Price Volume breakout stocks: These stocks likely to be in focus tomorrow!
Top 3 price-volume breakout stocks
Frontline indexes had a good finish to the day on Friday, with Sensex closing up 0.61 per cent at 72,085.64 level and Nifty rising by 0.72 per cent to close at 21,853.80. In a similar vein, the Broader market saw modest gains as Nifty Small-Cap surged by 0.93 per cent and Nifty Mid-Cap finished marginally higher by 0.37 per cent.
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The India VIX, which measures market volatility, has increased by 1.68 per cent, which is a minor rise in market volatility.
Top 3 price-volume breakout stocks
NHPC Ltd displayed a bullish trend with a 10.61 per cent surge in the current market price (CMP) to Rs 101.1, surpassing the previous close of Rs 91.4. The stock witnessed a significant price volume breakout, reaching an all-time high of Rs 103, and sustained higher highs. Notably, the Relative Strength Index (RSI) stands at 84.61, indicating an overbought scenario. The robust bullish momentum is further evident in the volume spike. Traders should carefully monitor for potential corrections or profit-taking, considering the heightened RSI.
Steel Authority of India Ltd saw a noteworthy 7.33 per cent increase in the CMP to Rs128.05, breaching the previous close of Rs119.3. The stock exhibited a promising price volume breakout, achieving a 52-week high at Rs129.65, and demonstrated strong buyer interest with sustained higher highs. The RSI at 66.08 and overall strong momentum suggest favorable trading conditions. Traders should keep an eye on the stock for potential continuation of the upward trend, considering the positive technical indicators and breakout patterns.
Indian Overseas Bank experienced a 7.88 per cent rise in CMP to Rs 56.15, surpassing the previous close of Rs 52.05. The stock demonstrated a significant price volume breakout, rebounding from the 50-day Exponential Moving Average (EMA) before the breakout, and breaking its 52-week high. However, caution is advised as the RSI is at 82.25, signaling an overbought condition. Rising volumes further support the bullish sentiment, but traders should exercise vigilance for potential reversals or corrections in the near term.
The following is a list of stocks with a strong positive breakout:
|
Sr.
|
Stock Name
|
Price
|
Volume
|
|
1
|
Nhpc Limited
|
100.65
|
50,29,23,653
|
|
2
|
Steel Authority Of India Limited
|
128.3
|
11,55,57,246
|
|
3
|
Indian Overseas Bank
|
56.15
|
15,76,90,905
|
|
4
|
Nbcc (india) Limited
|
168.65
|
23,87,81,893
|
|
5
|
Punjab National Bank
|
125.4
|
16,75,66,465
|
|
6
|
Sjvn Limited
|
142.25
|
15,08,20,832
|
|
7
|
Gmr Infrastructure Limited
|
85.2
|
12,45,63,723
|
|
8
|
Indian Oil Corporation Limited
|
162.9
|
9,46,75,914
|
|
9
|
Easy Trip Planners Ltd
|
49.3
|
8,92,75,417
|
|
10
|
Engineers India Limited
|
261.35
|
5,73,82,859
|
Disclaimer: The article is for informational purposes only and not investment advice.