Tuesday, 02 January 2024 12:17 GMT

Breakout Signals: Analysts Turn Bullish On Sanghvi Movers, Aurobindo, Airtel, And More


(MENAFN- AsiaNet News)

SEBI-registered analysts are spotting fresh breakout opportunities across sectors, with bullish calls on Sanghvi Movers, Himadri Specialty Chemicals (HSCL), Aurobindo Pharma, Power Grid Corporation, and Bharti Airtel. 

Let's take a look at the stock recommendations shared on Stocktwits on Friday: 

Sanghvi Movers

Analyst Palak Jain is bullish on Sanghvi Movers. She recommended buying above ₹361, with a stop loss at ₹324, for target prices of ₹371, ₹382, and ₹403. 

Jain noted a strong weekly range breakout backed by a notable volume surge, confirming bullish momentum after a multi-month consolidation. On the fundamentals, June quarter earnings (Q1 FY26) showed strong operational growth and financial health.

Sanghvi Movers is a leading player in crane rental and the wind EPC segment, with aggressive capex and expansion plans, including entry into Saudi Arabia. Jain concluded that moderate valuations and a supportive technical chart support a buy call on the stock.

Himadri Specialty Chemicals (HSCL)

Vinay Taparia is bullish on HSCL. He believes the stock can move to ₹530-₹600 levels in the next six to nine months. But a close below ₹430 negates this view.

Aurobindo Pharma 

Aurobindo Pharma has seen a good breakout. The stock can move to ₹1,280-₹1,355 levels in the short term, but a close below ₹1,000 invalidates this outlook.

Power Grid Corporation 

Power Grid is on the verge of a breakout, according to Taparia. The stock can move towards ₹302-₹315 in the short term, but a close below ₹280 negates this view.

Bharti Airtel 

Bharti Airtel has seen a good candle formation at its support line. It can move to ₹2,040 in the short term, and a close below ₹1,865 invalidates this view.

For updates and corrections, email newsroom[at]stocktwits[dot]com.

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