Breakout stocks: Stocks breaking their previous day high, a must watch out list for intraday traders!

The month of November was quite a terrifying one for the Indian benchmark indices as Nifty lost nearly 4 per cent on an MoM basis. With this, it recorded its worst monthly decline in the calendar year 2021. Moreover, the foreign institutional investors (FIIs) recorded the highest monthly selling in November as they sold close to Rs 40,000 crore in the cash market, which is the highest this year. Earlier, they sold Rs 25,572 crore in October and Rs 23,193 crore in July.   

The performance of the broader markets was also quite dull, but it relatively outperformed the headline indices. Nifty Midcap was down by 2.69 per cent while Nifty Smallcap slipped close to 1 per cent. So, this relative outperformance by the broader market indicates that the stock-specific action would continue in the month of December as well.   

Hence, we have chalked down a list of stocks, which have seen the previous day’s high breakout. Usually, the stocks trading above their previous day’s high are the ones that should be kept on the watchlist for intraday and swing trades.   

There are as many as 39 stocks from Nifty 500 index that are trading above their previous day’s high.   

So, here is the list of stocks: