​Breakout Stocks: How to trade Aditya Birla Sun Life AMC, Federal Bank and Coforge on Thursday – Market Summary

Today, the stock almost gave a breakout with a strong bullish green candle, rising more than 2.3% in a day. However, it closed below its strong resistance zone of 829–837. This stock should be on the radar, with traders waiting for it to close above the 838 price level.

Once the stock breaks out, the potential target will be Rs 905.35 as T1 and Rs 989 as T2 in the coming days. The strong support and stop-loss are at Rs 772.

The stock has delivered a solid performance over the past year, returning 41%, and 69% in the last six months.

The stock is experiencing good buying pressure and has crossed the 50-day moving average (50MA) on the volume chart.