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Balrampur Chini, Datamatics, Castrol and Cyient seen in bullish breakouts
The call highlights Balrampur Chini Mills breaking above the prior two sessions’ highs on higher volume, with 21-Day EMA support and a 657 downside level cited.
LiveMint Markets says Sumeet Bagadia, Executive Director at Choice Broking, has recommended four stocks for the near term based on their technical setups and price momentum: Balrampur Chini Mills, Datamatics Global Services, Castrol India and Cyient.
For Balrampur Chini Mills, the story points to renewed upward traction after the stock took support along its rising trend line, then posted a breakout above the highs of the previous two sessions.
The report adds that the move came with an increase in volume, the shares have sustained and closed above the 21-Day EMA, and the Supertrend indicator is signaling bullish continuation, with 657 described as the key downside level and 750 cited as an objective if strength follows through.