Breakout stocks to buy today, Sep 25: NTPC, Amber, Tata Consumer

NTPC, Amber Enterprises, and Tata Consumer are the top picks of Ruchit Jain, head of equity technical research, wealth management, Motilal Oswal Financial Services

Buy NTPC |CMP ₹347 |SL ₹333 |TGT ₹364

Over the past four months, NTPC stock has been in a consolidation phase, holding firmly above its weekly 89-DEMA. The stock has now registered a breakout from this consolidation pattern, accompanied by improving volumes. Additionally, the RSI oscillator on both the daily and weekly timeframes is indicating a strengthening momentum. Given the current volatility in broader markets, NTPC — being a low-beta stock — provides a favorable risk-reward setup for traders.

Buy AMBER |CMP ₹8,410 |SL ₹8,100 |TGT ₹9,080

Amber Enterprises shares continues to exhibit a strong uptrend, forming a series of higher tops and higher bottoms. The stock has recently broken out above its previous swing high, reinforcing the bullish structure. It is currently finding support near the 20-DEMA around ₹8,000, and as long as this support remains intact, traders should maintain a positive bias. On the daily chart, the stock has formed a bullish Pole & Flag pattern, indicating the potential for further trend continuation. Moreover, the rising ADX line highlights the strength of the ongoing uptrend.

Buy TATACONSUM |CMP ₹1,140 |SL ₹1,112 |TGT ₹1,200

Tata Consumer has retested its breakout from a falling supply trendline with strong follow-through volumes, confirming the breakout’s validity. The stock is showing signs of renewed strength as the RSI is trending higher, indicating improving momentum. The overall price structure suggests room for further upside in the near term.

 

(Disclaimer: Ruchit Jain is the head of equity technical research, wealth management at Motilal Oswal Financial Services. Views expressed are his own.)