These stocks gaining traction with strong price-volume breakouts; do you hold any?
Benchmark indexes ended the day on a bullish note on Friday, with the Sensex finishing 0.44 per cent higher after reaching a new all-time high of 69,893.
Benchmark indexes ended the day on a bullish note on Friday, with the Sensex finishing 0.44 per cent higher after reaching a new all-time high of 69,893. Similarly, the Nifty finished 0.33 per cent higher after reaching a new high of 21,006. Broader indexes, on the other hand, finished lower, with the Nifty Mid-Cap down 0.21 percent and the Nifty Small-Cap down 1.09 per cent.
Despite concerns about food and energy prices, the RBI maintains its fiscal year inflation forecast of 5.4 per cent, falling short of the elusive 4 per cent objective. FY24 GDP growth is expected to be 7 per cent, with 6.5 per cent and 6 per cent anticipated for the third and fourth quarters, demonstrating India's economic resiliency.
The RBI maintains the repo rate at 6.5 per cent in a unanimous decision, suggesting a cautious approach to accommodation removal while fostering economic momentum. The route to meeting the 4 per cent inflation objective is still uncertain.
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:
| Stock Name |
Per cent Change |
Price |
Volume |
| Spencers Retail Ltd |
16.54 |
117.3 |
95,07,412 |
| Tera Software Ltd |
15.52 |
54.35 |
19,62,249 |
| Orchid Pharma Ltd |
14.98 |
650.9 |
28,53,728 |
| Puravankara Projects Limited |
14.17 |
182.45 |
69,76,216 |
| Gmr Infrastructure Limited |
11.67 |
68.9 |
48,72,19,557 |
| Bodhi Tree Multimedia Ltd |
11.52 |
183.9 |
7,30,925 |
| Kohinoor Foods Limited |
11.3 |
58.1 |
80,55,194 |
| Kiocl Limited |
10 |
376.35 |
13,80,960 |
| Indiabulls Real Estate Limited |
9.57 |
89.9 |
8,62,48,006 |
| Xchanging Solutions Limited |
9.34 |
103.05 |
63,31,153 |
| Patel Engineering Limited |
9.28 |
61.85 |
4,01,69,768 |
| Nagreeka Exports Limited |
9.1 |
76.7 |
8,54,413 |
| Schneider Electric Infrastructure Limited |
9.03 |
371.35 |
66,90,455 |
| Medico Remedies Ltd |
8.63 |
86.9 |
9,52,799 |
| SMC Global Securities Ltd |
7.22 |
107.7 |
11,24,068 |
| Sobha Limited |
6.69 |
1031.9 |
25,23,695 |
| Aptus Value Housing Finance India Ltd |
6.51 |
318.05 |
28,23,437 |
| Nelco Limited |
6.23 |
794.45 |
10,26,791 |
| Mahindra Logistics Ltd |
5.96 |
381.35 |
28,88,155 |
| Goldiam International Limited |
5.81 |
179.4 |
16,92,258 |
Disclaimer: The article is for informational purposes only and not investment advice.
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