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

The Indian equity benchmark indices ended lower on Friday, May 8, as rising crude oil prices and geopolitical tensions between the U.S. and Iran weighed on investor sentiment. The Sensex and Nifty 50 both declined by over 0.5 per cent, tracking weakness across financial and Banking stocks, while oil prices surged above USD 100 per barrel.

The Nifty 50 opened weak at 24,233.65 and extended losses during the session, hitting an Intraday low of 24,126.65. It finally settled just below the 24,200 mark at 24,176.15, down 150.50 points or 0.62 per cent. The Sensex also closed lower, falling 516.34 points or 0.66 per cent to end at 77,844.53. The Bank Nifty was under significant pressure, declining over 1 per cent to close just above the 55,300 level. The India VIX index ended marginally higher, indicating a slight rise in market volatility.

On a weekly basis, the Nifty 50 index still managed to close 0.74 per cent higher, extending gains for the second consecutive week despite Friday’s decline.

Top 3 price-volume breakout stocks:

Firstsource Solutions Ltd witnessed a price-volume breakout on heavy trading activity. The stock traded at a high of Rs 280.85 and was currently trading at Rs 272.40, up 15.83 per cent from the previous close of Rs 235.18. Trading volume stood at 8.55 crore shares, indicating a volume spike during the session. The stock has delivered returns of 34.85 per cent from its 52-week low, while its market capitalisation stood at Rs 18,908.57 crore. The stock remains below its 52-week high of Rs 403.80.

Mangalore Refinery and Petrochmcls Ltd also saw strong trading interest with a price-volume breakout. The stock touched a high of Rs 169.90 and was currently trading at Rs 167.97, higher by 8.12 per cent against the previous close of Rs 155.35. Around 6.61 crore shares changed hands during the session, reflecting a volume spike. The stock has gained 39.98 per cent from its 52-week low, while its market capitalisation stood at Rs 29,430.42 crore. Its 52-week high is Rs 212.31.

Shipping Corporation of India Ltd recorded a price-volume breakout with strong volumes. The stock hit its 52-week high of Rs 345 during the session and was currently trading at Rs 339.10, up 6.10 per cent from the previous close of Rs 319.60. Trading volume stood at 3.34 crore shares, showing a volume spike. The stock has delivered multibagger returns of 114.54 per cent from its 52-week low, while its market capitalisation stood at Rs 15,774.01 crore.

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

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