These stocks gaining traction with strong price-volume breakouts; do you hold any?
The Indian stock market ended lower on Tuesday, with the Sensex dropping 378 points and the Nifty closing at 20,900. Realty, power, and oil & gas stocks were the biggest drags on the market.
Indian stock markets faced a downturn on Tuesday, with benchmark indices Sensex and Nifty closing lower by 0.54 per cent and 0.43 per cent respectively. The decline extended to Mid-Cap and Small-Cap indices as well, losing 0.40 per cent and 0.27 per cent respectively. The overall market sentiment remained bearish, with declining stocks outnumbering advancing ones.
Amidst the general market dip, IT and Services sectors bucked the trend, surging by 0.03 per cent and 0.12 per cent respectively. This positive performance suggests increased investor confidence in these sectors, likely driven by specific positive developments or broader economic optimism.
On the other hand, Oil & Gas and Realty stocks bore the brunt of the selling pressure, plummeting by 1.84 per cent and 1.82 per cent respectively. This significant decline could indicate profit-booking by investors or concerns specific to these sectors.
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:
|
Sr.
|
Stock Name
|
Per cent Change
|
Price
|
Volume
|
|
1
|
The Jammu & Kashmir Bank Limited
|
7.07
|
134.05
|
4,09,16,076
|
|
2
|
Equitas Small Finance Bank Ltd
|
9.95
|
103.90
|
3,97,28,906
|
|
3
|
Subex Ltd
|
6.09
|
35.70
|
3,76,25,425
|
|
4
|
Inox Green Energy Services Ltd
|
17.89
|
103.45
|
3,71,87,769
|
|
5
|
Bls International Services Limited
|
7.02
|
317.10
|
2,60,19,599
|
|
6
|
HDFC Life Insurance Company Ltd
|
5.18
|
707.35
|
1,07,49,420
|
|
7
|
MSTC Ltd
|
10.37
|
479.15
|
63,88,919
|
|
8
|
Alembic Limited
|
7.06
|
96.25
|
63,83,342
|
|
9
|
Energy Development Company Limited
|
19.89
|
31.35
|
57,27,192
|
|
10
|
Pennar Industries Limited
|
9.64
|
126.85
|
47,33,401
|
|
11
|
TruCap Finance Ltd
|
5.92
|
71.55
|
34,37,075
|
|
12
|
Surana Solar Limited
|
19.89
|
32.25
|
29,14,158
|
|
13
|
Shree Digvijay Cement Co. Ltd
|
5.56
|
94.85
|
29,04,434
|
|
14
|
Spencers Retail Ltd
|
5.66
|
122.35
|
25,03,720
|
|
15
|
Tvs Electronics Limited
|
6.61
|
370.25
|
22,44,153
|
|
16
|
Paramount Communications Limited
|
5.00
|
75.60
|
22,10,458
|
|
17
|
The State Trading Corporation Of India Limited
|
5.32
|
135.55
|
18,47,002
|
|
18
|
Hindustan Media Ventures Limited
|
7.05
|
91.15
|
11,81,078
|
|
19
|
KPI Green Energy Ltd
|
9.37
|
1380.15
|
11,57,622
|
|
20
|
GRM Overseas Ltd
|
7.69
|
207.30
|
10,24,624
|
Disclaimer: The article is for informational purposes only and not investment advice.
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