocks over the past six months.