Top 3 price-volume breakout stocks

Top 3 price-volume breakout stocks

The main stock indices ended the day positively, achieving fresh record highs. The Sensex saw a significant increase of 1.05 per cent, setting a new all-time peak at 73,402.16, and the Nifty also reached its highest level of 22,115.55 with a surge of over 0.93 per cent.

In today's intraday trading session, the Nifty 50 exhibited a positive trend, closing at 21,894.55, marking a gain of 247.35 points or 1.14 per cent.

With this robust move, the stock has registered a resolute breakout of almost a 4-month stage-2 consolidation, signaling the resumption of an upward trend and presenting a fresh entry opportunity. The depth of the consolidation is about 23 per cent, and the stock is trading above all the short and long-term moving averages, which are trending upward in a desired sequence.

Nifty 50 exhibited a relatively stable performance, opening at 21,688 and reaching a high of 21,726. The index experienced a slight uptick of 28.50 points.

The market opened at 21,529.30, witnessing an initial push, with the index reaching a high of 21,641.85 during the day. The market experienced some fluctuations as it dipped to a low of 21,448.65. The overall intraday movement suggests a cautious yet positive sentiment among traders, with the index managing to maintain its upward trajectory despite minor fluctuations.

The market witnessed a relatively narrow trading range, with the index fluctuating between a low of 21,517.85 and a high of 21,724.45. The marginal change of 31.85 points, equivalent to 0.15 per cent, suggests a subdued market movement.

The market opened at 21,747.60 but failed to sustain the initial momentum, reaching a high of 21,763.95 and a low of 21,492.90.

The strength of this breakout was emphasized by robust volume, exceeding four times the 30-day average volume of 4.51 lakhs shares per day, indicating substantial participation in the direction of the trend.