IDBI, Nava, Exide among 5 breakout stocks with up to 25% upside potential

Breakout stocks: IDBI, Bandhan Bank, Exide Industries, Finolex Industries and Nava have recently witnessed a breakout on their respective technical charts; here's a strategy to trade.

Shares of IDBI have gained investors' attention in recent trading days amid reports that the bank's privatisation may be completed by the end of this fiscal year.  The Department of Investment and Public Asset Management (Dipam) Secretary, Arunish Chawla, on Thursday said that the government expects to complete the "core part" of IDBI Bank's privatisation by March 31, 2026.  The government and Life Insurance Corporation of India (LIC) collectively hold 95 per cent stake in IDBI. READ MORE  Meanwhile, on the stock exchanges, following an over 8 per cent surge yesterday IDBI has given a fresh breakout on the technical charts. Similarly, Exide Industries, Bandhan Bank, Nava and Finolex Industries too have witnessed a breakout on the daily charts.  Technical charts suggest that these breakout stocks can potentially rally up to 25 per cent from here. 

5 breakout stocks to trade

IDBI

Current Price: ₹95.15  Likely Target: ₹118  Upside Potential: 24%  Support: ₹91.20; ₹89.50; ₹87.52  Resistance: ₹101.50; ₹108.50  IDBI is likely to trade with a positive bias as long as the stock holds above ₹87.52 levels, with near support visible around ₹91.20 and ₹89.50 levels. On the upside, the stock faces near resistance around ₹101.50 levels. 

 

  Break and sustained trade above the same can trigger a rally towards ₹118 levels, with interim resistance likely around ₹108.50. 

Bandhan Bank

Current Price: ₹174  Likely Target: ₹218  Upside Potential: 25.3%  Support: ₹172; ₹167  Resistance: ₹184; ₹190; ₹205  Bandhan Bank is likely to trade with a favourable bias as long as the stock quotes above ₹163 levels. Interim support for the stock is seen at ₹172 and ₹167 levels. On the upside, the stock can potentially rally to ₹218 levels, with interim resistance likely around ₹184 and ₹190, and ₹205 levels. 

 

 

Exide Industries

Current Price: ₹396  Likely Target: ₹426  Upside Potential: 7.6%  Support: ₹389; ₹384; ₹375  Resistance: ₹401; ₹418  Exide Industries stock is seen trading above its 200-Day Moving Average (200-DMA) for the third straight day, after more than eight months. Going forwards, the 200-DMA at ₹389 is likely to act as a key support for the stock, below which support can be expected around ₹384 and ₹375 levels. 

 

    On the upside, Exide is likely to attempt an up move towards the weekly trend line hurdle at ₹425 levels. Interim resistance for the stock exists at ₹401 and ₹418 levels. 

Nava

Current Price: ₹670  Likely Target: ₹805  Upside Potential: 20.2%  Support: ₹660; ₹630; ₹615  Resistance: ₹697; ₹715; ₹750  Nava is likely to trade on an upbeat note as long as the stock trades above ₹660; below which support for the stock can be anticipated around ₹630 and ₹615 levels. On the upside, the stock can potentially surge to ₹805 levels. On its way up, the stock is likely to face resistance around ₹697, ₹715 and ₹750 levels. 

 

 

Finolex Industries

Current Price: ₹205  Likely Target: ₹240  Upside Potential: 17.1%  Support: ₹200; ₹188  Resistance: ₹212; ₹223  Finolex Industries is likely to trade with a favourable bias as long as the stock quotes above the 100-DMA, which stands at ₹200; below which key support for the stock exists at ₹188. On the upside, the stock may target the 100-Week Moving Average (100-WMA), which stands at 240 levels. Intermediate resistance for the stock can be seen at ₹212, ₹223 and ₹233 levels.