Price Volume breakout stocks: These stocks likely to be in focus Tomorrow!

Price Volume breakout stocks: These stocks likely to be in focus Tomorrow!

Prajwal Wakhare

Top 3 price-volume breakout stocks

On Wednesday, Benchmark indices concluded trading day on a flat note as Sensex marginally declined by 0.06 per cent and closed at 73,466.39 level, while Nifty closed flat at 22,302.50 level. Similarly, the Broader market experienced substantial gains as Nifty Mid-Cap closed higher by 0.85 per cent, while Nifty Small-Cap surged by 0.6 per cent.

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Market volatility, as indicated by India VIX, has surged by 0.12 per cent, reflecting a slight increase in market volatility.

Top 3 price-volume breakout stocks

REC Limited: REC Limited has shown significant activity with a high trading volume of 48,742,004 shares. The stock is currently trading at Rs 534.5, up by 5.41 per cent from the previous close of Rs 507.05. This rise indicates strong investor interest, possibly influenced by the recent declaration of an interim dividend of Rs 4.50 per share on March 28, 2024. The stock is close to its 52-week high of Rs 567.15 and displays robust momentum, as indicated by its RSI of 64.81. With a whopping year-on-year return of 299.40 per cent, REC Limited's performance is noteworthy in the market, making it a focus for both dividend seekers and growth-oriented investors.

NSE:RECLTD Chart Image by prajwalwakhare

Housing And Urban Development Corp Ltd (HUDCO): HUDCO's stock is currently trading at Rs 223.25, which reflects a 7.31 per cent increase from its previous close of Rs 208.05, with a traded volume of 38,018,443 shares. The stock has experienced a price volume breakout and is trading above its 50-day EMA, indicating strong buying momentum. Additionally, the RSI stands at 61.85, supporting the bullish trend. On March 28, 2024, the company also declared an interim dividend of Rs 1.50 per share, which may attract income-focused investors. HUDCO has been performing well with a return of 298.13 per cent over the past year, the company is to announce its quarterly result on May 29, 2024

NSE:HUDCO Chart Image by prajwalwakhare

IFCI Ltd: IFCI Ltd has observed a price volume breakout with a significant trading volume of 31,988,876 shares. Currently, the stock is trading at Rs 52.75, up 7.65 per cent from its previous close of Rs 49. This increase demonstrates strong investor confidence and market momentum, supported by an RSI of 63.45. Despite being below its 52-week high of Rs 71.8, IFCI has achieved a solid annual return of 116.59 per cent, indicating robust long-term growth potential. Investors might keep a close watch for the anticipated breakout from the mother candle formation to gauge future price movements effectively.

NSE:IFCI Chart Image by prajwalwakhare

The following is a list of stocks with a strong positive breakout:

Sr.

Stock Name

Price

Volume

1

Rural Electrification Corporation Limited

534

4,87,41,994

2

Housing and Urban Development Corporation

223.75

3,80,15,794

3

Ifci Limited

52.4

3,19,90,901

4

Nbcc (india) Limited

135.9

1,78,19,761

5

Jain Irrigation Systems Limited

68.3

1,76,86,939

6

Crompton Greaves Consumer Electricals Limited

340

1,30,23,545

7

Bharat Forge Limited

1405.15

1,23,88,890

8

Peninsula Land Limited

61.3

1,21,01,605

9

Hindustan Zinc Limited

471.85

88,97,844

10

Cartrade Tech Ltd

930.8

54,49,835

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

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