High five breakout system: Dont miss out action on these stocks today!

Indian markets were seen trading in green in early deals on Wednesday with Nifty & Sensex inching higher by 0.37 per cent and 0.30 per cent, respectively.   

The broader market indices are seen outperforming the frontline gauges with Nifty Midcap 100 and Smallcap 100 rising by 0.59 and 0.95 per cent, respectively. Market breadth is in favour of advances.   

As the broader market indices are seen outperforming for the second day in a row on Wednesday, it is interesting to check the five-day breakout strategy.   

We have curated a list of stocks that have seen a five-day breakout from Nifty 500 index.   

Adani Total Gas: The stock is locked at upper circuit limit and with this, it has witnessed a five-day breakout.   

Bajaj Electricals: On a WTD basis, the stock is up by 18 per cent and has registered a fresh high on Wednesday. Interestingly, we are in just the first hour of trade and the stock has already surpassed its previous trading volume. So, a five-day breakout is witnessed on the back of a spurt in volume.   

Hindustan Aeronautics: The stock has witnessed a five-day breakout and also, seen a flat base pattern breakout with a surge in volume.   

HDFC Life Insurance: The stock was seen underperforming the benchmark indices. However, on Wednesday, it is seen outperforming as it has gained over 2 per cent and also, witnessed a five-day breakout.   

Oil India: The stock has seen a breakout of a 5-day high and it is on the verge of witnessing a breakout of a 7-week cup pattern; hence, watch out!  

SBI Cards & Payment Services: The stock is seen trading above its 5-day high and hence, one should keep a close watch on this stock.   

Venky’s (India): The stock has seen good volume in the first hour of trade and at the same time, it has managed to move above the 5-day high.   

Note: This is not a trading recommendation.