A solid positive breakout is seen in these stocks; do you hold them?

A solid positive breakout is seen in these stocks; do you hold them?

Prajwal Wakhare
/ Categories: Trending, Mindshare

The Indian stock market soared to new heights today, with the Sensex closing at a record high of 21,463 points, driven by strong gains in IT, banking, and metal stocks.

Indian stock markets closed in the green on Friday, with benchmark indices Sensex and Nifty closing higher by 1.37 per cent and 1.29 per cent respectively. The gains extended to Small-Cap index gaining 0.58 per cent whereas Mid-Cap saw a slight dip of 0.07 per cent. The overall market sentiment remained bullish, with advancing stocks almost equaling declining ones.

The market rose in early trade following consolidation and ended with a bull rally intraday basis, the IT and Teck sectors bucked the trend, surging by 4.41 per cent and 3.64 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, Realty & Consumer Durables bore the brunt of the selling pressure, plummeting by 0.76 per cent and 0.32 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. No. Stock Name Per cent Change Price Volume
1 National Aluminium Company Limited 6.19 110.7 10,99,70,867
2 Himachal Futuristic Communications Limited 9.37 74.1 8,59,09,624
3 Jm Financial Limited 13.52 101.15 7,33,19,611
4 Mahanagar Telephone Nigam Limited 6.62 33.8 3,42,47,940
5 Coffee Day Enterprises Limited 8.02 57.9 3,09,47,842
6 Morepen Laboratories Limited 6.29 46.45 1,94,95,694
7 Zensar Technologies Limited 10.96 593.6 1,85,70,567
8 Infosys Limited 5.13 1578.4 1,83,95,389
9 ESAF Small Finance Bank Ltd 5.46 70.5 90,86,098
10 Tata Consultancy Services Limited 5.28 3861 85,31,230
11 Sunflag Iron And Steel Company Limited 10.64 222.5 81,82,663
12 Hcl Technologies Limited 5.42 1491.3 73,74,290
13 Xchanging Solutions Limited 8.99 112.1 71,51,915
14 Bgr Energy Systems Limited 8.32 102.25 70,12,589
15 3i Infotech Ltd 5.57 47.4 60,23,355
16 IIFL Securities Ltd 9.13 133.25 59,61,098
17 Hindustan Oil Exploration Company Limited 5.09 169.45 50,85,968
18 Arvind Limited 7.83 248.6 46,45,844
19 Coral India Finance & Housing Ltd 20.00 61.3 39,58,166
20 Kiri Industries Limited 19.99 351.7 41,85,599

 

Disclaimer: The article is for informational purposes only and not investment advice.

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