 "Breakout stocks: Bajaj Auto, 360 One Wam, Coromandel International, Akzo Nobel India and Hexaware Technologies seen trading above the SuperTrend line indicator on daily charts.")
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Bajaj Auto, 360 One Wam, Hexaware Technologies, Coromandel International and Akzo Nobel India have witnessed a breakout above the key SuperTrend line indicator on the daily chart. Technically, the SuperTrend line indicator helps in identifying the near-term market trend for the particular stock or index. In general, as and when the underlying stock price crosses over the SuperTrend line is considered as a positive sign and vice versa. Based on this background, here's a detailed technical check on these 5 stocks.
Bajaj Auto
Current Price: ₹8,953 S1: ₹8,904; S2: ₹8,727 R1: ₹9,395; R2: ₹9,828 Bajaj Auto stock is seen trading above its SuperTrend line indicator, which stands at ₹8,727, with the 20-Day Moving Average (20-DMA) at ₹8,904 likely to act as a near support. On the upside, the stock resistance is visible around the higher-end of the weekly Bollinger Bands at ₹9,395; above which the next hurdle stands at ₹9,828 - the November 2024 high.Make smarter market moves with The Smart Investor. Daily insights on buzzing stocks and actionable information to guide your investment decisions delivered to your inbox.
360 One Wam
Current Price: ₹1,164 S1: ₹1,121; S2: ₹1,100; S3: ₹1,054 R1: ₹1,260; R2: ₹1,310; R3: ₹1,390 The short-term trend for 360 One Wam stock is likely to be positive above ₹1,054, suggests the SuperTrend line indicator. Near support can be anticipated around the recent low at ₹1,121 and the 20-DMA at ₹1,100. On the upside, the stock can test ₹1,390, with intermediate resistance likely around the higher-end of the monthly Bollinger Bands at ₹1,260 and ₹1,310 levels.Coromandel International
Current Price: ₹2,403 S1: ₹2,378; S2: ₹2,297; S3: ₹2,198 R1: ₹2,524; R2: ₹2,705 Coromandel International is trading above the higher-end of the Bollinger Bands on the daily chart; which implies a likely upbeat bias above ₹2,378. That apart, support the stock is visible at the 100-DMA at ₹2,297 and the trend line at ₹2,198. On the upside, the stock may test the upper-end of the weekly Bollinger Bands at ₹2,524; above which major resistance stands at ₹2,705.Also Read
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Hexaware Technologies
Current Price: ₹746 S1: ₹742; S2: ₹725; S3: ₹692 R1: ₹800; R2: ₹820; R3: ₹846 Hexaware Technologies is seen trading above its 100-DMA, which stands at ₹742 for the third straight day. Support for the stock is visible at ₹725 and ₹692. On the upside, the stock may attempt an up move towards the weekly SuperTrend line at ₹846; and may face intermediate resistance around ₹800 and ₹820.Akzo Nobel India
Current Price: ₹3,377 S1: ₹3,333; S2: ₹3,285; S3: ₹3,208 R1: ₹3,520; R2: ₹3,600; R3: ₹3,680 Akzo Nobel India stock may seek support at the 20-DMA at ₹3,333; below which key support is seen at the 200-DMA at ₹3,285 and ₹3,208. On the upside, resistance for the stock is visible at ₹3,520 and ₹3,600 levels; above which it may revisit July-month high at ₹3,680.
(Note: S1, S2, S3 and R1, R2, R3 are indicative support and resistance levels as per technical charts).
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