BEML, Raymond, IFCI: 3 breakout stocks on Bonanza's radar

Kunal Kamble of Bonanza has recommended three breakout stocks to buy today -- BEML Ltd, Raymond Ltd, and IFCI Ltd.

Disclaimer: This article is written by Kunal Kamble, senior technical research analyst at Bonanza. Views expressed are his own. Readers' discretion is advised.

 Stocks to buy today 

BEML Ltd

 

BEML has decisively broken out above the crucial ₹2,000 horizontal resistance that capped prices since May, closing 3.16 per cent higher at ₹2,032. The move is backed by a clear volume expansion, confirming genuine buying interest. Price is trading comfortably above its rising short-term average, keeping the structure firmly bullish and favouring continuation towards higher levels.

 

Buy range: ₹2025-2032 | Stop loss: 1,955 | Target: ₹2,150

 

Raymond Ltd

 

Raymond has broken out of a tightening consolidation marked by converging trendlines, closing 5.03 per cent higher at ₹667 with a visible pickup in volume. The upside breakout from this continuation pattern, with price holding above its rising moving average, points to renewed strength and scope for the uptrend to extend towards fresh highs.

 

 

Buy range: ₹665-670 | Stop loss: ₹630 | Target: ₹720

 

IFCI Ltd

 

On the weekly chart, IFCI has broken past a multi-year resistance zone near ₹82 to ₹85, surging 9.29 per cent to ₹98. The breakout candle is accompanied by a strong volume spike, a healthy sign of conviction. The stock has also cleared its falling trendline, signalling a fresh up-leg with momentum on the bulls' side.

 

Buy range: ₹98-99 | Stop loss: ₹95 | Target: ₹105-107