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

The benchmark Indian equity indices, Sensex and Nifty 50, closed marginally lower on Thursday, May 7, tracking a global rally triggered by falling crude oil prices amid expectations of a potential U.S.-Iran peace deal.

The Nifty 50 opened higher at 24,398.50 and pared some gains after touching an Intraday high of 24,482.10. The index eventually settled at 24,326.65, down 4.30 points or 0.02 per cent, just above the 24,300 mark.

The Sensex also ended lower, declining 113.99 points or 0.15 per cent to close at 77,844.53.

Top 3 price-volume breakout stocks:

Piramal Pharma Ltd touched a high of Rs 196.44 after witnessing traded volume of 5.13 crore shares. The stock is currently trading at Rs 183.60 compared to its previous close of Rs 165.19, up 11.14 per cent. The stock remains below its 52-week high of Rs 226 and has delivered returns of 38.78 per cent from its 52-week low. The move was supported by a price volume breakout and volume spike.

Tejas Networks Ltd hit a high of Rs 554.95 with traded volume of 4.84 crore shares. The stock is currently trading at Rs 532.20 against its previous close of Rs 463.20, gaining 14.90 per cent. The stock is below its 52-week high of Rs 761.60 and has given returns of 81.02 per cent from its 52-week low. The counter saw a price volume breakout along with a volume spike during trade.

Bharat Heavy Electricals Ltd touched its 52-week high of Rs 408.35 after recording traded volume of 3.72 crore shares. The stock is currently trading at Rs 406.50 compared to its previous close of Rs 385.95, higher by 5.32 per cent. The stock has delivered returns of 98.18 per cent from its 52-week low. Trading activity indicated a price volume breakout and volume spike.

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

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