Price Volume breakout stocks: These stocks likely to be in focus tomorrow!
Top 3 price-volume breakout stocks
Benchmark indexes finished the trading day on a positive note on Wednesday. The Sensex closed 0.55 per cent higher after reaching a new all-time high of 74,151.28, and the Nifty also surged by 0.53 per cent to reach a new record high of 22,497.20. Nifty Mid-Cap finished marginally down by 0.52 per cent, while Nifty Small-Cap closed considerably lower by 1.96 per cent, indicating underperformance in the Broader market.
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The India VIX, which measures market volatility, has decreased by 0.59 per cent, indicating a marginal reduction in market volatility.
Top 3 price-volume breakout stocks
Tata Chemicals Ltd: Tata Chemicals Ltd had a strong move today, nearing its 52-week breakout point. However, it's likely to face resistance as it approaches its high point. There was a significant price volume breakout, indicating bullish momentum. The Relative Strength Index (RSI) is quite high at 79.77, suggesting the stock might be overbought. Additionally, there was a notable volume spike, further confirming the bullish sentiment. The stock took support at Rs 93, showing strong underlying demand. Investors should watch out for potential resistance levels and monitor the stock closely.
20 Microns Ltd: 20 Microns Ltd experienced a price volume breakout today, accompanied by a notable volume spike. However, the stock is facing selling pressure as it approaches its 52-week high. The RSI is at 52.91, indicating moderate momentum. Despite the breakout, investors should be cautious of potential resistance levels and monitor the stock's performance closely.
Sadhana Nitro Chem Ltd: Sadhana Nitro Chem Ltd saw a price volume breakout today, with a significant volume spike. The stock bounced back from its 52-week low, indicating strong support at that level. However, it's likely to face resistance at Rs 84 and Rs 95. The RSI is at 44.61, suggesting a neutral stance. The stock has been declining since listing but formed a peak and failed to sustain at current levels. Investors should consider the bounce back level at Rs 68 and monitor the stock's performance closely.
The following is a list of stocks with a strong positive breakout:
|
Sr.
|
Stock Name
|
Price
|
Volume
|
|
1
|
Tata Chemicals Limited
|
1178.45
|
1,89,67,589
|
|
2
|
20 Microns Limited
|
154.4
|
30,78,390
|
|
3
|
Servotech Power Systems Ltd
|
90.3
|
22,96,497
|
|
4
|
Dollar Industries
|
525.55
|
14,42,407
|
|
5
|
Sadhana Nitro Chem Ltd
|
76.7
|
12,22,962
|
Disclaimer: The article is for informational purposes only and not investment advice.