Price Volume breakout stocks: These stocks likely to be in focus Tomorrow!
Top 3 price-volume breakout stocks
On Tuesday, Benchmark indices concluded the trading day on a negative note as Sensex marginally declined by 0.15 per cent closing at 73,903.91 level, while Nifty also declined by 0.04 per cent and closed at 22,453.30 level. Similarly, the Broader market experienced significant gains as Nifty Mid-Cap closed substantially higher by 1.16 per cent, while the Nifty Small-Cap soared by 1.22 per cent.
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Market volatility, as indicated by India VIX, has declined by 3.56 per cent, reflecting a decrease in market volatility.
Top 3 price-volume breakout stocks
Steel Authority of India Ltd witnessed a surge in trading volume, hitting 109,998,430 shares, alongside a notable price increase to Rs 150.65. This upswing marks a 5.01 per cent rise from the previous close, reaching Rs 147.80. The stock is currently near its 52-week high of Rs 150.65, bouncing off a support level of Rs 116. Moreover, SAIL is showing signs of consolidation, trading within a range, with a Relative Strength Index (RSI) of 68.74, hovering near the upper range of Rs 148. These metrics suggest bullish momentum, with potential for further upside.
Aditya Birla Fashion and Retail Ltd experienced significant activity, with a traded volume of 91,062,159 shares and a price surge to Rs 247.50. This surge represents an 11.98 per cent increase from the previous close, reaching Rs 237. ABFRL's RSI stands at 64.56, indicating bullish momentum, reinforced by a breakout above prior trendlines and into a rising channel. This upward movement is driven by recent news, leading to a 15 per cent intraday gain, the largest since August 2018. These factors suggest continued bullish sentiment and potential for further gains.
SJVN Ltd saw heightened trading activity, with a volume of 68,386,748 shares and a price rise to Rs 134.65, reflecting a 5.66 per cent increase from the previous close at Rs 132.50. The stock is currently trading above its 20-day and 50-day Exponential Moving Averages (EMAs), with an RSI of 60.81, signaling bullish momentum. Additionally, SJVN has broken out of a squeezed range, indicating potential for further upward movement. These technical indicators suggest a positive outlook for SJVN, with room for continued price appreciation.
The following is a list of stocks with a strong positive breakout:
|
Sr.
|
Stock Name
|
Price
|
Volume
|
|
1
|
Steel Authority Of India Ltd
|
147.85
|
10,99,98,430
|
|
2
|
Aditya Birla Fashion And Retail Ltd
|
236.15
|
9,10,62,232
|
|
3
|
Sjvn Ltd
|
132.5
|
6,83,86,748
|
|
4
|
Aditya Birla Capital Ltd
|
201.05
|
5,54,94,045
|
|
5
|
Indiabulls Real Estate Ltd
|
126.7
|
3,42,15,012
|
|
6
|
Ncc Ltd
|
261.75
|
1,84,30,602
|
|
7
|
Redington (india) Ltd
|
222.15
|
1,39,22,768
|
|
8
|
Dhani Services Ltd
|
42.75
|
1,15,57,680
|
|
9
|
Sadbhav Engineering Ltd
|
34.2
|
87,18,407
|
|
10
|
Reliance Infrastructure Ltd
|
289.8
|
78,55,786
|
Disclaimer: The article is for informational purposes only and not investment advice.