A 52-week high Technical Breakout occurs when a stock breaks the highest price level with strong momentum. Its Key characteristics are that no overhead resistances are there, and the resistance is broken with strong momentum.
Here is the list of 2 large-cap defence Companies that have given a 52-week high Breakout :
About the Company
Mazagon Dock is one of India’s leading defence public sector undertakings (PSUs), headquartered in Mumbai. Established in 1934, it is India’s premier shipyard specialising in the construction of warships and submarines for the Indian Navy and offshore platforms for the oil and gas sector. MDL has built several frontline naval vessels, including stealth frigates, destroyers, and conventional submarines under projects like the Scorpène-class submarine program.
With a market capitalisation of Rs. 1,26,361 crores, the stock is trading at Rs. 3,114. The breakout took place at the Price of Rs. 2,878. The closest support zone is at Rs. 2,757 to Rs. 2,680 levels.
About the Company
Solar Industries, headquartered in Nagpur and established in 1995, is one of the largest manufacturers of industrial explosives and defence explosives in India. The company started as an industrial explosives manufacturer serving the mining and infrastructure sectors, but has significantly diversified into the defence sector by supplying propellants, warheads, and rockets.
With a market capitalisation of Rs. 1,20,027 crores, the stock is trading at Rs. 13,254. The breakout took place at the Price of Rs. 12,406. The closest support zone is at Rs. 11,538 to Rs. 11,133 levels.
Written By Abhishek Das
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