These stocks gaining traction with strong price-volume breakouts; do you hold any?

Nifty 50 at 21,000, Sensex hits 70,000 in volatile session.

Sensex hit the mark of 70,000 on Monday whereas Nifty 50 also traded first time at 21,000 on Friday.

Indian stock markets closed higher on Monday, with benchmark indices Sensex and Nifty edging higher by 0.15 per cent and 0.13 per cent respectively. Mid-Cap and Small-Cap indexes also participated in the upward momentum, gaining 0.91 per cent and 0.71 per cent respectively.

The advance-decline ratio favored the bulls.

Commodities, Metals, and Services emerged as the clear winners, surging by 1.16 per cent, 1.10 per cent, and 0.95 per cent respectively. This suggests increased investor confidence in these sectors, likely driven by specific positive developments or broader economic optimism.

On the flip side, Healthcare and Oil & Gas stocks witnessed minor losses of 0.38 per cent and 0.15 per cent respectively. This indicates some profit-booking or concerns specific to these sectors.

Overall, despite the bullish sectoral performance, the market displayed a positive bias with most indices closing higher. This suggests that the underlying sentiment remains bullish, though pockets of weakness exist.

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.