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

On Thursday, April 9, India’s benchmark indices, the Nifty 50 and the Sensex, ended in the red, snapping a five-day winning streak. The decline was primarily driven by weakness in financial stocks, while renewed tensions in the Middle East dampened hopes that the U.S.-Iran ceasefire would lead to lasting peace.

The Nifty 50 opened sharply lower with a gap-down start of 711 points. By the end of the session, the index closed down by 222.25 points, or 0.93 per cent, at 23,775.10. The Sensex also witnessed heavy selling pressure, declining by 931.5 points, or 1.20 per cent, to settle at 76,631.65. The Bank Nifty underperformed the frontline indices, falling 1.58 per cent to close at 54,821.70. Meanwhile, the India VIX, often referred to as the market’s fear gauge, surged by 3.71 per cent and closed above the 20 mark, indicating rising volatility.

Crude oil prices remained elevated, further weighing on market sentiment. Brent crude rose 2.5 per cent to USD 97.28, while WTI crude gained 3.3 per cent to USD 97.55. The rise in oil prices comes amid escalating geopolitical tensions, as Iran tightened control over the Strait of Hormuz, U.S. forces signaled continued presence in the region, and Israel intensified strikes in Lebanon.

Top 3 price-volume breakout stocks:

Ola Electric Mobility Ltd saw a strong move in today’s session, supported by high trading activity. The stock recorded a traded volume of around 78.64 crore shares, indicating significant participation. It is currently trading at Rs 36.32 compared to its previous close of Rs 30.27, registering a gain of 19.99 per cent. The stock has delivered returns of 63.24 per cent from its 52-week low, reflecting recovery in price levels. The price and volume breakout along with a volume spike suggests increased market interest during the session.

ITI Ltd also witnessed notable trading momentum with volumes of about 9.60 crore shares. The stock is currently trading at Rs 293.8 against its previous close of Rs 266.75, up by 10.14 per cent. It has generated returns of 24.23 per cent from its 52-week low. The rise in price along with higher volumes indicates active participation, supported by a price volume breakout and volume spike during the day.

HFCL Ltd recorded steady movement backed by trading volumes of approximately 7.76 crore shares. The stock is currently trading at Rs 79.55 compared to its previous close of Rs 75.17, marking a gain of 5.83 per cent. It has delivered returns of 32.98 per cent from its 52-week low. The session reflects a price volume breakout accompanied by a volume spike, indicating increased activity in the counter.

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

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