Price Volume breakout stocks: These stocks likely to be in focus Tomorrow!

Top 3 price-volume breakout stocks

On Friday, Benchmark indices concluded the last trading day of the week on a negative note as Sensex substantially declined by 0.98 per cent and closed at 73,878.15 level, while Nifty also plunged by 0.76 per cent and closed at 22,475.85 level. Similarly, the Broader market experienced moderate losses as Nifty Mid-Cap closed lower by 0.35 per cent, whereas Nifty Small-Cap plummeted by 0.49 per cent.

As indicated by India VIX, market volatility has surged by 9.72 per cent, reflecting an increase in market volatility.

Top 3 price-volume breakout stocks

Piramal Pharma Ltd: Piramal Pharma Ltd showed a promising uptick in its stock price, reaching a new 52-week high of Rs 153.9, and is currently trading at Rs 151, up by 5.34 per cent from the previous close of Rs 143.35. The traded volume spiked to 26,696,667 shares, indicating strong investor interest, potentially due to the anticipation of its upcoming Quarterly Results on May 10, 2024. This surge in price and volume, alongside a high RSI of 70.54, suggests a bullish trend could be forming. The stock has delivered exceptional returns over the past year, achieving a multibagger return of 116.47 per cent. The market cap stands robust at Rs 19,976.52 crore.

Gujarat Mineral Development Corporation Ltd: Gujarat Mineral Development Corporation Ltd has shown significant activity, with its share price rising to Rs 448.9, which is a 6.72 per cent increase from the previous close of Rs 420.65. The stock reached a high of Rs 452.95 and traded 11,637,133 shares today. This reflects a strong market interest, possibly driven by its proximity to releasing quarterly results on May 9, 2024. The stock is also trading above its 50-day EMA and bounced from the 200-day EMA, with a high RSI of 68.83, hinting at a strong bullish momentum. Over the last year, the stock has soared, offering investors a multibagger return of 189.08 per cent, and it holds a market cap of Rs 14,260.28 crore.

Hindustan Zinc Ltd: Hindustan Zinc Ltd's stock price increased significantly today, currently trading at Rs 473.2, which represents a 9.51 per cent gain from its previous close of Rs 432.1. The stock achieved a new 52-week high at Rs 478.4 and saw a traded volume of 10,396,501 shares, indicating heightened investor engagement. This move accompanies a strong RSI of 82.97, suggesting the stock is currently overbought but still in a strong upward trend after a narrow range breakout. The company has also declared an interim dividend, although the amount is yet to be disclosed, which might further influence investor sentiment. Over the past 6 months, Hindustan Zinc has provided a stellar return of 58.82 per cent, and it boasts a significant market cap of Rs 199,291.60 crore.

The following is a list of stocks with a strong positive breakout:

Disclaimer: The article is for informational purposes only and not investment advice.

2 comments on article "Price Volume breakout stocks: These stocks likely to be in focus Tomorrow!"

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5/6/2024 6:39 AM

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