After covering the stocks with negative breakout in my previous article I am here with a list of Nifty index stocks which are giving positive breakout. Let’s begin with some defensive names:
1. Hindunilvr: This is FMCG company, stock has give a positive up move after breaking above 360 level, we are positive on this stock, and traders can keep looking for buying opportunity till stock enjoys above 360 level.
2. ITC: Again a FMCG player, stock has been in uptrend on breaking above 140 level. So on every dip traders should buy ITC.
3. Sunpharma: This is continuously advancing by support of trend line. So any pull back will bring in fresh buying in sun pharma stock. Target for stock will be 506 as its 261.8% Fibonacci extension level.
4. Kotak Bank: Only stock from banking space which made a new 52 week high, we are seeing decent upside in this stock in span of next 2 to 3 months.
5. TCS: Stock comes from IT sector; well this stock is technically bullish and is in verge of a breakout above 1250 level for long term target of 1480.
6. ACC: A major cement manufacturer, stock has broken above its 52 week high due to increasing demands in domestic market, also new infrastructure orders are flowing in infrastructure sector. Overall positive for entire sector, we are bullish on ACC, Ambhuja cement, Ultratech Cement, Grasim Ind.