Breakout stocks: SBI, Tata Chem, 3 others can rally up to 24%, hint charts

SBI, SBI Card, Canara Bank, Tata Chemicals and Wipro have witnessed a short-term breakout as per the price-to-moving averages action, shows the daily chart.

Equity markets have witnessed a good run thus far in the month of September, with the NSE benchmark Nifty to index up over 2.5 per cent and the broader Nifty 500 index over 3 per cent.  In the present scenario, here are 5 stocks that have witnessed a breakout on the technical charts and can potentially deliver over 24 per cent gain from here. 

Breakout stocks on the BSE, NSE

  SBI, SBI Card, Canara Bank, Tata Chemicals and Wipro are the 5 stocks that have witnessed a breakout in recent trading sessions as per the moving averages price action. These 5 stocks have witnessed a crossover of the 7-day Exponential Moving Average (7-EMA) over the 20-EMA, thus qualifying as a positive breakout for the near-term trend.  The 7-day and the 26-day EMAs are used in identifying short-term trends in stocks. Crossover of the shorter-term EMA over the longer-term EMA in general signals a bullish signal for the respective stock and vice versa.  All the 5 stocks mentioned above are currently trading above the 7- and 26-day EMAs, with positive crossovers. Here are the key levels to watch out for on these stocks. 

SBI

Current Price: ₹822  Likely Target: ₹1,000  Upside Potential: 21.7%  Support: ₹816; ₹813; ₹798  Resistance: ₹860; ₹912; ₹953  The 7- and 26-day EMA of SBI stands at ₹816 and ₹813 levels, indicating likely support for the stock around these levels. The overall bias is likely to remain positive as long as the stock trades above ₹798. On the upside, the stock can spurt to ₹860 in the near-term. 

SBI stock outlook

 

  The long-term chart suggests that SBI stock can potentially rally towards the ₹1,000-mark, in case the stock breaks and sustains above the ₹860 hurdle. Intermediate resistance for the stock can be expected around ₹912 and ₹953 levels. 

SBI Card

Current Price: ₹855  Likely Target: ₹960  Upside Potential: 12.3%  Support: ₹837; ₹815; ₹800  Resistance: ₹887  SBI Card seems on course to test the 100-Day Moving Average, which now stands at ₹887, and has been acting as a key hurdle since July 2025. Above which, the stock can potentially rally to ₹960 levels. 

SBI Card stock chart

  The bias at the counter is likely to remain favourable as long as the stock sustains above ₹800 levels, with interim support visible around ₹837 and ₹815 levels. 

Canara Bank

Current Price: ₹111.70  Likely Target: ₹128.50  Upside Potential: 15%  Support: ₹110; ₹108.50; ₹105.50  Resistance: ₹117.50; ₹120.50; ₹124.00  Canara Bank stock is likely to trade with a positive bias as long as the stock quotes above ₹105.50 levels; with interim support likely around ₹110 and ₹108.50 levels, shows the daily chart.   

Canara Bank stock chart

  On the upside, the stock can advance towards ₹128.50 levels, with interim resistance anticipated around ₹117.50, ₹120.50 and ₹124 levels. 

Tata Chemicals

Current Price: ₹965  Likely Target: ₹1,200  Upside Potential: 24.4%  Support: ₹955; ₹945; ₹920  Resistance: ₹972; ₹1,000; ₹1,030; ₹1,100  Tata Chemicals stock is likely to trade on an upbeat note as long as the stock holds above ₹955; below which support for the stock can be anticipated around ₹945 and ₹920 levels.   

Tata Chemicals stock outlook

  On the upside, the stock faces multiple hurdles around ₹972 - ₹1,000-mark. A breakout above the same can potentially open the doors for a likely rally towards ₹1,200 levels. Interim resistance for the stock can be seen around ₹1,030 and ₹1,100 levels. 

Wipro

Current Price: ₹252  Likely Target: ₹295  Upside Potential: 17%  Support: ₹249; ₹246; ₹239  Resistance: ₹260; ₹275  Wipro is likely to trade with a favourable bias as long as the stock quotes above ₹239. Intermediate support for the stock is seen at ₹249 and ₹246 levels, wherein exists the 20- and 100-DMAs.   

Wipro stock chart

  On the upside, the stock is likely to spurt to ₹260 levels in the near-term; above which a dash towards ₹275 seems likely. Breakout above ₹275 can lead the stock towards ₹295 levels, suggests the long-term chart.