Breakout Stocks: What traders should do with Zensar Technologies, Suzlon and Dixon Tech that was up over 30% in May

Indian market closed in the red for the second day in a row on Thursday. The S&P BSE Sensex fell nearly 200 points while the Nifty50 closed below 18500 levels. Sector-wise, buying was seen in realty, healthcare, utilities, and IT stocks while some selloff was visible in banks, metals, energy, and telecom stocks.

Stocks that were in focus include names like Zensar Technologies (rose over 5%), Suzlon (fell more than 5%), and Dixon Technologies (closed flat but with a positive bias) on Thursday. All three stocks rose 30-40% each in May.

We have collated a list of three stocks that either hit a fresh 52-week high or saw a volume or a price breakout.


We spoke to Anwesha Panda, a trader, on how one should look at these stocks the next trading day entirely from an educational point of view:

Zensar Technologies Ltd: Cup and Handle pattern
Zensar Technologies has formed a Cup and Handle pattern on the daily chart. It has already given 38%+ returns in a span of 1 month and is currently trading near the resistance zone with tight consolidation on the daily chart.

It looks bullish on both weekly as well as daily time frames for mid-term to long-term investments.

Suzlon Energy Ltd: Inverted head and shoulder pattern

Suzlon has formed an inverted Head and Shoulder pattern on a weekly timeframe. Its price is on an uptrend on the weekly charts.

It has given 34%+ returns in the past 1 month. It is currently trading near the resistance zone with high volumes. Bullish upside momentum is likely to continue above the breakout zone.

Dixon Technologies Ltd: Trading above 200-EMA

Dixon has given a big breakout move above 3120m levels after multiple rejections on the daily timeframe. It is up 33%+ in a span of 1 month.

It is now trading above 200 EMA and is expected to perform well in the coming days. Good to go long for short- to mid-term after a small pullback.

(Disclaimer: Recommendations, suggestions, views, and opinions given by experts are their own. These do not represent the views of Economic Times)