Strong positive price-volume breakout is seen in these stocks; do you hold any?

The Sensex and Nifty both set new highs; Adani Group equities jump by much to 20 per cent; sugar stocks decline.

Indian benchmark indices soared to record highs on Wednesday, propelled by gains in key sectors and persistent foreign fund inflows. The BSE Sensex scaled its all-time peak of 69,744.62, registering a significant 0.52 per cent gain. Similarly, the NSE Nifty 50 index touched its all-time high of 20,961.95, closing with a notable 0.4 per cent rise.

Broader indices also echoed the positive sentiment, with the Nifty Mid-Cap index gaining 0.25 per cent and the Nifty Small-Cap index advancing 0.38 per cent. However, market volatility, as measured by the India VIX, surged by 2.10 per cent, indicating a rise in market fluctuations.

Sectorally, Nifty Media, Nifty IT, and Nifty Energy emerged as the top performers, while Nifty Bank, Nifty Pharma, and Nifty Realty lagged.

Among individual stocks, Wipro, LTIMindtree, and ITC were the Top Gainers within the Nifty 50 index. On the other hand, Adani Enterprises, Eicher Motors, and Cipla were among the notable decliners.

Price volume breakout is a potential trading opportunity that occurs in trending markets, up or down. In sideways markets, these opportunities are minimized. A breakout happens when the stock price moves above the crucial resistance level or below the sacrosanct support level with increasing volume. The most important aspect is to focus on increasing volume when the important support and resistance levels are broken.

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

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