Breakout Buys: Tata Steel, BSE, Vedanta And Sun Pharma Poised For Upside
Synopsis
These four stocks have shown strong technical setups backed by heavy volumes.
Market analysts have identified multiple breakout opportunities across key sectors, including metals, pharma, and capital market stocks. SEBI-registered analyst Financial Sarthis flagged two strong breakout stocks to watch: Vedanta and Sun Pharma. While Palak Jain is bullish on BSE and Tata Steel.
Let’s take a look at their stock recommendations:
Tata Steel
Tata Steel has seen a resistance breakout with substantial volumes after a tight consolidation range. It is now showing new bullish momentum and a clear entry above 176.
Palak Jain believes that its strong brand backing, improving business outlook, stable earnings, and positive sector tailwinds hold well for the stock going forward. Additionally, the risk-reward is attractive from a breakout, with a stop firmly below the recent support zone.
She advised buying Tata Steel above ₹176, with a stop loss at ₹165 for target prices of ₹181, ₹187, and ₹197.
Bombay Stock Exchange (BSE)
Jain noted a flag and pole pattern breakout in BSE above ₹2,335 on the weekly chart with strong volumes. The stock is showing a fresh uptrend after a healthy correction phase. Flagpole breakout flips resistance to support, providing a clean swing setup opportunity with clear targets and well-defined stoploss for risk control, she added.
Jain advised buying BSE above ₹2,335, with a stop loss at ₹2,202 for target prices of ₹2,405, ₹2,475, and ₹2,615.
Vedanta
Financial Sarthis noted a flat horizontal breakout in Vedanta. The strong surge in volumes confirmed strong buying interest in the utilities space. They see a gap fill towards ₹494-₹496 and then towards ₹510-₹515 levels.
Sun Pharma
Financial Sathis also flagged a flat horizontal breakout in Sun Pharma, supported by huge volume buying. They believe the stock could now test ₹1,690 & ₹1,740 with support at ₹1,630.
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