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Breakout Stocks: Bajaj-Auto, 360 One among Top 5 stocks trading above this key tech indicator | Markets News


Bajaj Auto, 360 One Wam, Hexaware Technologies, Coromandel International and Akzo Nobel India have witnessed a breakout above the key SuperTrend line indicator on the daily chart.  Technically, the SuperTrend line indicator helps in identifying the near-term market trend for the particular stock or index. In general, as and when the underlying stock price crosses over the SuperTrend line is considered as a positive sign and vice versa.  Based on this background, here’s a detailed technical check on these 5 stocks. 


Bajaj Auto

Current Price: ₹8,953  S1: ₹8,904;  S2: ₹8,727  R1: ₹9,395;  R2: ₹9,828  Bajaj Auto stock is seen trading above its SuperTrend line indicator, which stands at ₹8,727, with the 20-Day Moving Average (20-DMA) at ₹8,904 likely to act as a near support. On the upside, the stock resistance is visible around the higher-end of the weekly Bollinger Bands at ₹9,395; above which the next hurdle stands at ₹9,828 – the November 2024 high. 
 

 


360 One Wam

Current Price: ₹1,164  S1: ₹1,121;  S2: ₹1,100;  S3: ₹1,054  R1: ₹1,260;  R2: ₹1,310;  R3: ₹1,390  The short-term trend for 360 One Wam stock is likely to be positive above ₹1,054, suggests the SuperTrend line indicator. Near support can be anticipated around the recent low at ₹1,121 and the 20-DMA at ₹1,100. On the upside, the stock can test ₹1,390, with intermediate resistance likely around the higher-end of the monthly Bollinger Bands at ₹1,260 and ₹1,310 levels.   

 


Coromandel International

Current Price: ₹2,403  S1: ₹2,378; S2: ₹2,297; S3: ₹2,198  R1: ₹2,524; R2: ₹2,705  Coromandel International is trading above the higher-end of the Bollinger Bands on the daily chart; which implies a likely upbeat bias above ₹2,378. That apart, support the stock is visible at the 100-DMA at ₹2,297 and the trend line at ₹2,198. On the upside, the stock may test the upper-end of the weekly Bollinger Bands at ₹2,524; above which major resistance stands at ₹2,705.   

 


Hexaware Technologies

Current Price: ₹746  S1: ₹742;  S2: ₹725;  S3: ₹692  R1: ₹800;  R2: ₹820;  R3: ₹846  Hexaware Technologies is seen trading above its 100-DMA, which stands at ₹742 for the third straight day. Support for the stock is visible at ₹725 and ₹692. On the upside, the stock may attempt an up move towards the weekly SuperTrend line at ₹846; and may face intermediate resistance around ₹800 and ₹820.   

 


Akzo Nobel India

Current Price: ₹3,377  S1: ₹3,333;  S2: ₹3,285;  S3: ₹3,208  R1: ₹3,520;  R2: ₹3,600;  R3: ₹3,680  Akzo Nobel India stock may seek support at the 20-DMA at ₹3,333; below which key support is seen at the 200-DMA at ₹3,285 and ₹3,208. On the upside, resistance for the stock is visible at ₹3,520 and ₹3,600 levels; above which it may revisit July-month high at ₹3,680.   

  (Note: S1, S2, S3 and R1, R2, R3 are indicative support and resistance levels as per technical charts). 



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