Price Volume breakout stocks: These stocks likely to be in focus tomorrow!

Price Volume breakout stocks: These stocks likely to be in focus tomorrow!

Prajwal Wakhare

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.

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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.

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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.

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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

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