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

Top 3 price-volume breakout stocks

On Thursday, Benchmark indices concluded trading day on a positive note as Sensex significantly gained by 0.93 per cent and closed at 75,074.51 level, while Nifty gained by 0.89 per cent and closed at 22,821.40 level. Similarly, the Broader market also experienced significant gains as Nifty Mid-Cap closed higher by 2.24 per cent, while Nifty Small-Cap soared by 3.29 per cent.

Market volatility, as indicated by India VIX, has declined by 12.15 per cent and is trading around the level of 16 reflecting significant decrease in market volatility.

Top 3 price-volume breakout stocks

Bharat Heavy Electricals Ltd: Bharat Heavy Electricals Ltd witnessed significant activity today with a high of Rs 292.35 and a substantial traded volume of 111,330,080 shares. The stock is currently trading at Rs 278.5, up from the previous close of Rs 255.35, marking a 9.07 per cent increase. BHEL’s market cap stands at Rs 97,010.99 crore. It has achieved multibagger returns of 238.81 per cent from its 52-week low, reaching close to its 52-week high of Rs 322.5. The RSI is at 47.88, indicating a balanced momentum. Notably, BHEL has experienced a price volume breakout, a volume spike, and is bouncing back from support levels. Furthermore, the company announced a significant technology transfer agreement with Bhabha Atomic Research Centre for a 50 kW alkaline electrolyser system, which could further bolster its prospects.

KNR Constructions Ltd: KNR Constructions Ltd reached a high of Rs 407 today, with a traded volume of 24,003,265 shares. The stock is currently trading at Rs 383.8, significantly up from the previous close of Rs 339.25, showing a robust 13.13 per cent increase. With a market cap of Rs 10,650.08 crore, KNR Constructions has delivered strong returns of 69.60 per cent from its 52-week low. The stock has achieved an all-time high breakout with the RSI at 79.23, indicating overbought conditions. The company announced financial results for the fiscal year ending March 31, 2024, which likely contributed to the price volume breakout and volume spike observed today.

NCC Ltd: NCC Ltd saw its stock hit a high of Rs 319.75 with a traded volume of 23,456,443 shares. Currently, it is trading at Rs 312, up from the previous close of Rs 289.75, representing a 7.68 per cent increase. The company’s market cap is Rs 19,590.26 crore. NCC Ltd has posted multibagger returns of 165.76 per cent from its 52-week low, reaching its 52-week high of Rs 319.75 again. The RSI is at 62.75, reflecting strong momentum. The stock experienced a price volume breakout and a volume spike, touching its 52-week high once more. Additionally, the resignation of Mr. Arindam Das Purkayastha, Vice President (Digitalisation & IT), effective May 31, 2024, was announced, which may have influenced market sentiment.

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

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