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

On Wednesday, October 29, Indian equity benchmark indices closed higher for the day, supported by gains in heavyweights Reliance Industries and HDFC Bank. The Nifty 50 rose 117.70 points, or 0.45 per cent, to end at 26,053.90, while the Sensex gained 368.98 points, or 0.44 per cent, to settle at 84,997.13. India VIX remained stable near the 12 level, reflecting steady market sentiment ahead of the US Federal Reserve’s policy outcome.

Top 3 price-volume breakout stocks:

Steel Authority of India Ltd (SAIL): Steel Authority of India Ltd traded with strong activity today, closing at Rs 140.29, up 6.15 per cent from the previous close of Rs 132.16. The stock touched a high of Rs 143.27, which is also its 52-week high. Trading volume stood at around 14.34 crore shares, indicating a volume spike. The company has delivered 41.49 per cent returns from its 52-week low. The move reflects a price-volume breakout with strong participation in the stock.

Reliance Power Ltd: Reliance Power Ltd ended the day at Rs 46.25, up 5.88 per cent from the previous close of Rs 43.68. The stock recorded a high of Rs 47.6, and about 8.68 crore shares were traded during the session. It has given 47.91 per cent returns from its 52-week low. The stock witnessed a price-volume breakout supported by a noticeable volume spike.

Indian Oil Corporation Ltd (IOCL): Indian Oil Corporation Ltd traded higher at Rs 163, rising 5.49 per cent from the previous close of Rs 154.52. The stock hit a high of Rs 163.73, which also marks its 52-week high. The trading volume was around 5.84 crore shares. IOCL has given 47.22 per cent returns from its 52-week low. The session reflected a price-volume breakout with strong turnover.

Following is a list of stocks with a strong positive breakout:

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