Price Volume breakout stocks: These stocks likely to be in focus tomorrow!
Top 3 price-volume breakout stocks
On Wednesday, frontline indexes ended the day on a bullish note, with the Sensex closing 0.98 per cent higher at 71,060.31, and the Nifty rising 1.01 per cent to 21,453.95. This trend persisted in the Broader market, as Nifty Mid-Cap finished much higher, up 1.83 per cent, while Nifty Small-Cap jumped 1.72 per cent.
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Market volatility, as measured by the India VIX, has fallen by 3.21 per cent, indicating a drop in market volatility
Top 3 price-volume breakout stocks
South Indian Bank Ltd experienced a notable bullish trend today, with the stock opening at Rs 31 and reaching a high of Rs 35.3, demonstrating a substantial price volume breakout. Moreover, the stock surpassed its 52-week high, breaking out of an ascending triangle pattern, and closed at Rs 34.85, reflecting a strong upward momentum. The Relative Strength Index (RSI) surged to 81.91, entering the overbought region, indicating robust buying interest. The stock exhibited a remarkable bounce from the 50-day Exponential Moving Average (EMA), further supporting the bullish sentiment. Additionally, the day candle formed a super-strong bullish pattern, affirming the positive outlook.
HFCL Ltd witnessed a remarkable trading session, opening at Rs 94.25 and reaching an all-time high of Rs 107.2, signifying a significant price volume breakout and higher high breakouts. The stock displayed strength with an RSI of 71.68, indicating positive momentum. Multiple bounce-backs from prior breakout levels acted as strong support, contributing to the stock's resilience. The day's candle, coupled with a volume spike and a bounce from the 20-day EMA, reinforced the bullish sentiment. The close at Rs 106.25 marked a substantial increase from the previous close of Rs 93.65.
IDBI Bank Ltd displayed a bullish trend, opening at Rs 76.8 and achieving a 52-week high of Rs 87, signaling a notable price volume breakout. The stock exhibited long candles with high volatility, suggesting strong buying interest. The RSI at 76.85 further confirmed the positive momentum, while a volume spike and a strong bullish candle supported the uptrend. The close at Rs 84.25 reflected a considerable gain from the previous close of Rs 76.4, reinforcing the bullish outlook for the stock.
The following is a list of stocks with a strong positive breakout:
|
Sr.
|
Stock Name
|
Price
|
Volume
|
|
1
|
The South Indian Bank Limited
|
34.75
|
21,02,89,648
|
|
2
|
Himachal Futuristic Communications Limited
|
105.65
|
14,25,18,213
|
|
3
|
Idbi Bank Limited
|
84.2
|
12,37,95,699
|
|
4
|
Hindustan Construction Company Limited
|
35.6
|
10,39,82,555
|
|
5
|
Mahanagar Telephone Nigam Limited
|
41.75
|
6,34,83,380
|
|
6
|
Sjvn Limited
|
113.15
|
6,15,39,848
|
|
7
|
Trident Limited
|
45.85
|
5,74,01,057
|
|
8
|
Indian Overseas Bank
|
46.05
|
5,01,23,032
|
|
9
|
Alok Industries Ltd
|
33
|
4,97,94,980
|
|
10
|
Housing and Urban Development Corporation
|
165.75
|
4,69,68,738
|