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Sumeet Bagadia recommends breakout stocks ITC Hotels, RR Kabel, MCX and others

Choice Broking’s Sumeet Bagadia said ITC Hotels broke above a prior high on heavier volume, with 157 framed as the key downside level.

Reported · Written up by our desk · Equities

LiveMint Markets highlights recommendations by Sumeet Bagadia, Executive Director at Choice Broking, who pointed to five equities he says have constructive breakout setups: ITC Hotels, RR Kabel, MCX, Texrail, and UBL.

For ITC Hotels, Bagadia cited a daily-chart move above the previous high that came with a volume uptick, and he said the stock is holding a higher-highs, higher-lows pattern on the hourly chart. He flagged 157 as the key downside marker and said continued strength could support a move toward the 178 objective.

Regarding RR Kabel, Bagadia said the stock has shifted positively after breaking out from a sideways trading range, while staying above the 21-day EMA. He added that RSI signals suggest bullish divergence and said the 2,400 level should be monitored as a risk zone, with upside potentially extending toward 2,780 if strength persists.

On MCX, the outlet reports Bagadia described a bullish setup after the stock held support at its 50-day EMA and broke above a multi-month falling resistance trend line. He also cited a volume surge behind the breakout and noted the daily RSI at 64.15, while describing the setup as constructive around the 3,428 area with 3,260 as a key level to watch.

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