Price Volume breakout stocks: These stocks likely to be in focus tomorrow!
Top 3 price-volume breakout stocks
On Wednesday, frontline indexes ended the trading day on a bullish note, with the Sensex closing 0.39 per cent higher at 71,833.17, and the Nifty rising 0.45 per cent to 21,840.05. Similarly, the Broader market saw significant gains, with Nifty Mid-Cap closing up 1.04 per cent and Nifty Small-Cap rising 1.61 per cent.
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Market volatility, as measured by the India VIX, has fallen by 2.36 per cent, signifying a drop in market volatility.
Top 3 price-volume breakout stocks
SJVN Ltd: The stock of SJVN Ltd has shown promising signs today. It experienced a price volume breakout, indicating a potential uptrend. Moreover, it bounced back from its 50-day Exponential Moving Average (EMA) and trendline, showing strength in its support levels. The Relative Strength Index (RSI) is at a neutral level of 50.76, suggesting neither overbought nor oversold conditions. There's also a notable volume spike, indicating increased investor interest. With the stock currently trading at Rs 121.5, which is higher than the previous close of Rs 108.15, it reflects a significant 12.34 per cent change. Although it's below its 52-week high of Rs 170.5, there seems to be potential for further upside based on today's indicators.
National Aluminium Company Limited: Today, National Aluminium Company Limited displayed several positive indicators. Firstly, it witnessed a price volume breakout, suggesting a potential uptrend. Additionally, it bounced back from its trendline and support levels, indicating strong buying interest. The RSI is at a healthy level of 60.67, showing bullish momentum. Furthermore, there's a noticeable increase in volumes during updays, signifying growing investor confidence. With the stock trading at Rs 155.4, up from the previous close of Rs 141.95, it reflects a significant 9.48 per cent change. While it's currently below its 52-week high of Rs 165.55, today's performance suggests a positive outlook for the stock in the near term.
Indian Oil Corporation Ltd: Indian Oil Corporation Ltd showed some interesting movements today. It bounced back near its 20-day EMA, indicating potential support at this level. There's also a pullback observed, suggesting a temporary reversal in the prevailing trend. The formation of a base-on-base pattern further indicates a consolidation phase. The RSI is relatively high at 70.18, indicating overbought conditions. Moreover, there's been a price volume breakout accompanied by a volume spike, signaling increased trading activity. With the stock currently trading at Rs 183.6, up from the previous close of Rs 174.45, it reflects a 5.25 per cent change. While it's below its 52-week high of Rs 196.8, today's technical indicators suggest cautious optimism for investors.
The following is a list of stocks with a strong positive breakout:
|
Sr.
|
Stock Name
|
Price
|
Volume
|
|
1
|
Sjvn Ltd
|
120.55
|
16,69,98,522
|
|
2
|
National Aluminium Company Ltd
|
155.9
|
9,97,88,791
|
|
3
|
Indian Oil Corporation Ltd
|
183.55
|
5,27,64,507
|
|
4
|
Infibeam Incorporation Ltd
|
35.2
|
5,11,93,804
|
|
5
|
Zee Entertainment Enterprises Ltd
|
200.2
|
3,64,88,860
|
|
6
|
Irb Infrastructure Developers Ltd
|
66.65
|
2,77,09,690
|
|
7
|
Bharat Petroleum Corporation Ltd
|
623.65
|
2,39,93,681
|
|
8
|
Mangalore Refinery And Petrochemicals Ltd
|
203.95
|
2,13,74,176
|
|
9
|
Hindustan Petroleum Corporation Ltd
|
543.3
|
1,41,35,751
|
|
10
|
Indiabulls Housing Finance Ltd
|
189.6
|
1,41,14,145
|
Disclaimer: The article is for informational purposes only and not investment advice.