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 0.72 per cent and made a record high of 79,396.03 level, while Nifty surged by 0.74 per cent also made an all-time high of 24,087.45 level. Whereas the Broader market experienced mixed performance as Nifty Mid-Cap closed higher by 0.32 per cent, while Nifty Small-Cap declined by 0.67 per cent.

Market volatility, as indicated by India VIX, has surged by 0.77 per cent and is trading around the level of 14 reflecting a slight increase in market volatility.

Top 3 price-volume breakout stocks

India Cements Ltd: India Cements Ltd hit a new 52-week high today at Rs 298.8 with a massive traded volume of 14.51 crore shares. The stock is currently trading at Rs 291.75, up from its previous close of Rs 262.62, marking an impressive 11.09 per cent gain. With a market cap of Rs 9087.81 crore, the stock has shown a remarkable return of 69.08 per cent from its 52-week low. The stock is experiencing a price-volume breakout along with a volume spike, indicating strong bullish momentum. The RSI is at a high level of 89.81, suggesting the stock might be overbought. UltraTech Cement's announcement of acquiring a 23 per cent stake in India Cements has also boosted investor confidence, with UltraTech shares up by 5 per cent.

Manappuram Finance Ltd: Manappuram Finance Ltd reached a new 52-week high at Rs 214, with a trading volume of 4.96 crore shares. It is currently trading at Rs 210.9, an increase from the previous close of Rs 196.27, which translates to a 7.45 per cent rise. The company's market cap stands at Rs 17874.44 crore, and it has delivered a solid return of 72.02 per cent from its 52-week low. The stock is seeing a price-volume breakout and a volume spike, indicating strong buying interest. The RSI of 73.18 suggests that the stock is nearing overbought territory. Positive sentiment from CLSA's optimistic outlook, seeing the company gaining from a rival's troubles, has further fueled the stock's rise.

Texmaco Rail & Engineering Ltd: Texmaco Rail & Engineering Ltd has reached a new 52-week high at Rs 245.65, trading with a volume of 3.76 crore shares. The stock is currently trading at Rs 237.8, up from its previous close of Rs 221.11, reflecting a 7.55 per cent increase. With a market cap of Rs 7642.26 crore, the stock has provided multibagger returns of 219.19 per cent from its 52-week low. The price-volume breakout, volume spike, and the rounding bottom formation indicate a strong bullish trend. The RSI is at 70.39, suggesting the stock is approaching overbought levels. The combination of technical patterns and high returns marks Texmaco Rail & Engineering as a notable performer in the market.

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

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