Expert Stock Recommendations: Tata Chemicals, IRCTC, and Colgate-Palmolive Show Strong Breakout Potential
Mehul Kothari, DVP - Technical Research at Anand Rathi Shares and Stock Brokers, has identified three compelling stock recommendations based on technical analysis. The stocks—Tata Chemicals, Indian Railway Catering and Tourism Corporation (IRCTC), and Colgate-Palmolive (India) Ltd.—exhibit strong breakout patterns with defined targets and stop-loss levels.
Tata Chemicals: Breakout from Base with Robust Trend Strength
Buy Range: ₹710–₹705 | Stop Loss: ₹680 | Target: ₹780
Tata Chemicals has established a solid base near its Monthly Floor Pivot support, indicating significant demand at lower price levels. The stock has successfully broken out of its regression channel, with Pearson’s R at an impressive 0.96, reflecting a strong and consistent trending structure.
This breakout is further supported by healthy trading volume, suggesting improving momentum and sustained buying interest from investors. The technical setup points to continued upward movement, making it a favorable pick for traders looking for growth opportunities.
IRCTC: Bollinger Band Breakout Signals Momentum Expansion
Buy Range: ₹640–₹635 | Stop Loss: ₹612 | Target: ₹702
IRCTC has emerged from a Bollinger Band squeeze, marking the end of a low-volatility consolidation phase. This breakout is accompanied by volume expansion, indicating the potential start of a new trending move.
The Directional Movement Index (DMI) remains positive, with the +DI above the –DI, and the Average Directional Index (ADX) turning upward. This combination supports strengthening upside momentum, making IRCTC a stock to watch for near-term gains.
Colgate-Palmolive: Alligator Alignment Confirms Bullish Momentum
Buy Range: ₹2205–₹2180 | Stop Loss: ₹2045 | Target: ₹2450
Colgate-Palmolive has closed above the Alligator indicator, with all three lines aligned and moving parallel. This alignment indicates a strong trending structure, reinforcing the bullish outlook.
The DMI setup remains positive, with the ADX rising, while a bullish MACD crossover confirms improving momentum. The confluence of these technical indicators supports a continued upside bias, positioning Colgate-Palmolive as a reliable choice for investors seeking stability and growth.
Disclaimer: Recommendations and views on the stock market, other asset classes, or personal finance management tips given by experts are their own. These opinions do not represent the views of The Times of India or Bharat Horizon.
