Breakout Stocks: How to trade Torrent Pharma, SBI Life and eClexr that hit fresh 52-week high?
Analyst: Kunal Kamble, Sr. Technical Research Analyst at Bonanza
Torrent Pharma: HOLD
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SBI Life Insurance: Buy On Dip
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eClerx: Avoid
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The Indian market closed in the red for the second consecutive day in a row on Friday. The BSE Sensex fell more than 700 points while the Nifty50 closed below 24900.Sectorally, buying was seen in healthcare while selling was seen in oil & gas, power, utilities and capital goods.Stocks that hit 52-week high include names like Torrent Pharma which rose more than 2%, SBI Life gained nearly 2% and eClerx pared gains and closed 0.3% lower on Friday.Torrent Pharma has given a breakout above the falling trendline (initiated on 23rd June 2025) and has now also surpassed its previous swing high, confirming a bullish continuation.The rise in volume during the breakout session reflects strong buying interest at current levels. The price is trading above all key EMAs, which suggests the broader trend remains positive.The RSI has broken above its resistance zone, pointing toward rising momentum. On the directional front, DI+ is above DI-, and the ADX is trending higher, indicating growing strength in the ongoing up move.The stock has opened the path for a potential upside towards 3800–4200. Hold long positions with a trailing stop-loss at 3460.SBI Life is currently consolidating near its resistance zone, reflecting a tug-of-war between buyers and sellers. While buyers are showing interest on dips, the inability to surpass the resistance suggests hesitation at higher levels.The RSI flattening at the upper range signals a pause in momentum, and the directional indicators (DI+, DI-) are converging, which reflects a lack of clear trend.Additionally, a flat ADX confirms the absence of strength in the ongoing move. The stock is likely to remain range bound in the short term, but dips may continue to attract buying interest. Accumulation on declines could be considered.eClerx is currently trading near its resistance zone and has formed a shooting star pattern on the weekly chart, which serves as an early indication of potential reversal.The recent rise in price accompanied by declining volume reflects weakening conviction in the ongoing up move. The momentum indicator (RSI) is slipping from higher levels, suggesting a possible loss of strength.The setup indicates caution at current levels. A move above ₹3882, backed by strong volume, would be required to validate further upside. Avoid fresh entries at current levels. Wait for a breakout above ₹3882 with volume confirmation for any bullish consideration.: Recommendations, suggestions, views, and opinions given by experts are their own. These do not represent the views of the Economic Times)
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