Price Volume breakout stocks: These stocks likely to be in focus on Monday!
Top 3 price-volume breakout stocks
Benchmark indices finished Thursday's trading session slightly higher. The Sensex completed the day at a new all-time high of 74,245.17, up 0.05 per cent, while the Nifty gained 0.09 per cent to reach a new record high of 22,525.65. Nifty Mid-Cap finished marginally higher by 0.22 per cent, while Nifty Small-Cap closed considerably higher by 0.85 per cent, indicating that the Broader market also saw strong gains.
DSIJ offers a service 'Technical Advisory Services' with recommendations for best swing trading stocks based on research and analysis to help subscribers make healthy profits. If this interests you, then do download the service details pdf here
The India VIX, which measures market volatility, has decreased by 4.41 per cent, indicating a decline in market volatility.
Top 3 price-volume breakout stocks
Infibeam Avenues Ltd: The stock of Infibeam Avenues Ltd had a good day, with its price rising to Rs 40.35, which is a 6.32 per cent increase from the previous close of Rs 37.95. This surge was supported by both a price volume breakout and a symmetrical triangle breakout, indicating strong upward momentum. However, investors should be cautious as the Relative Strength Index (RSI) is quite high at 81.81, suggesting the stock might be overbought. Despite the strong gains, it's important to note that there might be resistance ahead, particularly at the 52-week high of Rs 41.4. Investors could consider entering the stock if it breaks out above Rs 40.00, with a stop loss at Rs 33.00, but they should keep an eye on potential resistance levels.
Tata Power Company Ltd: Tata Power Company Ltd saw a significant increase in its stock price, reaching Rs 428.45, up by 8.48 per cent from the previous close of Rs 394.95. This surge was accompanied by a price volume breakout and a volume spike, indicating strong bullish sentiment. The stock also bounced from a support level and its 20-day and 50-day Exponential Moving Averages (EMAs), further confirming the upward momentum. However, investors should note that the RSI is relatively high at 74.73, suggesting the stock may be overbought. Despite this, the stock's prior gains of 48.72 per cent indicate strong momentum, with a breakout above the 52-week high.
Tata Chemicals Ltd: Tata Chemicals Ltd had a robust trading day, with its stock price reaching Rs 1311.6, up by 11.30 per cent from the previous close of Rs 1178.45. This surge was driven by a strong price volume breakout, indicating bullish momentum. However, investors should be cautious as the stock's RSI is quite high at 86.20, suggesting potential overbought conditions. Additionally, there was a notable volume spike, further confirming the bullish sentiment. The stock found support at Rs 93, showing strong underlying demand. Investors should closely monitor the stock for potential resistance levels as it approaches its 52-week high.
The following is a list of stocks with a strong positive breakout:
|
Sr.
|
Stock Name
|
Price
|
Volume
|
|
1
|
Infibeam Incorporation Limited
|
40.15
|
18,48,92,304
|
|
2
|
Tata Power Company Limited
|
425.25
|
9,88,83,541
|
|
3
|
Tata Chemicals Limited
|
1315.25
|
4,78,22,207
|
|
4
|
Rallis India Limited
|
287.8
|
3,60,94,418
|
|
5
|
Tata Teleservices (maharashtra) Limited
|
89.95
|
2,02,82,586
|
|
6
|
Iifl Holdings Limited
|
420.25
|
1,63,35,582
|
|
7
|
Rico Auto Industries Limited
|
138.75
|
1,13,76,282
|
|
8
|
Graphite India Limited
|
638.7
|
50,02,003
|
|
9
|
Cholamandalam Investment And Finance Company Limited
|
1083.25
|
47,04,679
|
|
10
|
Den Networks Limited
|
55.5
|
46,75,003
|
Disclaimer: The article is for informational purposes only and not investment advice.