Price Volume breakout stocks: These stocks likely to be in focus tomorrow!
Top 3 price-volume breakout stocks
On Tuesday, both indexes ended the day on a bullish note, with the Sensex closing higher by 0.63 per cent at 72,186.10 and the Nifty up 0.72 per cent at 21,929.40. Similarly, the broader market performed well, with Nifty Mid-Cap closing 1.22 per cent higher and Nifty Small-Cap up 0.81 per cent.
DSIJ offers a service 'Technical Advisory Services' with recommendations for best swing trading stocks based on research and analysis to help subscribers make healthy profits. If this interests you, then do download the service details pdf here
Market volatility, as measured by India VIX, has increased by 1.17 per cent, indicating a minor rise in market volatility.
Top 3 price-volume breakout stocks
Indian Overseas Bank: The stock of Indian Overseas Bank has experienced a significant surge, reaching its all-time high. This breakout is supported by a strong increase in trading volume, indicating robust bullish momentum. However, caution is advised as the Relative Strength Index (RSI) is at an extreme overbought level of 89.89, suggesting a potential reversal. Investors should monitor the price closely for any signs of consolidation or reversal, considering the current high level of volatility. Today, the stock opened at Rs 64.85, reached a high of Rs 69.8, a low of Rs 62.3, and closed at Rs 67.8, marking a notable 8.22 per cent increase from the previous close.
Subex Ltd: Subex Ltd has experienced a remarkable price volume breakout, reaching Rs 44.75 from the previous close of Rs 41.45. This breakout is accompanied by a 52-week high breach, highlighting strong buyer interest in the stock. Despite the RSI standing at 69.34, indicating no overbought conditions, Subex exhibits strong momentum, supported by rising volumes. The stock has notable support and resistance levels at Rs 25, Rs 28, Rs 39, and Rs 48, showcasing a robust trading environment.
Indiabulls Real Estate Ltd: Indiabulls Real Estate Ltd has broken out above its previous 52-week high, indicating a bullish trend reversal. This breakout is supported by a bounce from the 10-week exponential moving average (EMA) and rising volumes on up days, indicating strong buying interest. The RSI at 71.90 suggests the stock is gaining momentum without being excessively overbought. Investors should monitor for sustained price movement above the breakout level for confirmation of the uptrend. Today, the stock opened at Rs 103.5, reached a high of Rs 115.7, a low of Rs 103.4, and closed at Rs 115, marking a substantial 11.54 per cent increase from the previous close.
The following is a list of stocks with a strong positive breakout:
|
Sr.
|
Stock Name
|
Price
|
Volume
|
|
1
|
Indian Overseas Bank
|
67.55
|
25,84,21,884
|
|
2
|
Subex Ltd
|
44.8
|
9,08,41,762
|
|
3
|
Indiabulls Real Estate Limited
|
114.15
|
6,79,59,146
|
|
4
|
Himachal Futuristic Communications Limited
|
103.5
|
4,97,73,379
|
|
5
|
Jamna Auto Industries Limited
|
131.65
|
3,62,16,969
|
|
6
|
Petronet Lng Limited
|
290.4
|
3,17,44,882
|
|
7
|
Patel Engineering Limited
|
76.35
|
3,06,21,042
|
|
8
|
Mmtc Limited
|
98.7
|
2,49,02,002
|
|
9
|
Bharat Petroleum Corporation Limited
|
609.3
|
2,26,30,328
|
|
10
|
Hindustan Petroleum Corporation Limited
|
535.8
|
1,92,35,513
|
Disclaimer: The article is for informational purposes only and not investment advice.