Price Volume breakout stocks: These stocks likely to be in focus Tomorrow!
Top 3 price-volume breakout stocks
On Tuesday, Benchmark indices concluded the trading day on a positive note as Sensex moderately declined by 0.25 per cent and closed at 74,482.78 level, while Nifty also marginally declined by 0.17 per cent and closed at 22,604.85 level. Similarly, the Broader market experienced moderate gains as Nifty Mid-Cap closed marginally higher by 0.07 per cent, whereas Nifty Small-Cap slightly declined by 0.04 per cent.
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Market volatility, as indicated by India VIX, has surged by 5.19 per cent, reflecting an increase in market volatility.
Top 3 price-volume breakout stocks
REC Limited: On Tuesday, REC Limited saw significant trading activity, with a volume of 72,903,180 shares, indicating strong investor interest. The stock is currently trading at Rs 509, up from the previous close of Rs 463, marking an impressive 9.94 per cent gain. This positive movement is attributed to several technical indicators such as a price volume breakout and a volume spike, highlighting increased trading momentum. Additionally, the stock is trading near its 52-week high of Rs 524 and has bounced back from its support levels, with an RSI at 71.01 suggesting that it might be slightly overbought but still has bullish momentum. REC Limited has shown remarkable performance with multibagger returns of 304.86 per cent over the past year, reflecting strong investor confidence and a bullish outlook for the market cap valued at Rs 133,614.06 crore. Recently company declacred Interim dividend or Rs 4.50 on ex-date of March 28, 2024.
Power Finance Corporation Ltd: Power Finance Corporation Ltd witnessed a trading volume of 53,552,269 today, driving the stock up by 5.78 per cent to currently trade at Rs 439.5, compared to the previous close of Rs 415.5. The stock experienced a resistance breakout, which, along with a price volume breakout and volume spike, suggests a strong upward trajectory. The technical analysis indicates an RSI of 68.38, which points to increasing bullish momentum, and the stock might continue its long-term bullish trend after this breakout. Over the past year, Power Finance Corporation Ltd has generated multibagger returns of 234.61 per cent, significantly outperforming expectations with a current market cap of Rs 145,630.57 crore. Recently company declacred Interim Dividend or Rs 3 on ex-date of March 22, 2024.
JM Financial Ltd: JM Financial Ltd traded actively with a volume of 32,845,416, which pushed the stock price up by 8.83 per cent to Rs 88.7 from a previous close of Rs 81.5. The stock has successfully crossed both its 50-day and 200-day EMA, a positive sign for trend followers, and is complemented by a price volume breakout and volume spike. The current RSI at 61.85 suggests that the stock is in a healthy uptrend without being overbought. JM Financial's performance, with a year return of 45.86 per cent and a market cap of Rs 8,476.11 crore, positions it well for future gains.
The following is a list of stocks with a strong positive breakout:
|
Sr.
|
Stock Name
|
Price
|
Volume
|
|
1
|
Rural Electrification Corporation Ltd
|
507.15
|
7,29,03,180
|
|
2
|
Power Finance Corporation Ltd
|
441.55
|
5,35,52,269
|
|
3
|
Jm Financial Ltd
|
88.9
|
3,28,49,717
|
|
4
|
Jubilant Foodworks Ltd
|
463.2
|
1,05,20,754
|
|
5
|
Usha Martin Ltd
|
377.05
|
1,02,36,771
|
|
6
|
JSFB
|
600.35
|
80,94,998
|
|
7
|
Pudumjee Paper Products Ltd
|
83.5
|
73,99,207
|
|
8
|
Kirloskar Electric Company Ltd
|
140.1
|
34,90,846
|
|
9
|
TruCap Finance Ltd
|
69.95
|
33,61,908
|
|
10
|
Global Surfaces Ltd
|
236.65
|
28,85,750
|
Disclaimer: The article is for informational purposes only and not investment advice.