A solid positive breakout is seen in these stocks; do you hold them?
The Sensex has broken a three-day winning streak, ending 169 points lower; the Nifty is below 21,450; IRCTC is up 12 per cent, and Union Bank is up 4 per cent.
Indian stock markets closed in the red on Monday, with benchmark indices Sensex and Nifty closing lower by 0.24 per cent and 0.18 per cent respectively. The broader indices like the Small-Cap index gained 0.28 per cent whereas Mid-Cap saw a surge of 0.48 per cent. The overall market sentiment remained mixed, with advancing stocks almost outburning declining ones.
HFCL Ltd displayed a positive performance in the recent trading sessions, with the stock opening at Rs 74 and reaching a high of Rs 81. The closing price settled at Rs 78.6, showing a notable gain from the previous close of Rs 74. This translates to a 6.07 per cent increase, signaling investor confidence in the company's prospects. The market capitalization for HFCL Ltd stands at Rs 11,161.80 crore, further emphasizing its solid position in the market.
Subex Ltd also demonstrated strong performance, starting at Rs 34.7 and reaching a high of Rs 38.65. The closing price of Rs 37.95 reflects an 8.74 per cent surge from the previous close of Rs 34.9. With a market cap of Rs 2099.47 crore, Subex Ltd's positive momentum suggests a favorable outlook, possibly driven by positive developments or increased demand for its offerings.
Indian Railway Catering and Tourism Corp Ltd showcased remarkable growth, opening at Rs 784.85 and reaching an impressive high of Rs 889.35. The closing price settled at Rs 874.05, representing a substantial 11.94 per cent increase from the previous close of Rs 780.85. The company's substantial market cap of Rs 70318.98 crore underscores its significance in the market and suggests that investors are optimistic about its performance in the railway and tourism sectors.
Price volume breakout is a potential trading opportunity that occurs in trending markets, up or down. In sideways markets, these opportunities are minimized. A breakout happens when the stock price moves above the crucial resistance level or below the sacrosanct support level with increasing volume. The most important aspect is to focus on increasing volume when the important support and resistance levels are broken.
The following is a list of stocks with a strong positive breakout:
|
Sr.
|
Stock Name
|
Per cent Change
|
Price
|
Volume
|
|
1
|
Himachal Futuristic Communications Limited
|
5.4
|
78.1
|
12,61,27,592
|
|
2
|
Subex Ltd
|
8.6
|
37.9
|
4,51,54,798
|
|
3
|
Indian Railway Catering & Tourism Corporation Ltd
|
12.59
|
879.15
|
3,64,88,577
|
|
4
|
Geojit Financial Services
|
12.74
|
80.1
|
3,27,43,375
|
|
5
|
Tata Teleservices (maharashtra) Limited
|
7.02
|
97.55
|
3,09,50,628
|
|
6
|
Hindustan Copper Limited
|
5.15
|
197.05
|
2,41,37,375
|
|
7
|
Pc Jeweller Limited
|
9.69
|
35.65
|
1,96,71,500
|
|
8
|
Kellton Tech Solutions Limited
|
10.22
|
103
|
1,66,43,557
|
|
9
|
Salasar Techno Engineering Ltd
|
11.11
|
57.5
|
1,53,56,426
|
|
10
|
Jk Tyre & Industries Limited
|
10.7
|
389.65
|
1,28,24,574
|
|
11
|
Dwarikesh Sugar Industries Limited
|
5.24
|
90.4
|
84,90,281
|
|
12
|
Sindhu Trade Links Ltd
|
9.62
|
33.05
|
83,92,457
|
|
13
|
Rajesh Exports Limited
|
6.1
|
388.45
|
80,94,931
|
|
14
|
Zydus Lifesciences Ltd
|
5.37
|
680.6
|
79,44,757
|
|
15
|
JTL Industries Ltd
|
5.68
|
240.75
|
73,60,881
|
|
16
|
TRACXN
|
5.58
|
113.6
|
73,44,080
|
|
17
|
Reliance Industrial Infrastructure Limited
|
12.47
|
1328.75
|
56,25,506
|
|
18
|
Bharat Dynamics Ltd
|
9.88
|
1529.25
|
54,38,510
|
|
19
|
Aarvee Denims & Exports Limited
|
19.84
|
30.5
|
49,43,573
|
|
20
|
Sarla Performance Fibers Limited
|
15.6
|
56.7
|
46,04,074
|
Disclaimer: The article is for informational purposes only and not investment advice.
DSIJ offers a service 'PAS' which provides stock recommendations that have the potential to generate excellent returns on your portfolio. If this interests you, then do download the service details pdf here