Breakout Stocks: How to trade Torrent Pharma, SBI Life and eClexr that hit fresh 52-week high?
Tired of too many ads?
Remove Ads
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: Kunal Kamble, Sr. Technical Research Analyst at Bonanza
Torrent Pharma: HOLD
Tired of too many ads?
Remove Ads
SBI Life Insurance: Buy On Dip
Tired of too many ads?
Remove Ads
eClerx: Avoid
The Indian market closed in the red for the second consecutive day in a row on Friday. The BSE Sensex fell more than 700 points while the Nifty50 closed below 24900.Sectorally, buying was seen in healthcare while selling was seen in oil & gas, power, utilities and capital goods.Stocks that hit 52-week high include names like Torrent Pharma which rose more than 2%, SBI Life gained nearly 2% and eClerx pared gains and closed 0.3% lower on Friday.Torrent Pharma has given a breakout above the falling trendline (initiated on 23rd June 2025) and has now also surpassed its previous swing high, confirming a bullish continuation.The rise in volume during the breakout session reflects strong buying interest at current levels. The price is trading above all key EMAs, which suggests the broader trend remains positive.The RSI has broken above its resistance zone, pointing toward rising momentum. On the directional front, DI+ is above DI-, and the ADX is trending higher, indicating growing strength in the ongoing up move.The stock has opened the path for a potential upside towards 3800–4200. Hold long positions with a trailing stop-loss at 3460.SBI Life is currently consolidating near its resistance zone, reflecting a tug-of-war between buyers and sellers. While buyers are showing interest on dips, the inability to surpass the resistance suggests hesitation at higher levels.The RSI flattening at the upper range signals a pause in momentum, and the directional indicators (DI+, DI-) are converging, which reflects a lack of clear trend.Additionally, a flat ADX confirms the absence of strength in the ongoing move. The stock is likely to remain range bound in the short term, but dips may continue to attract buying interest. Accumulation on declines could be considered.eClerx is currently trading near its resistance zone and has formed a shooting star pattern on the weekly chart, which serves as an early indication of potential reversal.The recent rise in price accompanied by declining volume reflects weakening conviction in the ongoing up move. The momentum indicator (RSI) is slipping from higher levels, suggesting a possible loss of strength.The setup indicates caution at current levels. A move above ₹3882, backed by strong volume, would be required to validate further upside. Avoid fresh entries at current levels. Wait for a breakout above ₹3882 with volume confirmation for any bullish consideration.: Recommendations, suggestions, views, and opinions given by experts are their own. These do not represent the views of the Economic Times)
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
India Today
a few seconds ago
- India Today
Ajit Doval arrives in Moscow amid Trump's fresh tariff threat for Russia oil buys
National Security Adviser Ajit Doval has arrived in Moscow for a visit focused on strengthening India's defence and energy ties with Russia. The visit comes as the United States raises concerns over India's ongoing oil trade with President Donald Trump recently criticised India for continuing to buy Russian oil while staying neutral on the Ukraine conflict. He also warned of possible trade tariffs on Indian to a TASS report, the visit is part of a planned schedule and will focus on defence cooperation between India and Russia. "The current escalation of the geopolitical situation will also be discussed. Apart from that the topics will include such pressing matters as supplies of Russian oil [to India]," the source said. Earlier, on Monday, the Ministry of External Affairs issued a statement rejecting criticism from the US and EU over India's imports of Russian oil, calling it unjustified. The ministry noted that Western countries had earlier supported such trade to help stabilise global energy markets and continue to engage in trade with Russia Moscow, Doval is expected to hold talks on defence industry cooperation. Discussions may include the possible purchase of more S-400 missile systems, setting up maintenance infrastructure in India and exploring options for acquiring Russia's Su-57 fighter visit is seen as part of India's effort to follow an independent foreign policy and maintain its partnerships based on national External Affairs Minister S. Jaishankar is also scheduled to visit Russia on August 27 and 28. His visit will focus on defence, energy, and trade discussions. Jaishankar will meet Russian Foreign Minister Sergey Lavrov to discuss bilateral and international issues. He will also meet Russian Deputy Prime Minister Yury Borisov to co-chair the India-Russia Inter-Governmental Commission on Technical and Economic Ministry of External Affairs has said that India's relations with Russia are based on mutual understanding and should not be judged by other countries.- EndsMust Watch IN THIS STORY#Russia
Deccan Herald
a few seconds ago
- Deccan Herald
Bengaluru: Aster DM Healthcare to invest Rs 580 crore on 500-bed hospital in Yeshwanthpur
Bengaluru: Healthcare provider Aster DM Healthcare on Tuesday announced a Rs 580-crore investment to develop a 500-bed multi-specialty hospital in Yeshwanthpur. This new facility will be Aster's fifth hospital in Bengaluru, bringing its total bed capacity in the city to 2,580 new hospital is expected to be operational in the second half of FY Azad Moopen, founder and chairman, Aster DM Healthcare, said, 'The Yeshwanthpur hospital marks a significant milestone in Aster DM Healthcare's India growth strategy, especially in a vibrant and rapidly evolving healthcare market like Bengaluru. With this addition, we are expanding our capacity in the city to 2,580 beds—making it one of the largest private hospital networks in a single Indian metro.'.'Equip maxillofacial surgeons in govt hospitals'. 'Over the next few years, we aim to significantly increase our presence across South India by entering new cities and strengthening our footprint in existing ones,' he added.. Yeshwanthpur caters to a catchment of nearly 3–4 million people, with growing demand for advanced tertiary healthcare services.
The Hindu
a few seconds ago
- The Hindu
Don't give China pass, burn relationship with 'strong ally' India: Nikki Haley
The U.S. should not burn its relationship with a 'strong ally like India' and give a pass to China, Indian-American Republican leader Nikki Haley said on Tuesday (August 5, 2025), amid President Donald Trump's attacks against New Delhi over tariffs and purchases of Russian oil. 'India should not be buying oil from Russia. But China, an adversary and the number one buyer of Russian and Iranian oil, got a 90-day tariff pause," Ms. Haley said in a post on X. "Don't give China a pass and burn a relationship with a strong ally like India,' she said. Ms. Haley, the former Governor of South Carolina, was the U.S. Ambassador to the United Nations under Mr. Trump's first presidential term, becoming the first Indian-American to be appointed to a cabinet-level post in the U.S. administration. In 2013, she officially announced her candidacy for the 2024 presidential election and withdrew from the race in March last year. Her comments came hours after Trump said India has not been a "good trading partner" and announced he will raise tariffs on India 'very substantially over the next 24 hours' because New Delhi is buying Russian oil and "fueling" the "war machine". India on Monday mounted an unusually sharp counterattack on the US and the European Union for their "unjustified and unreasonable" targeting of New Delhi for its procurement of Russian crude oil. New Delhi's response came after Trump asserted that Washington will substantially raise tariffs on goods from India over its energy ties with Russia. Meanwhile, Trump, in an interview with CNBC responded to a question on China and its leader, Xi Jinping, and said, 'We have a very good relationship'. Trump added that he might have a meeting with the Chinese President 'before the end of the year, most likely, if we make a deal." He said he won't have a meeting if a deal doesn't materialise. "But we're getting very close to a deal. We're getting along with China very well.' Trump added that China is 'very reliant" on the US. 'My relationship with them is very good. I think we'll make a good deal. It's not imperative, but I think we're going to make a good deal.' He added that he has had a 'great relationship' with President Xi. 'We respect him a lot. They respect us a lot.'
