Price Volume breakout stocks: These stocks likely to be in focus tomorrow!
Top 3 price-volume breakout stocks
On Monday, Benchmark indices concluded the first trading day of the week on a positive note as Sensex surged by 0.18 per cent and closed at 80,664.86 level, while Nifty soared by 0.35 per cent and reached its record high at 24,635.05 level. Similarly, the Broader market experienced gains as Nifty Mid-Cap closed higher by 0.86 per cent after making a record high at 57,687.65 level, while Nifty Small-Cap surged by 0.52 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 indicated by India VIX, has surged by 3.37 per cent and is trading above the level of 14 reflecting an increase in market volatility.
Top 3 price-volume breakout stocks
Bank of Maharashtra: Bank of Maharashtra Ltd is currently trading at Rs 68.8, experiencing a 5.72 per cent increase from its previous close of Rs 65.08. The stock's high for the day was Rs 69.7, with a substantial traded volume of 11.62 crores, indicating a price-volume breakout and a volume spike. The company has a market cap of Rs 48,699.41 crore and has seen multibagger returns of 130.49 per cent from its 52-week low, showing significant investor interest and strong performance. The stock is bouncing back from support levels, supported by an RSI of 62.76, suggesting moderate strength in its current upward momentum. Bank of Maharashtra is also nearing its 52-week high of Rs 73.5, reflecting its solid growth trajectory.
Mahanagar Telephone Nigam Ltd: Mahanagar Telephone Nigam Ltd is currently trading at Rs 49.4, marking a 6.95 per cent rise from its previous close of Rs 46.19. The stock reached a high of Rs 52.5 during the day, with a trading volume of 8.67 crores, signifying a price-volume breakout and a volume spike. With a market cap of Rs 3,079.70 crore, the stock has delivered impressive multibagger returns of 160.69 per cent from its 52-week low. The RSI stands at 74, indicating overbought conditions and strong investor interest. The stock is nearing its 52-week high of Rs 52.5, pointing to robust momentum and potential for further gains.
Indian Overseas Bank: Indian Overseas Bank is currently trading at Rs 68.31, showing a 7.29 per cent increase from its previous close of Rs 63.67. The stock hit a high of Rs 69.45 during the day, with a traded volume of 8.32 crores, indicating a price-volume breakout and a volume spike. The company's market cap stands at Rs 1,29,200.76 crore, and it has achieved multibagger returns of 167.36 per cent from its 52-week low. The stock is bouncing back from a trendline, supported by an RSI of 61.26, indicating moderate strength. Indian Overseas Bank is performing well, although it remains below its 52-week high of Rs 83.75, suggesting room for further appreciation.
The following is a list of stocks with a strong positive breakout:
|
Sr.
|
Stock Name
|
Price
|
Volume
|
|
1
|
Bank Of Maharashtra
|
68.75
|
11,61,86,128
|
|
2
|
Mahanagar Telephone Nigam Ltd
|
48.94
|
8,67,46,972
|
|
3
|
Indian Overseas Bank
|
68.42
|
8,31,69,397
|
|
4
|
MMTC Ltd
|
95.02
|
5,70,88,681
|
|
5
|
Oil & Natural Gas Corporation Ltd
|
322.5
|
5,14,35,537
|
|
6
|
IDBI Bank Ltd
|
91.48
|
4,78,65,887
|
|
7
|
Mukka Proteins Ltd
|
47.14
|
3,28,12,793
|
|
8
|
Castrol India Ltd
|
267.32
|
2,47,82,327
|
|
9
|
NLC India Ltd
|
297.73
|
2,44,92,458
|
|
10
|
Geojit Financial Services
|
121.57
|
2,30,75,536
|
Disclaimer: The article is for informational purposes only and not investment advice.