Breakout Stocks to Keep An Eye On - Nykaa & Balrampur Chini

Jul 31NYKAA

• The stock had been experiencing a significant consolidation period, during which it created an Ascending Triangle pattern.
  
• Following a breakout, the price initially surged but encountered resistance around the 195 level, leading to a sharp pullback.
  
• Subsequently, the stock price began to rise again but met resistance at the 187 level this time.
  
• After a brief consolidation, it developed a Cup & Handle pattern.
  
• Recently, a powerful breakout occurred, backed by substantial trading volume, indicating that the price is poised for a significant upward movement.
  

BALRAMPUR CHINI

• The stock price experienced a significant pullback after it fell below the Rising Wedge pattern.
  
• Following this, it entered a prolonged consolidation period, during which it developed an Inverted Head and Shoulders pattern.
  
• After the breakout, the price initially soared but underwent a brief consolidation once more before breaking out again.
  
• This movement also marks a breakout from the Rounding Bottom pattern, suggesting substantial upside potential for the stock.
  

Aug 28

Comment

NYKAA


Based on our analysis, the stock price moved nearly 25% from the breakout level within just one month. We anticipate further movement ahead.

BALRAMPUR CHINI


This stock has also experienced an impressive price increase of nearly 23% from its breakout level in just a month. We expect the price to continue climbing from its current position.