The NSE Nifty 50 index has gained 0.2 per cent thus far in February, while the broader Nifty 500 moved over 1 per cent higher.
Among the Nifty 500 stocks, as many as 95 shares rallied over 10 per cent, while 60 declined more than 10 per cent as of February 26, shows ACE Equity data.
Against this background, technical analyst - Hitesh Tailor of Choice Broking helps identify potential stock winners going ahead.
Based on existing chart patterns, Hitesh Tailor expects Dr Reddy's, Bharat Electronics (BEL) and Triveni Engineering to gain up to 12.4 per cent from present levels.
Here's why Hitesh Tailor of Choice Broking is bullish on these 3 stocks: Dr Reddy's Laboratories
Current Market Price: ₹1,290
Dr Reddy's Laboratories is displaying encouraging signs of strength on the daily time frame. The stock delivered a decisive breakout above a horizontal trend line resistance, indicating a shift from consolidation to expansion, says Hitesh Tailor, technical research analyst at Choice Broking.
"Prior to the breakout, price action reflected steady accumulation below the resistance zone, followed by a strong bullish engulfing candle, suggesting aggressive buying interest and potential for further upside," explains the analyst.
Adding to the positive setup, the stock witnessed a Golden Crossover, signalling the emergence of a rising trend. At current levels, the stock is trading comfortably above its key EMAs, reflecting bullish alignment across multiple time frames and reinforcing the prevailing strength, adds Tailor.
On the upside, the analyst expects the stock to target ₹1,450, while maintaining a stop loss at ₹1,244.
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Current Market Price: ₹447
Tailor highlights that
BEL is exhibiting strength after delivering a decisive symmetrical triangle breakout with a close above the pattern.
"The stock remains above its key EMAs, which are sloping upward, indicating continuation of the prevailing uptrend. The stock is consistently taking support near its 20-day EMA, reflecting shallow retracements and steady upward momentum. A recent horizontal trend line breakout further reinforces bullish sentiment," explains Tailor.
Based on the technical setup, the analyst from Choice Broking recommends a 'Buy' rating on the stock with a stop loss of ₹424 and a target price of ₹495, maintaining disciplined risk management.
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Current Market Price: ₹398
Triveni Engineering is forming a constructive bullish setup after a prolonged consolidation and steady accumulation around the 200-day EMA, notes Tailor.
The analyst believes the stock is now on the verge of a breakout from a wider range trend line resistance as shown on the chart; a decisive move above this zone could further strengthen the trend and trigger fresh upside momentum.
"A notable development is the recent Golden Crossover, which signals a transition in trend dynamics following the accumulation phase. The price structure now indicates higher lows, suggesting strengthening demand on dips," adds Tailor.
The stock continues to trade above its 50-, 100-, and 200-day EMAs, confirming positive trend alignment across time frames.
The analyst expects the stock to rally up to ₹444 on the upside, and suggests a stop loss at ₹369.
Disclaimer: The views expressed by the brokerage/ analyst in this article are their own and not those of the website or its management. Business Standard advises users to check with certified experts before taking any investment decisions. 
 "Breakout stocks: BEL, Dr Reddy's, Triveni can gain up to 12%, says chartist")
