Price Volume breakout stocks: These stocks likely to be in focus tomorrow!
Top 3 price-volume breakout stocks
Indian benchmark indices continued their winning streak for the sixth straight session on Thursday, bolstered by favourable global cues and growing anticipation that the U.S. Federal Reserve could initiate interest rate cuts in September. The BSE Sensex gained 0.18 per cent reaching a level of 81,053. The Nifty 50 index surged 0.17 per cent to the 24,811 level.
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The BSE Mid-Cap Index surged by 0.67 per cent, while the BSE Small-Cap Index gained 0.47 per cent. Precision Camshafts Ltd, TVS Electronics Ltd, and Morepen Laboratories Ltd were the Top Gainers among small-cap stocks.
Top 3 price-volume breakout stocks
Morepen Laboratories Ltd: Morepen Laboratories Ltd is currently trading at Rs 78.3, up by 12.29 per cent from its previous close of Rs 69.73. The stock has reached a new 52-week high of Rs 80.2, indicating strong upward momentum. The company’s stock has shown multibagger returns of 150.16 per cent from its 52-week low. The traded volume for the day stands at 11.38 crore shares, which indicates a significant spike in trading activity. The stock is witnessing a price-volume breakout, coupled with a 52-week high breakout, suggesting a strong demand among investors. The RSI is at 76.31, signaling that the stock might be in the overbought zone.
Indian Renewable Energy Dev Agency Ltd: Indian Renewable Energy Dev Agency Ltd is trading at Rs 258.95, reflecting an 8.37 per cent increase from the previous close of Rs 238.95. The stock has shown multibagger returns of 417.90 per cent from its 52-week low, approaching its 52-week high of Rs 310. The traded volume for the day is 8.71 crore shares, indicating a significant increase in trading activity. The stock is showing a price-volume breakout, with the RSI at 57.19, suggesting that it may continue its upward trend, supported by a bounce from the 20-day and 50-day EMA.
Kalyan Jewellers India Ltd: Kalyan Jewellers India Ltd is currently trading at Rs 602.75, up by 10.71 per cent from the previous close of Rs 544.45. The stock has shown multibagger returns of 197.21 per cent from its 52-week low, approaching its 52-week high of Rs 633.6. The traded volume stands at 3.71 crore shares, indicating a significant increase in market participation. The stock is experiencing a price-volume breakout, with the RSI at 67.65, suggesting continued strength, supported by a bounce from the 20-day and 50-day EMA.
The following is a list of stocks with a strong positive breakout:
|
Sr.
|
Stock Name
|
Price
|
Volume
|
|
1
|
Morepen Laboratories Ltd
|
78.64
|
11,37,66,513
|
|
2
|
Indian Renewable Energy Development Agency Ltd
|
257.1
|
8,71,25,691
|
|
3
|
Kalyan Jewellers India Ltd
|
596.4
|
3,70,54,765
|
|
4
|
Rashtriya Chemicals And Fertilizers Ltd
|
202.69
|
1,76,34,441
|
|
5
|
Inox Green Energy Services Ltd
|
210.84
|
1,71,80,981
|
|
6
|
National Fertilizers Ltd
|
142.7
|
1,67,20,563
|
|
7
|
Equinox India Developments Ltd
|
142.17
|
1,62,72,972
|
|
8
|
Shyam Metalics & Energy Ltd
|
810.2
|
1,39,68,214
|
|
9
|
Bhansali Engineering Polymers Ltd
|
164.39
|
1,19,88,630
|
|
10
|
Varroc Engineering Ltd
|
604.9
|
96,58,434
|
Disclaimer: The article is for informational purposes only and not investment advice.