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

On Thursday, February 19, India’s key equity benchmarks reversed early gains and traded sharply lower amid broad-based selling across sectors. The decline snapped a three-day winning streak and wiped out more than Rs 4 lakh crore in investor wealth, pulling total BSE market capitalisation to around Rs 467 lakh crore. Markets had opened higher on optimism over improving earnings outlook but tanked in afternoon trade due to profit booking.

At the closing bell, the Nifty 50 closed down 365 points, or 1.41 per cent, at 25,454.35, while the Sensex plunged 1236.11 points, or 1.48 per cent, to 82,498.14. Banking stocks weakened nearly 1 per cent, led by Kotak Mahindra Bank, Axis Bank and IndusInd Bank falling 1 per cent to 2.5 per cent. Financial stocks including Shriram Finance and Bajaj Finserv declined 1 per cent to 2 per cent. Bank Nifty hovered near 61,000 during the session and closed at 60,739.55, down 1.32 per cent.

Top 3 price-volume breakout stocks:

Newgen Software Technologies Ltd saw a price-volume breakout with traded Volume of about 6.13 crore shares and Currently trading at Rs 601.65 versus previous close Rs 531.55, reflecting a move of 13.19 per cent, while Returns from the 52-week low stand at 31.18 per cent, showing recovery supported by participation.

Tata Investment Corporation Ltd recorded Volume near 2.32 crore shares and is Currently trading at Rs 682.8 compared with Rs 644 earlier, a change of 6.02 per cent, with Returns from the 52-week low at 30.40 per cent indicating continued upward tracking after higher activity.

Oil India Ltd also showed a price-volume breakout as Volume reached about 1.96 crore shares and the stock is Currently trading at Rs 477 against Rs 453.45 previously, up 5.19 per cent, while Returns from the 52-week low are 46.77 per cent showing sustained movement following participation.

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

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