Breakout stocks: HDFC Life, ACC, LTTS can rally up to 18%; show charts

The near-term bias for HDFC Life and LTTS is expected to remain upbeat as long as the stocks trade above Rs 643 and Rs 5,090 levels; suggests the technical charts.

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Equity benchmark indices had bounced back in trades on Thursday amid positive cues from global peers. The BSE Sensex hit a high of 77,320, and was up 0.4 per cent around the 77,000-mark in morning trades. Similarly, the NSE Nifty 50 index gained 100 points at 23,314. The pullback in the benchmark indices was witnessed after a near 2.5 per cent fall so far this calendar year.  Amid the pullback several stocks across sectors logged sharp gains. In trades thus far, HDFC Life, RVNL, LTTs and IRCON International zoomed in the range of 8 - 10 per cent. Max Financial Services, Signature Global, Paytm, KFin Technologies, Jupiter Wagons, RailTel, Brigade Enterprises, IDFC and GIC RE were some of the other major gainers - up over 5 per cent each.  Meanwhile, 3 stocks - HDFC Life, LTTS, and ACC - among the top movers today witnessed a breakout on the technical charts. Here's how these stocks are placed on the charts now.    HDFC Life  Current Price: Rs 650  Upside Potential: 15.4%  Support: Rs 643; Rs 619; Rs 610  Resistance: Rs 685; Rs 704  HDFC Life stock opened with a positive gap of 6 per cent at Rs 630, and soon soared to a high of Rs 664 today. In the process, the stock broke above its 20-DMA (Daily Moving Average), 50-DMA, 200-DMA, super trend line hurdle and the higher-end of the Bollinger Bands on the daily scale. CLICK HERE TO VIEW THE CHART  The breakout above multiple hurdles augurs well for the stock. Further, HDFC Life was seen testing support at its 200-WMA (Weekly Moving Average), which stands at Rs 610, in the recent weeks. As such the same is expected to remain a major support for the stock going ahead.  The near-term bias is likely to remain upbeat as long as the stock holds above Rs 643; below which support for the stock exists at Rs 619. On the upside, the stock can potentially surge to Rs 750 levels; with interim resistance expected around Rs 685 and Rs 704 levels.    LTTS  Current Price: Rs 5,194  Upside Potential: 11.7%  Support: Rs 5,090; Rs 5,000; Rs 4,825  Resistance: Rs 5,440; Rs 5,625  LTTS stock opened with a gap-up of 3.5 per cent at Rs 5,022, and soon rallied to a high of Rs 5,337; thus breaking above all the key moving averages on the daily time-frame. The near-term bias for the stock is expected to remain bullish as long as the stock holds above Rs 5,090 levels. CLICK HERE TO VIEW THE CHART  On the upside, the stock can potentially soar to Rs 5,800 levels; with interim resistance seen at Rs 5,440 and Rs 5,625 levels. In case of a dip, the 200-DMA at Rs 5,000-mark followed by the 20-DMA at Rs 4,825 are likely to act as key supports.  ACC  Current Price: Rs 2,030  Upside Potential: 18.2%  Support: Rs 1,950; Rs 1,900  Resistance: Rs 2,145; Rs 2,180; Rs 2,260  After opening with a 4 per cent gap-up, ACC stock touched a high of Rs 2,055 in intra-day deals thus far. The stock so far has broken above its 20-DMA and the super trend line resistance on the daily scale. Chart shows that the bias for the stock is likely to remain positive as long as the stock trades above Rs 1,900 levels. CLICK HERE TO VIEW THE CHART  On the upside, the stock can potentially jump to Rs 2,400 wherein the 200-DMA and the weekly super trend line resistance stands. Interim hurdles for the stock are placed at Rs 2,145; Rs 2,180; Rs 2,260 levels. Near support for the stock can be expected around Rs 1,950.