- CLSA identifies Delhivery, Titan, Shriram Finance, Max Healthcare as breakout stock picks
- Delhivery targets Rs 655 with stop-loss below Rs 481 after breakout zone hold
- Shriram Finance and Max Healthcare offer entry near moving averages for potential breakouts
CLSA has named Delhivery and Titan among four stocks it expects to break out with the brokerage's technical desk pointing to fresh entry opportunities across logistics, jewellery, financial services and healthcare counters.
In its "India Technicals" note dated July 14, CLSA technical analyst Laurence Balanco said Delhivery's pause above the upper boundary of its Rs 484-490 breakout zone offers an attractive risk-reward entry point. The brokerage expects the stock to resume its breakout from a 2025-26 cup-and-handle consolidation pattern, a formation that supports an upside objective of Rs 655. The stock closed at Rs 512.30 on July 13. CLSA said a bullish bias holds while prices stay above the Rs 484-490 zone, with a close below Rs 481 marking the initial stop-loss trigger.
Titan's breakout is described as more decisive. The stock has moved past the Rs 4,539-4,589 resistance zone, the upper boundary of its February-July trading range, confirming a fresh momentum breakout and reinforcing a longer-term move out of its 2024-25 consolidation range, the note said. This projects an upside target of Rs 5,250-5,260 from its July 13 close of Rs 4,601.50, with a close below Rs 4,306 serving as the stop-loss level.
CLSA has given calls on Delhivery, Titan, Shriram Finance and Max Headlthcare in its latest technical note.
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CLSA's fundamental analyst Aditya Soman rates Titan Outperform, having flagged a strong start to FY27 for the jewellery major in a separate note.
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The other two picks round out the list. Shriram Finance's pullback towards its 50-day moving average offers an entry point ahead of a potential resumption of its late-June breakout from a March-June triangle consolidation, with an upside target of Rs 1,230-1,240; the stock closed at Rs 1,048.10. Max Healthcare's retracement into the Rs 1,045-1,060 support zone, where its 50-day and 200-day moving averages converge, is seen as a set-up for a breakout from a January-June basing pattern, targeting Rs 1,363; the stock closed at Rs 1,106.20. Both Shriram Finance and Max Healthcare also carry Outperform ratings from CLSA's sector analysts Piran Engineer and Kunal Lakhan, respectively.
CLSA's technical calls are based on price and momentum patterns and are separate from the brokerage's fundamental stock ratings, though the note flagged that three of the four picks currently align with Outperform calls from CLSA's coverage analysts.
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