Must Add Breakout Stocks in your Watchlist for 1st July 2024:- Are you looking for top stocks to buy and add to your intraday stocks watchlist? Here are two breakout stocks that have shown significant movements and are worth considering for your portfolio: Amber Enterprises India Ltd (NSE) and Great Eastern Shipping Company Ltd (NSE). In this post, we'll delve into the breakout levels, targets, and stop-loss suggestions for these stocks, providing you with valuable insights for your trading strategies.
Also read Our Previous post about " BECTORFOOD Share Fresh Breakout Buy Levels and Targets".
Amber Enterprises India Ltd (NSE) Latest Chart Analysis
Amber Enterprises India Ltd is a key player in the air conditioner market, serving as a prominent solution provider for the AC OEM/ODM industry in India. The stock price surged by over 5.50% in today's market, reaching a current market price of ₹235. The volume data indicates strong bullishness in this stock, making it one of the top stocks to buy right now.
Breakout Levels and Targets
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| Amber Enterprises India Ltd (NSE) chart Analysis |
Upon analyzing the latest chart, we observe an ascending triangle pattern, suggesting a potential breakout above the ₹4615 price level. Traders should monitor this stock closely as it approaches the breakout point.
- Resistance Levels: ₹4515 to ₹4615
- Breakout Target Levels: ₹4665, ₹4700, ₹4750
- Intraday/Short-term Stop-loss: ₹4450
Analysis and Strategy
The ascending triangle pattern typically indicates a bullish trend continuation. Traders can consider entering a position once the stock price breaks above the ₹4615 level with strong volume support. Setting a stop-loss at ₹4450 can help manage risk in case of unexpected market movements.
Great Eastern Shipping Company Ltd (NSE) Latest Chart Analysis
Great Eastern Shipping Company Ltd is a leading Indian shipping company that transports liquid, gas, and solid bulk products. The stock showed a positive movement of over 3% today, with the current market price at ₹1224. The volume data suggests a potential bullish trend in this stock, making it a promising candidate for intraday trading.
Breakout Levels and Targets
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| Great Eastern Shipping Company Ltd (NSE) chart analysis |
The latest chart analysis reveals a channel pattern, indicating a breakout possibility above the ₹1255 price level.
- Resistance Levels: ₹1241 to ₹1254
- Breakout Target Levels: ₹1275, ₹1289, ₹1300
- Stop-loss: ₹1218
Analysis and Strategy
The channel pattern suggests a range-bound movement with a potential breakout. Traders should look for a decisive break above ₹1255 with strong volume before entering a position. Setting a stop-loss at ₹1218 can help minimize potential losses.
Conclusion
For traders and investors seeking top stocks to buy, Amber Enterprises India Ltd and Great Eastern Shipping Company Ltd present promising opportunities with their recent bullish movements and potential breakout patterns. By monitoring the breakout levels, setting appropriate targets, and managing stop-losses, you can optimize your trading strategy and enhance your chances of success.
Stay updated with the latest stock market trends and breakout stocks by adding these two promising stocks to your watchlist for 1st July 2024. Happy trading!
Disclaimer: The information provided in this blog post is for educational purposes only and should not be considered financial advice. Always conduct your own research and consult with a financial advisor before making any investment decisions
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