3 Breakout Shares to Watch out for Next Week!

  • Stock Market Analysis
Aayush Khanna/Investing.com - Investing.com

Friday’s session was full of volatility with the benchmark Nifty 50 index seesawing up and down throughout the session. However, the closing was a pretty good one as it rallied 1.38% to 17854.05, with HDFC twins taking charge.

Many counters have come on my radar which might provide a good long opportunity to bulls in the next week. Here’s a list of 3 such breakout shares.

Aavas Financiers Limited

Aavas Financiers Ltd (NS: AVAS ) is a small-cap housing finance company with a market capitalization of INR 14,712 crores. It is engaged in providing home loans to customers belonging to low and middle-income segments in rural and semi-urban areas. The share price of Aavas Financiers jumped 7.37%to INR 1,998.65 on Friday, giving a breakout above the falling trendline resistance.

Daily chart of Aavas Financiers with volume bars at the bottom

Image Description: Daily chart of Aavas Financiers with volume bars at the bottom

Image Source: Investing.com

The volume for the day was also pretty good, at 582.8K shares which is 334% higher than the 10-day average volume of 134.2K shares. A level of around INR 2,100 seems achievable in the next few sessions.

Mahindra Lifespace Developers Limited

Mahindra Lifespace Developers Ltd. (NS: MALD ) is a INR 5,401 crores big real estate developer engaged in the development of residential projects and large format developments, such as integrated cities and industrial clusters. The share price of Mahindra Lifespaces Developers soared 8.8% to INR 380.05, breaking above a downward-sloping channel.

Daily chart of Mahindra Lifespace Developers with volume bars at the bottom

Image Description: Daily chart of Mahindra Lifespace Developers with volume bars at the bottom

Image Source: Investing.com

It is a trend reversal indicator that is projecting an upside trajectory for the stock. There is a decent potential of around INR 35-rally to INR 415 in the next couple of weeks. Interestingly, the stock had also formed a bullish divergence prior to the breakout which is further strengthening the bullish view on this counter.

Grindwell Norton Limited

The last stock on the list is Grindwell Norton Ltd (NS: GRNN ), which manufactures abrasives, ceramics & plastics, having a market capitalization INR 21,924 crores. The share price of Norton Grindwell delivered a breakout from a Flag pattern on Friday, surging 2.53% to INR 2,030.25 by the closing. 

Daily chart of Grindwell Norton with volume bars at the bottom

Image Description: Daily chart of Grindwell Norton with volume bars at the bottom

Image Source: Investing.com

After a quick rally in the first half of January 2023, the stock started consolidating into a range which turned the whole price action into a Flag pattern. Today’s breakout above the resistance might propel the stock to INR 2,200 which might take a bit of time.

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  • Navin More @Navin More
    out of three, Aavas looks great potential, buying should be few ticks above the last closing
    Like 0
  • Navin More @Navin More
    these are all breakout trades
    Like 0
  • Komal Sikka @Komal Sikka
    Awesoem analysis
    Like 1
    • Aayush Khanna/Investing.com @Aayush Khanna/Investing.com
      Thanks, Komal.
      Like 0

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  • Shyda Garikapati @Shyda Garikapati
    Out of these three, Aavas has higher probability due to big sprike in volume
    Like 0
  • kumar gk @kumar gk
    Your analysis doesn’t have value post market reaction
    Like 8
  • Jattjames Bond @Jattjames Bond
    what about psu and private banks
    Like 0
  • Unnikrishna Pillai @Unnikrishna Pillai
    Right selection. Any view on Apar industries
    Like 0
    • Aayush Khanna/Investing.com @Aayush Khanna/Investing.com
      @Unnikrishna Pillai Strongly positive trend.
      Like 1

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  • namami ghosh @namami ghosh
    yaaay... have Aavas and Grindwell
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    • Aayush Khanna/Investing.com @Aayush Khanna/Investing.com
      @namami ghosh Haha!
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  • Jose Ittan @Jose Ittan
    FSL also
    Like 1
    • Himanshu Khatri @Himanshu Khatri
      Yes FSL i was looking in names of three :)
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  • CHAVDA MILAP @CHAVDA MILAP
    Thank you sir
    Like 1
    • Aayush Khanna/Investing.com @Aayush Khanna/Investing.com
      @CHAVDA MILAP You're welcome.
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      • Comment Guidelines

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  • Shah Raja @Shah Raja
    What's about m&m ?
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    • xtemp abc @xtemp abc
      Good choice 👍
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      • Comment Guidelines

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  • Ali Mushtaque @Ali Mushtaque
    👍
    Like 1

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