Breakout stocks: Nykaa, DMart, Union Bank can rally up to 20%, hint charts

Union Bank of India, Avenue Supermarts (DMart), CCL Products, FSN E-Commerce Ventures and Tata Power among 9 NSE stocks with bullish MACD crossover on the daily charts.

Breakout stocks on the NSE: A total of 9 out of the Nifty 500 stocks have given a fresh breakout on the daily chart based on this particular key momentum indicator - the MACD (Moving Average Convergence-Divergence) indicator.

The MACD line for 9 stocks namely - Union Bank of India, Tata Power, EIH Hotel, Avenue Supermarts (DMart), CCL Products (India), Hindustan Petroleum (HPCL), PB Fintech (PolicyBazaar), FSN E-Commerce Ventures (Nykaa) and Indian Bank - crossed the respective signal line.

Technically, whenever the MACD line crosses from below to above the signal line, the indicator is considered bullish;