Breakout stocks today: IRFC, RVNL, Axis Bank, Tata Motors, Ashok Leyland, SBI to BoB — 15 Nifty 50 stocks in focus

Breakout stocks today: Amid Q4 results 2024 season, retail investors would be busy finding a value pick. However, they would be vigilant about the technical outlook of the stocks which is looking strong from the fundamental perspective. For such Indian stock market investors, there is a piece of stock market news. A total of 15 Nifty 50 stocks have given breakout on Friday. Those 15 breakout stocks include shares from banking, railways, auto, PSU, and pharma sectors. Those 15 shares include Ashok Leyland, State Bank of India (SBI), Bank of Baroda (BoB), Rail Vikas Nigam Ltd (RVNL), Indian Railway Finance Corporation (IRFC), Tata Motors, Divi's Laboratories, Aurobindo Pharma, etc.

Breakout stocks today

Speaking on the breakout stocks in the Indian stock market today, Aditya Gaggar, Director of Progressive Shares said, "The markets witnessed a profit booking session on 26th April by ending the session lower at 22,420. From the Banking space, Axis Bank (Falling Channel Breakout), IDFC First Bank (Flag and Pole Breakout), SBIN (Symmetrical Triangle Breakout), and Bank Baroda (On the verge of a breakout) look strong. Bullish Flag and Pole formation breakout in the Auto sector indicate an extension of the current trend (Ashok Leyland- Lower Top Lower Bottom Breakout, Motherson Sumi- Inverted Head & Shoulder Breakout, Eicher Motors/ Escorts- Strong momentum, and Tata Motors/Tata Motors DVR- On the verge of a Symmetrical Triangle Breakout)."

"Coal India from the Energy segment is on the brink of giving a breakout from an Inverted Head & Shoulder Formation. We have been optimistic about the Metal sector for the past couple of weeks and continue to hold the same. Some of the Pharma stocks have given a strong breakout and they are Biocon (Symmetrical Triangle Breakout), Divis Labs (Inverted Head & Shoulder Breakout), AuroPharma and Dr. Reddy (Bullish Flag and Pole Breakout), and JB Chemical (Rounding Bottom Breakout). Railway counters regained their lost momentum and we feel that strong performance can be expected from them (Ircon, IRFC, and RVNL- Inverted Head & Shoulder Breakout)," Aditya Gaggar of Progressive Shares added.

Asked about the fundamentals of these 15 breakout stocks, Sandeep Pandey, Founder of Basav Capital said, "In the banking segment, SBI, BoB and Axis Bank share are looking strong whereas in the auto segment, Tata Motors and Ashok Leyland can be a good value pick. He said that Coal India shares can be a good value pick in the PSU segment whereas railway stocks giving breakout on Friday may continue to remain an idea buy-on-dips railway PSU stocks."

Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.