Breakout stocks: SRF, Shoppers Stop can rally up to 10%, hint tech charts

Alok Industries and Chambal Fertilisers among others have recently bounced back above their 30-EMAs; charts suggest a possibility of an up move in the near-term.

Alok Industries, Chambal Fertilisers, Shoppers Stop and SRF are among the select Nifty 500 stocks that seemed to have turned favourable, and hold promise of a potential trend reversal, based on the recent price action.

These four stocks have managed to scale back above the 30-day EMA (Exponential moving 

Average) and further the Parabolic SAR (Stop and Reversal) indicator signaled a favourable trend going ahead.

The Parabolic SAR indicator helps in identifying suitable entry and exit points using a trailing stop and reverse method. 

Here's what the daily charts suggest for these four stocks.

Alok Industries

Current Price: Rs 27.35

Upside Potential: 10%

Support: Rs 26.20

Alok Industries has