Price Volume breakout stocks: These stocks likely to be in focus Tomorrow!
Top 3 price-volume breakout stocks
On Monday, Benchmark indices concluded the trading day on a mixed note as Sensex marginally gained by 0.02 per cent and closed at 73,895.54 level, whereas Nifty plunged by 0.15 per cent and closed at 22,442.70 level. Similarly, the Broader market experienced substantial losses as the Nifty Mid-Cap closed lower by 0.54 per cent, while Nifty Small-Cap plummeted by 1.5 per cent.
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Market volatility, as indicated by India VIX, has surged by 13.24 per cent, reflecting a significant increase in market volatility.
Top 3 price-volume breakout stocks
Kotak Mahindra Bank Ltd: Kotak Mahindra Bank Ltd has seen a significant trading volume of 21,608,211 shares today, accompanying a notable price increase. The stock is currently trading at Rs 1,624.40, up by 5.02 per cent from its previous close of Rs 1,546.70. This movement comes amidst brokerages upgrading the stock following strong Quarterly Results. Despite challenges such as recent management changes and issues with regulatory bodies, the price has surged to a high of Rs 1,633 today. However, the bank's share price has decreased by 16.79 per cent over the past year, and it is trading close to its 52-week low of Rs 1,612.30. The Relative Strength Index (RSI) stands at 39.78, indicating a possible undervaluation at current levels.
Hindustan Motors Ltd: Hindustan Motors Ltd has captured investors' attention today with a trading volume of 20,325,254 shares. The stock hit its 52-week high, trading at Rs 42, which is the same as today’s high and represents a 5 per cent increase from the previous closing price of Rs 40. The surge comes after the stock consistently touched and remained at the upper circuit limit for the last two trading sessions, propelled by strong buying interest. With an RSI of 82.78, indicating that the stock might be overbought, Hindustan Motors has achieved multibagger returns of 174.51 per cent over the past year, signaling exceptional gains for long-term investors. Earlier, company had given interim dividend on Feb 9, 2024. The amount of dividend was Rs 0.10 per share.
Dolat Algotech Ltd: Dolat Algotech Ltd has shown an impressive performance with a trading volume of 7,806,108 shares today. The stock is currently trading at Rs 134.60, up 15.83 per cent from the previous close of Rs 116.20. It recently reached its 52-week high at Rs 136.6, driven by a strong uptrend and large trading volumes. Investors are showing a bullish sentiment, reflected by an RSI of 78.68, which suggests the stock might be reaching overbought territory. Over the last year, Dolat Algotech has provided multibagger returns of 166.57 per cent, highlighting its strong growth potential and appeal among investors.
The following is a list of stocks with a strong positive breakout:
|
Sr.
|
Stock Name
|
Price
|
Volume
|
|
1
|
Kotak Mahindra Bank Limited
|
1624.3
|
2,16,08,211
|
|
2
|
Hindustan Motors Limited
|
42
|
2,03,25,254
|
|
3
|
Dolat Algotech Ltd
|
134.35
|
78,06,643
|
|
4
|
Sarla Performance Fibers Limited
|
78.3
|
64,77,957
|
|
5
|
Centrum Capital Ltd
|
40.3
|
62,68,279
|
|
6
|
Gokul Agro Resources Limited
|
144.35
|
61,93,529
|
|
7
|
Godrej Properties Limited
|
2842.75
|
58,60,778
|
|
8
|
EPL Ltd
|
194.5
|
57,07,781
|
|
9
|
Cartrade Tech Ltd
|
809.75
|
31,74,084
|
|
10
|
Britannia Industries Limited
|
5061.6
|
28,37,757
|
Disclaimer: The article is for informational purposes only and not investment advice.