Price Volume breakout stocks: These stocks likely to be in focus Tomorrow!
On Thursday, Benchmark indices concluded the trading day on a positive note as Sensex substantially gained by 0.66 per cent and closed at 74,339.44 level, while Nifty also significantly gained by 0.75 per cent and closed at 22,570.35 level. Similarly, the Broader market experienced moderate gains as Nifty Mid-Cap closed higher by 0.4 per cent, while Nifty Small-Cap gained by 0.8 per cent.
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Market volatility, as indicated by India VIX, has gained by 4.43 per cent, reflecting an increase in market volatility.
Top 3 price-volume breakout stocks
Axis Bank Ltd: Today, Axis Bank Ltd saw a significant trading volume of 46,136,295 shares, indicating a strong interest from investors. The stock is currently trading at Rs 1,127.45, which is close to its high for the day at Rs 1,133.95. This represents a substantial increase from the previous close of Rs 1,063.25, with the stock price up by 6.04 per cent. The stock has shown a price volume breakout and resistance breakout, which are bullish signals. Moreover, the Relative Strength Index (RSI) is at 66.42, suggesting that the stock still has room before becoming overbought. Investors seem optimistic as the stock price is heading towards its 52-week high of Rs 1,151.85, supported by a volume spike and a pullback from support levels.
Indian Overseas Bank: Indian Overseas Bank experienced significant trading activity today, with a total volume of 41,297,357 shares. It's currently trading at Rs 66.7 after opening at a higher point of Rs 67.45. The stock is up 5.45 per cent from its previous close at Rs 63.25. Today's movement included a price volume breakout and a bounce from the 50-day Exponential Moving Average (EMA), which are positive signs for future momentum. The stock’s RSI stands at 60.16, indicating a healthy momentum without being overbought. The overall trend appears strong as the stock is approaching its 52-week high of Rs 83.75, and the recent trading pattern suggests it may soon break past this resistance.
State Bank of India: State Bank of India reached a new 52-week high today, with a peak price of Rs 814.4 and is currently trading close to that level at Rs 812. The trading volume was also robust, recording 36,732,974 shares exchanged. This marks a significant move from the previous day’s close at Rs 773.1, showing an increase of 5.03 per cent. The stock has demonstrated a price volume breakout along with today’s 52-week high breakout, indicating a very bullish signal. With an RSI of 69.16, the stock is on the edge of the overbought zone, suggesting strong buyer interest. These factors are aligning to potentially usher in a bullish phase for the stock, as today's volume and price action hint at sustained upward momentum.
The following is a list of stocks with a strong positive breakout:
|
Sr.
|
Stock Name
|
Price
|
Volume
|
|
1
|
Axis Bank Limited
|
1127
|
4,61,36,295
|
|
2
|
Indian Overseas Bank
|
66.9
|
4,12,99,506
|
|
3
|
State Bank Of India
|
812.7
|
3,67,32,974
|
|
4
|
Aditya Birla Capital Ltd
|
229.8
|
2,78,20,333
|
|
5
|
Jupiter Wagons Ltd
|
419.55
|
1,51,69,959
|
|
6
|
Shipping Corporation Of India Limited
|
232.85
|
1,07,92,266
|
|
7
|
Shipping Corporation of India Land & Assets Ltd
|
72.2
|
95,53,450
|
|
8
|
Firstsource Solutions Limited
|
215.65
|
90,58,887
|
|
9
|
Inox Wind Limited
|
645.5
|
68,39,970
|
|
10
|
Mazagon Dock Shipbuilders Ltd
|
2455.85
|
68,25,731
|
Disclaimer: The article is for informational purposes only and not investment advice.