Potential breakout stocks to watch: JSW Infrastructure and PB Fintech

JSW Infrastructure and PB Fintech are identified as upside potential stocks based on technical analysis. Both stocks have displayed promising technical setup, including price volume action before and a potential to bounce back and breakout. Currently trading at Rs 253 and Rs 1,124. respectively, their price structures align with positive signals from technical indicators like RSI and ADX, breakout scenario in the coming time.

JSW Infrastructure Ltd 

Daily chart of JSW Infrastructure Ltd

On the daily chart, JSW Infrastructure is presently showing consolidation close to its all-time high; the stock price is moving with an indecision candle. The stock price may resume its strong momentum-up advance in the upcoming trading sessions if it is able to cross and close above its all-time high level with the support of decent volume compared to down days volume. Volume is increasing right now, therefore it’s likely that traders are searching for a verified trade direction.

Those who are considering a possible trade in JSW Infrastructure might purchase the stock at the present price with a stop loss of Rs 241 and aim to buy above the firm’s all-time high.

The stock price is currently trading above all significant moving averages (EMAs), suggesting that it is likely about to turn short-term bullish once more. The stock price’s last uptrend saw a breakout from the base to a high of Rs 276 and generated gains for traders of 20.47% in only one month. The stock appears to be quite bullish when one looks at the Relative Strength Index, which is now trading at 60.77. The higher-than-average ADX of 33 indicates the present state of price momentum, which is probably going to build up speed once the 52-week high level is broken.

In the event of a retracement, it is essential to monitor key support levels, particularly at Rs 229. The minor upper resistance is 52-week high, and if the stock starts back-to-back closes above 52-week high, then the stock may consistently trade above current levels.

JSW Infrastructure Ltd. engages in the provision of development, operation, and maintenance of construction and port services.

PB Fintech Ltd 

Daily chart PB Fintech Ltd

With strong volume supporting the stock, PB Fintech’s current performance is typified by a favorable technical setup. The company is now trading at Rs 1,124 and has the ability to rise again and initiate a fresh uptrend. The stock price is currently trading slightly above the 20-day EMA in a lower ATR. Large amounts were previously traded on up days. The quantities are starting out slowly but are gradually increasing.

Those interested in a possible trade in PB Fintech could purchase the stock at the present price, setting a stop loss of Rs. 1,030, and aim for a target price that is higher than the firm’s all-time high.

The stock is trading above its 20-day and 50-day highs, and it is expected to find support at these levels going forward, given that it has bounced from them in the past. The prior stock price broke out of its base and gained 44.69% of its value. Relative Strength Index is now up from the bottom end of its historical range, trading at 64.52. This implies that there may be a big increase in the stock price. The ADX, which is now around 33, shows growing momentum and directional strength.

The level at Rs 1,000 serves as a crucial indicator for corrective movements and the overall market structure favours traders if the stock crosses and trades above the ATH.

PB Fintech Ltd. is an online platform for insurance and lending products.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. The information is based on various secondary sources on the internet and is subject to change. Please consult with a financial expert before making investment decisions.