🕗Updated at 7:00 AM IST 22 June 2026
Breakout Stock for Today
At Chanakya Ni Pothi, India’s oldest investment & IPO research weekly with a legacy of 33+ years, we bring you fresh “Breakout Stock Today” from Paresh Gordhandas — actionable Intraday stock recommendations for today, before market opening.
Refex Industries Ltd – Breakout Stock Strategy Today
for 22 June 2026
Purpose: Delivery / Swing Trading
Time Horizon: 1–8 Weeks
Trade Setup
| Instrument | Trade | Buy Zone | Target | Stop Loss |
|---|---|---|---|---|
| Refex Industries | Buy on Dips | Rs. 325 – 340 | Rs. 358 / 385 | Rs. 304 |
| Refex Industries | Breakout Buy Above | Rs. 348 | Rs. 385 / 412 | Rs. 320 |
| Refex Industries | Sell Below | Rs. 304 | Rs. 277 / 250 | Rs. 340 |
Why This Trade?
Refex Industries closed at Rs. 336.90 after gaining 5.73% in a single session. The stock has delivered a strong 8.33% return in one week, 21.60% in one month, and an impressive 61.75% return over the last three months, indicating sustained buying interest and momentum accumulation.
The stock is trading comfortably above its 20 DMA, 34 DMA, 50 DMA and 200 DMA. Price action remains firmly above the Parabolic SAR while momentum indicators continue to support the ongoing uptrend.
The stock has already delivered:
• 8.33% return in 1 week
• 21.60% return in 1 month
• 61.75% return in 3 months
• -28.96% return in 1 year
The stock is showing:
| Trend Type | View |
|---|---|
| Short-term trend | Bullish |
| Medium-term trend | Bullish |
| Long-term trend | Bearish |
Price is:
• Trading above 20 DMA, 34 DMA and 50 DMA
• Trading above 200 DMA support
• Trading near Upper Bollinger Band at Rs. 339.32
• Holding above Parabolic SAR support at Rs. 300.59
• Showing higher-high and higher-low formation
• Approaching a major breakout trigger near Rs. 348
Breakout Stocks for Today – Indicators suggest:
• RSI at 67.78 → Strong bullish momentum
• ADX at 43.77 → Powerful trending move underway
• DMI+ at 34.63 vs DMI− at 12.08 → Bulls firmly dominate
• MACD remains positive above signal line
• Stochastic RSI at 100 → Momentum expansion phase
• CCI at 168.10 → Breakout territory
• ATR at 15.38 → Healthy trading range and volatility
👉 Conclusion:
Refex Industries is witnessing strong momentum accumulation after a sustained rally from recent lows. The stock remains above all key moving averages and continues to attract buying support on declines.
As long as Rs. 304 remains protected, traders can maintain a bullish bias. A decisive breakout above Rs. 348 could potentially trigger the next rally towards Rs. 385–412 in the coming weeks.
Key Intraday Levels
| Level Type | Price |
|---|---|
| Pivot Point | Rs. 331.30 |
| Immediate Support | Rs. 320.60 |
| Strong Support | Rs. 304.30 |
| Immediate Resistance | Rs. 347.60 |
| Strong Resistance | Rs. 358.30 |
| Major Breakout Zone | Rs. 348 |
Technical View
| Indicator | Observation |
|---|---|
| RSI | 67.78 (Strong bullish momentum) |
| MACD | Positive crossover intact |
| ADX | 43.77 (Strong trend strength) |
| Bollinger Bands | Trading near upper band |
| StochRSI | Strong momentum expansion |
| CCI | 168.10 (Breakout territory) |
| Momentum | Positive and accelerating |
Breakout Strategy
| Scenario | Action |
|---|---|
| Above Rs. 348 | Fresh breakout rally possible |
| Sustains above Rs. 358 | Upside may extend toward Rs. 385–412 |
| Below Rs. 304 | Near-term weakness may emerge |
| Below Rs. 277 | Selling pressure may intensify |
Trading Meaning
Refex Industries is displaying a strong bullish structure supported by rising momentum, strong ADX readings and positive price action above all key moving averages.
The combination of positive MACD, strong DMI setup, rising RSI and strong CCI readings indicates continued institutional participation.
A decisive move above Rs. 348 could trigger fresh momentum buying and potentially open the path toward Rs. 385–412 levels during the next 4–8 weeks.
Best Strategy for Traders
• Conservative traders can wait for breakout confirmation above Rs. 348
• Aggressive traders may accumulate near Rs. 325–340 support zone
• Partial profit booking is advisable near Rs. 358–365
• Momentum traders should monitor volume expansion above Rs. 348
• Intraday traders should closely watch Pivot Point Rs. 331.30
Pro-Level Upgrade (What Big Players Do)
Institutional traders generally prefer stocks that trade above all major moving averages while maintaining a rising ADX structure.
Smart money usually prefers:
• Buying near pivot and moving-average support zones
• Adding fresh positions only after breakout confirmation above Rs. 348
• Using trailing stop losses during trend continuation
• Booking partial profits near resistance clusters
• Monitoring volume participation above Rs. 348
Chanakya View
Among the mid-cap momentum candidates, Refex Industries currently offers one of the strongest risk-reward setups. With RSI still below 70, ADX above 40 and price trading above major averages, the stock remains suitable for a 4–6 week swing trade with a potential upside towards Rs. 385–412.