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

On Monday, March 2, India’s key equity benchmarks, the Nifty 50 and the Sensex, closed in the red, falling over 1 per cent as escalating Middle East tensions pushed crude oil prices higher and triggered a flight to safe-haven assets, weighing on investor sentiment.

The benchmark Nifty 50 opened sharply lower, slipping towards the 24,600 mark before recovering nearly 200 points from the day’s low. However, the index extended losses for the second consecutive session. At close, the Nifty 50 declined 312.95 points, or 1.24 per cent, to settle at 24,865.70, below the 25,000 mark. The Sensex dropped 1,048.34 points, or 1.29 per cent, to end at 80,238.85. The Bank Nifty finished 1.14 per cent lower at 59,839.65, while the Indian fear gauge, India VIX, surged over 225 per cent, crossing the 17 level, indicating heightened volatility.

Top 3 price-volume breakout stocks:

Defence-and-space-technologies-ltd-301603">Paras Defence and Space Technologies Ltd touched a high of Rs 722.5 and is currently trading at Rs 657, up 3.01 per cent from its previous close of Rs 637.8. The stock saw traded volume of 1.78 crore shares, indicating active participation during the session. It has delivered 62.34 per cent Returns from its 52-week low, while its 52-week high stands at Rs 972.5. The price movement along with higher volume suggests a price volume breakout in today’s trade. The company’s market cap stands at Rs 5,445.45 crore.

Sterlite Technologies Ltd hit a high of Rs 174 and is currently trading at Rs 173.37, gaining 8.91 per cent compared to its previous close of Rs 159.18. The counter recorded traded volume of 1.48 crore shares. It has posted 219.63 per cent Returns from its 52-week low, reflecting multibagger returns, and is trading near its 52-week high of Rs 174. The strong move supported by volume indicates a price volume breakout during the session. The company’s market cap is Rs 8,446.43 crore.

IdeaForge Technology Ltd reached a high of Rs 474.4 and is currently trading at Rs 429, up 3.87 per cent from its previous close of Rs 413. The stock registered traded volume of 1.46 crore shares. It has generated 41.03 per cent Returns from its 52-week low, while its 52-week high is Rs 659.85. The rise in price along with increased volume points to a price volume breakout in today’s session. The company’s market cap stands at Rs 1,924.21 crore.

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

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