Price Volume breakout stocks: These stocks likely to be in focus tomorrow!
Top 3 price-volume breakout stocks
On Wednesday, Benchmark indices concluded trading day on a higher note as Sensex moderately gained by 0.2 per cent and closed at 76,696.57 level, while Nifty gained by 0.25 per cent and closed at 23,322.95 level. Similarly, the Broader market also experienced gains as Nifty Mid-Cap closed significantly higher by 1.04 per cent and made a record high of 54,308.80 level, while Nifty Small-Cap soared by 1.23 per cent and reached its all-time high of 17,809.15 level.
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Market volatility, as indicated by India VIX, has declined by 2.56 per cent and is trading around the level of 14 reflecting a decrease in market volatility.
Top 3 price-volume breakout stocks
Reliance Power Ltd: Reliance Power Ltd witnessed a significant trading volume of 150,557,787 shares, with the price reaching Rs 31.54, up from the previous close of Rs 28.68. This 9.97% increase highlights strong market interest. Currently trading at Rs 31.54, the stock is nearing its 52-week high of Rs 34.45, indicating potential for further gains. The market cap stands at Rs 12,670.37 crore. Impressively, the stock has returned 128.55% from its 52-week low, showcasing multibagger returns. The RSI of 72.17 suggests that the stock is in overbought territory. The price volume breakout and volume spike underline the bullish sentiment, making Reliance Power Ltd a strong contender for continued upward movement.
Trident Ltd: Trident Ltd saw an impressive trading volume of 77,605,955 shares, with the stock price closing at Rs 40.91, up from Rs 37.84, marking an 8.11% increase. The stock is currently trading at Rs 40.91, not far from its 52-week high of Rs 52.9, indicating potential upside. The market cap is Rs 20,365.62 crore. With returns of 29.46% from its 52-week low, the stock has shown solid performance. The RSI at 64.03 indicates a healthy momentum. The price volume breakout and volume spike, combined with a bounce from support levels.
Patel Engineering Ltd: Patel Engineering Ltd experienced a robust trading volume of 30,500,397 shares, with the price reaching Rs 66.34, up from the previous close of Rs 63.13, a 5.08% increase. Currently trading at Rs 66.34, the stock is poised to challenge its 52-week high of Rs 77.5. The market cap is Rs 5,375.77 crore. The stock has delivered multibagger returns of 137.35% from its 52-week low, highlighting significant investor interest and potential for future growth. With an RSI of 62.52, the stock shows positive momentum. The price volume breakout and volume spike indicate that Patel Engineering Ltd is on the brink of a potential breakout.
The following is a list of stocks with a strong positive breakout:
|
Sr.
|
Stock Name
|
Price
|
Volume
|
|
1
|
Reliance Power Ltd
|
31.54
|
15,05,57,853
|
|
2
|
Trident Ltd
|
40.48
|
7,76,05,955
|
|
3
|
Patel Engineering Ltd
|
66.65
|
3,05,08,547
|
|
4
|
Tata Teleservices (maharashtra) Ltd
|
80.96
|
2,64,82,982
|
|
5
|
Mmtc Ltd
|
77.97
|
2,21,31,302
|
|
6
|
Morepen Laboratories Ltd
|
52.48
|
2,06,73,796
|
|
7
|
Shipping Corporation Of India Ltd
|
259.78
|
1,43,64,066
|
|
8
|
Sarla Performance Fibers Ltd
|
98.49
|
1,22,55,497
|
|
9
|
Asian Granito India Ltd
|
71.82
|
1,22,36,772
|
|
10
|
One 97 Communications Ltd
|
402.5
|
1,02,81,686
|
Disclaimer: The article is for informational purposes only and not investment advice.