GRSE & Intellect Design Are Poised For Fresh Breakouts: SEBI RIA Financial Independence

An investment advisor sees trading opportunities in two momentum stocks backed by bullish chart patterns and strong support levels.

SEBI-registered investment advisor Financial Independence has highlighted two stocks: Intellect Design, GRSE that have shown robust breakouts supported by healthy volumes, bullish indicators, and positive market structure. 

They believe that these setups could offer good short-to-medium-term trading opportunities.

Let’s break their analysis further: 

1. Intellect Design: Symmetrical Triangle Breakout

Intellect Design Arena stock has broken out of a symmetrical triangle pattern on the daily charts, signaling a bullish continuation. 

They add that this breakout has been backed by above-average volumes, suggesting buying strength. 

They believe that the structure itself remains positive as long as the stock sustains above the ₹1,110–₹1,120 zone. 

Financial Independence pegged upside targets at ₹1,175, followed by ₹1,225 in the short term.

Intellect Design Arena shares have gained 18% year-to-date (YTD).

2. Garden Reach Shipbuilders (GRSE): Rounding Bottom Breakout

The stock has formed a rounding bottom pattern on the weekly chart and witnessed a clean breakout above ₹2,950. 

This breakout is supported by robust volume action, indicating institutional participation. 

They see the next resistance level around ₹3,200, while the ₹2,870–₹2,900 zone is expected to provide strong support.

According to them, given the stock’s positive momentum and sustained higher highs, dips are likely to be bought into.

Financial Independence also notes strong support near the ₹1,065 level, which coincides with previous consolidation and 21-day Exponential Moving Average (EMA).

GRSE shares have rallied 87% year-to-date (YTD).

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Editor’s note: A previous version of this story included the RIA’s views on Power India, but the referenced levels had already been reached prior to publication. The error has been corrected.<