T20 breakout stocks: These need to be on your radar for July 6!

‘Twenty-20 breakout system’ suggests these stocks: Delta Corp, KRBL

Indian markets ended Monday’s session on a buoyant note with Nifty & Sensex registering gains of 0.71 per cent and 0.75 per cent, respectively. The market breadth was quite favourable. Over 10 per cent of the stocks of Nifty 500 index gained more than 3 per cent for the day, which is quite profound. The bullish tone is expected to continue as the technical picture looks quite rosy. Considering this, we have chalked a list of stocks, which can see some good action or a follow-up on Tuesday.   

An important point to note here is that these stocks are filtered using price action and volumes. Volume is greater in the last 20 days while the price closed at a 20-day high. We have named it as ‘Twenty-20 breakout system’.   

So, here is the list of stocks: 

Avanti Feeds: The stock has gained about 14 per cent on Monday and recorded a volume of over 80 lakh, which is quite unbelievable. Also, given that the stock had lacklustre performance before Monday’s move, one can assume that the action could continue to be seen in the stock.  

Delta Corp: Delta Corp advanced nearly 4 per cent with a volume of over 90 lakh. 

Gujarat Alkalies & Chemicals: The stock has gained nearly 7 per cent and also, managed to outperform Nifty 500 index. The stock is just 4 per cent away from its 52-week high.   

Jyothy Labs: The stock has met the criteria of 20-day high volume and closed at a 20-day high. It registered a fresh 52-week high on Monday.   

KRBL: KRBL logged double-digit gains on Monday, registering its highest daily closing after August 2020.   

Mahindra Holidays & Resorts India: The stock gained as much as 9 per cent and witnessed a breakout of a consolidation range.   

Pidilite Industries: The stock registered a fresh 52-week high on Monday and also witnessed an addition of nearly 11 per cent in July futures.   

Muthoot Finance: Last in the list but not least, this stock also saw a good move on Monday; hence, can be on the watchlist!