New Delhi, May 5 -- On Friday, the Nifty 50 traded with increased volatility but managed to hold above 24,300 points, maintaining its broader uptrend. Despite sharp intraday fluctuations the index remained resilient, reflecting underlying bullish sentiment. Barring Nifty Media and IT, all major sectoral indices closed in the red, with consumer durables, metal, pharma, and realty the biggest losers.

ADANI PORTS(Current price: Rs.1,267)

Why it's recommended: The stock has given a good breakout and was able to close above the important level of Rs.1,260. Also, on the hourly chart, the stock has given a bullish pennant breakout with RSI showing bullish momentum.

Breakout level: Rs.1,260 | Pattern: Bullish pennant breakout (hourly chart) | ...