Price Volume breakout stocks: These stocks likely to be in focus Tomorrow!
Top 3 price-volume breakout stocks
On Wednesday, Benchmark indices concluded the trading day on a positive note as Sensex marginally gained by 0.16 per cent and closed at 73,852.94 level, while Nifty also marginally gained by 0.15 per cent and closed at 22,402.40 level. Similarly, the Broader market experienced outperformance as the Nifty Mid-Cap closed substantially higher by 0.76 per cent, while the Nifty Small-Cap gained by 0.36 per cent.
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Market volatility, as indicated by India VIX, has marginally gained by 1.5 per cent, reflecting an increase in market volatility.
Top 3 price-volume breakout stocks
NMDC Ltd: NMDC Ltd is witnessing a notable bullish movement today, with the stock price reaching a high of Rs 249.15 before stabilizing at Rs 247.75, reflecting a significant rise from the previous close of Rs 234.65. This represents a price increase of 5.58 per cent. The stock is currently trading well above its 50-day EMA, supported by a volume spike of over 32 million shares, indicating a strong buying interest. With the Relative Strength Index (RSI) at 67.35, NMDC is showing momentum and is positioned just below its 52-week high of Rs 252.4, suggesting a potential for breaking this peak soon. The overall market sentiment around NMDC is positive, as it nears a 52-week high breakout.
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Steel Authority of India Ltd: Today, SAIL shares surged to a new 52-week high of Rs 165.95, with the stock currently trading at Rs 163.45 after a strong open, up 7.36 per cent from yesterday's close of Rs 152.25. This move was accompanied by an impressive traded volume of about 176 million shares, highlighting intense investor interest. The stock's RSI, at 72.57, indicates overbought conditions which might attract profit booking but also underscores the strong momentum of the day. The day's performance is characterized by a volume-backed price surge, positioning SAIL for potentially more gains as it has just broken out from its 52-week high, followed by a quick pullback.
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Mangalore Refinery and Petrochemicals Ltd: MRPL is exhibiting strong trading dynamics today, with its share price climbing to Rs 247.85, up 10.38 per cent from the prior close of Rs 224.55 after touching a day's high of Rs 253.7. The stock moved on a significant trade volume of nearly 40 million shares, signaling robust market participation. Currently, MRPL is showing a promising chart pattern with a resistance breakout and forming a Volatility Contraction Pattern (VCP) base, paired with an RSI of 64.98. These technical indicators suggest continued bullish momentum, with the stock performing well beyond general market expectations and aiming for its annual high of Rs 289.25.
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The following is a list of stocks with a strong positive breakout:
|
Sr.
|
Stock Name
|
Price
|
Volume
|
|
1
|
Steel Authority Of India Limited
|
164.65
|
17,64,71,110
|
|
2
|
Mangalore Refinery And Petrochemicals Limited
|
248.7
|
3,98,49,649
|
|
3
|
Nmdc Limited
|
248.1
|
3,21,68,850
|
|
4
|
Ircon International Ltd
|
241.45
|
3,02,71,458
|
|
5
|
Dcb Bank Limited
|
136.05
|
1,77,86,700
|
|
6
|
Chennai Petroleum Corporation Limited
|
1075
|
1,62,65,655
|
|
7
|
Chambal Fertilizers & Chemicals Limited
|
402.2
|
1,49,89,439
|
|
8
|
Aegis Logistics Limited
|
604.5
|
1,31,72,710
|
|
9
|
Geojit Financial Services
|
94.65
|
1,22,88,727
|
|
10
|
Rashtriya Chemicals And Fertilizers Limited
|
152
|
1,14,81,963
|
Disclaimer: The article is for informational purposes only and not investment advice.