Breakout Stocks: How are Restaurant Brands Asia, UCO Bank and Vodafone Idea looking on charts for Monday’s trade?

Nifty gained 1.8% last week to the 20,000 mark for the first time as attention shifted away from mid and smallcap stocks. Analysts believe that FII selling may accelerate due to a renewed spike in US treasury yields and a fresh uptick in global crude oil prices.

During the week, IT, banking and pharma were among the top gainers while realty and energy closed in the red.

We have collated a list of three stocks that either hit a fresh 52-week high, or all-time high or saw a volume or a price breakout.

We spoke to an analyst on how one should look at these stocks the next trading day entirely from an educational point of view:

Analyst: Hariprasad Kizhakkethara, SEBI Registered RA (INH200009351), Director of Livelong Wealth

UCO Bank
The stock went up by more than 8% in a single day. The overall

sentiment in the PSU Index is very bullish. The stock was forming an ascending triangle pattern continuously facing strong rejection from the price level of Rs 36.5 since Dec 2022. Now it is heading toward its next target which is of Rs 45 level. The stock is experiencing a good buying pressure from that Rs 36.90 level. It has even crossed 50MA in the volume chart.

Vodafone Idea
The stock was moving in a zone for the last 7 months. It has given a breakout from the resistance trendline and has crossed an important zone of Rs 10.40-11.50 with a green bullish candle and with good volumes also (crossed 50MA on the volumes chart). If it sustains above this resistance zone, it will rally upside till Rs 14.20 as T1 price level and Rs 16.50 as the T2 price level.

Restaurant Brands Asia
Earlier, the stock was facing resistance from its trendline since listing in Dec 2020. Now it has given a breakout with the bullish green candle and did the retest. Earlier, the stock was moving in a consolidation since Dec 2022 and recently it gave a breakout with green bullish candle and with really good volumes (crossed 50MA on volumes chart). There is a high possibility of upside rally till Rs 171 T1 price level and Rs 215 T2 price level.

(Disclaimer: Recommendations, suggestions, views, and opinions given by experts are their own. These do not represent the views of the Economic Times)

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