[Premium] We're Buying These Breakouts

Havells India is a name we need to be long if prices are above 715, with an upside target of 969.

Click on chart to enlarge view.

Jubilant Food is attempting a breakout as well. If prices are above 1,355 we can be long with a target near 1,955.

We want to be long Britannia Industries as it breaks out above 3,212. Our next intermediate-term upside target is 4,425.

We want to be long Asian Paints Ltd. if prices break above 1,460 and taking profits near 1,835.

Dabur India is attempting another breakout above 455 after working off its failed attempt through time. If we're above that level we can be long with a target of 592.

HCL Technologies is attempting another breakout as momentum gets back into overbought conditions. If prices are above 1,060, we can be long with a target of 1,274.

Tata Consultancy may finally be catching up to the other IT stocks already breaking out. If it's above 2,055, we can be long with a target of 2,690.

Tech Mahindra is the last name we're buying if prices are above 750, with a target of 988.

As you can see, all of these names are from the Consumer Goods and IT sectors. More importantly our risk is so small for each of these trades and our reward is many multiples of that.

Whether they fail or not isn't important. The weight of the evidence suggests that we want to be buying stocks and that these names are heading higher, so until the data changes that's exactly what we'll do.

Thanks for reading and please let us know if you have any questions.

Allstarcharts Team