Price Volume breakout stocks: These stocks likely to be in focus tomorrow!
Top 3 price-volume breakout stocks
Frontline indexes had a mixed finish to the trading day on Wednesday, with the Sensex closing at a level somewhat lower than the previous day, at 72,152, and the Nifty closing at a level slightly higher than the previous day, at 21,930.50. In a similar vein, the Broader market performed well, with Nifty Mid-Cap closing significantly higher by 0.75 per cent and Nifty Small-Cap rising by 0.71 per cent.
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The India VIX, which measures market volatility, has decreased by 1.74 per cent, indicating a marginal fall in market volatility.
Top 3 price-volume breakout stocks
Delta Corp Ltd: Delta Corp's stock saw a significant surge today, breaking out of its previous resistance levels. It bounced back strongly from its recent lows, supported by a notable increase in trading volume. The stock's current price of Rs 151 marks a considerable jump from its previous close of Rs 136.65, representing a 10.50 per cent increase. The Relative Strength Index (RSI) sits comfortably at 61.16, indicating a healthy momentum without being overbought. With rising volumes on up days and lower volumes on down days, the bullish sentiment seems well supported.
ESAF Small Finance Bank Limited: ESAF Small Finance Bank shares soared to new heights today, breaking through all-time highs with conviction. The stock's price surged to Rs 78.5, showing a remarkable 11.43 per cent increase from its previous close of Rs 70.45. Despite this rapid ascent, the RSI remains at a healthy 77.18, suggesting room for further upside without being overbought. Strong buying interest, coupled with rising volumes on up days, indicates a robust uptrend that could continue if the current momentum persists.
Canara Bank Ltd: Canara Bank witnessed a bullish breakout today, propelled by a significant surge in trading volume. The stock's price surged to Rs 558.9, marking a notable 7.18 per cent increase from its previous close of Rs 521.45. Trading at its 52-week high, Canara Bank's breakout from the broadening descending triangle pattern is a bullish sign. Despite a relatively high RSI of 82.45, indicating overbought conditions, the rising volumes on up days and the bounce from the 10-week EMA reinforce the strong bullish momentum.
The following is a list of stocks with a strong positive breakout:
|
Sr.
|
Stock Name
|
Price
|
Volume
|
|
1
|
Delta Corp Limited
|
151.6
|
3,44,71,026
|
|
2
|
ESAF Small Finance Bank Ltd
|
78.65
|
2,44,20,722
|
|
3
|
Canara Bank
|
552.15
|
1,87,28,266
|
|
4
|
Sindhu Trade Links Ltd
|
31.05
|
1,85,47,303
|
|
5
|
Dhani Services Ltd
|
43.95
|
1,56,68,108
|
|
6
|
Indian Overseas Bank
|
79.65
|
37,95,32,861
|
|
7
|
Uco Bank
|
68.4
|
21,09,07,322
|
|
8
|
Bank Of Maharashtra
|
66.9
|
16,00,93,709
|
|
9
|
Central Bank Of India
|
74.15
|
15,46,12,545
|
|
10
|
Bajaj Hindusthan Sugar Limited
|
37.45
|
8,49,83,090
|
Disclaimer: The article is for informational purposes only and not investment advice.