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

The benchmark indices, Sensex and Nifty 50, ended higher on Friday, April 17, rising over 0.5 per cent each, supported by easing crude oil prices below USD 100 per barrel. However, losses in IT and insurance heavyweights capped further upside after weak Quarterly Results from Wipro and HDFC Life Insurance.

The Nifty 50 opened 30 points lower but recovered through the session to close above its 50-day exponential moving average (50-DEMA). By the end of the day, the index advanced 165 points, or 0.68 per cent, to settle at 24,361.75, holding above the 24,300 mark. The Sensex climbed 504.86 points, or 0.65 per cent, to close at 78,493.54. The Bank Nifty outperformed the frontline indices, gaining 0.85 per cent to end at 56,565.70.

Top 3 price-volume breakout stocks:

Ola Electric Mobility Ltd traded with a volume of around 35.13 crore shares and is currently trading at Rs 40.85 compared to its previous close of Rs 38.68, reflecting a rise of 5.61 per cent. The stock moved towards its recent range with high at Rs 42, while returns from its 52-week low stand at 83.60 per cent. The combination of increased volume and price movement indicates a price volume breakout, showing active participation during the session without indicating any directional certainty.

Suzlon Energy Ltd recorded a traded volume of about 33.71 crore shares and is currently trading at Rs 53.35 against the previous close of Rs 50.25, up by 6.17 per cent. The stock touched an Intraday high of Rs 53.74 and continues to remain below its 52-week high of Rs 74.3, while delivering 39.70 per cent returns from its 52-week low. The rise in both price and volume suggests a price volume breakout with increased market activity during the day.

Shipping Corporation of India Ltd saw trading volume of nearly 9.98 crore shares and is currently trading at Rs 306 compared to its previous close of Rs 288.93, marking a gain of 5.91 per cent. The stock hit its 52-week high of Rs 322.8 during the session, while returns from its 52-week low are at 93.60 per cent. The movement backed by higher volumes points to a price volume breakout, indicating participation across the counter without suggesting continuation or reversal.

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

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