Price Volume breakout stocks: These stocks likely to be in focus tomorrow!
Top 3 price-volume breakout stocks
Frontline indexes had a good end to the trading day on Thursday, with Sensex closing at 72,050.39, up 0.32 per cent, and Nifty following suit, closing at 21,910.75, up 0.32 per cent. Comparably, the Broader market saw significant increases as well; Nifty Mid-Cap ended the day up 1.01 per cent, and Nifty Small-Cap shot up 1.32 per cent.
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The India VIX, which measures market volatility, has decreased by 1.36 percent, indicating a little decline in market volatility.
Top 3 price-volume breakout stocks
NMDC Steel Ltd: Today, NMDC Steel Ltd opened at Rs 59, reaching a high of Rs 69.5 and a low of Rs 57.6, before closing at Rs 65.1. This marks a significant increase from the previous close of Rs 59, with a percentage change of 10.34 per cent. The stock has shown a price volume breakout, bouncing back from the 50-day Exponential Moving Average (EMA), indicating a potential uptrend. Furthermore, it has experienced a volume spike, suggesting increased investor interest. However, the Relative Strength Index (RSI) stands at 59.52, signaling a neutral sentiment among traders.
Mangalore Refinery and Petrochemicals Ltd: Mangalore Refinery and Petrochemicals Ltd started the day at Rs 205.35, hitting a high of Rs 244.7 and a low of Rs 203.2, eventually closing at Rs 244.7. This represents a substantial increase from the previous close of Rs 203.95, with a percentage change of 19.98 per cent. The stock has exhibited a price volume breakout and a breakout above its 52-week high, coupled with a volume spike, indicating strong bullish momentum. However, caution may be warranted as the RSI has surged to 80.29, entering the overbought zone.
Oil India Ltd: Oil India Ltd saw a bounce back near the 20-day EMA, opening at Rs 506.85 and reaching a high of Rs 575.4 and a low of Rs 503, closing at Rs 560.6. This marks a significant increase from the previous close of Rs 498.75, with a percentage change of 12.40 per cent. The stock has broken out above its 52-week high, accompanied by a price volume breakout and a volume spike, suggesting strong bullish momentum. However, the RSI is at 76.73, indicating a potentially overbought condition, necessitating caution among investors.
The following is a list of stocks with a strong positive breakout:
|
Sr.
|
Stock Name
|
Price
|
Volume
|
|
1
|
NMDC Steel Ltd
|
65.7
|
8,53,95,318
|
|
2
|
Mangalore Refinery And Petrochemicals Ltd
|
244.4
|
6,58,33,461
|
|
3
|
Oil India Ltd
|
563.15
|
2,80,15,375
|
|
4
|
Coffee Day Enterprises Ltd
|
66.05
|
2,70,88,923
|
|
5
|
Gujarat Pipavav Port Ltd
|
191.15
|
2,63,23,153
|
|
6
|
Bank Of India
|
142.95
|
2,59,72,994
|
|
7
|
National Fertilizers Ltd
|
107
|
2,37,32,132
|
|
8
|
Hindustan Petroleum Corporation Ltd
|
575
|
1,77,00,112
|
|
9
|
Mahanagar Telephone Nigam Ltd
|
47.05
|
1,71,41,353
|
|
10
|
Hindustan Oil Exploration Company Ltd
|
205.7
|
1,54,55,574
|
Disclaimer: The article is for informational purposes only and not investment advice.