These stocks are exhibiting a strong price volume breakout

These stocks are exhibiting a strong price volume breakout

Indian Market
by 5paisa Research Team Last Updated: 2023-01-03T10:28:51+05:30

Nifty 50 opened lower on Tuesday amid weak global cues. In this article, we have listed the top stocks witnessing a strong price volume breakout. 

Nifty 50 opened lower on Tuesday at 18,163.2 as against its previous close of 18,197.45. This is a result of the uncertainty of the impact of the recession looming in 2023. Nifty 50 is still trading below its 50-Day Moving Average (DMA). Hence, in the near-term 18,300 is resistance and 18,050 would act as support.

The Central banks across the globe are warning about a prolonged inflation fight while the Russia-Ukraine war and COVID cases in China threaten to keep energy and raw material prices high. Even the Asian markets are trading mixed.

Australian and South Korean indices are trading flat to negative and China, Taiwan and Hong Kong indices trading in green. Dow Jones, S&P 500 and Nasdaq 100 futures are trading flat as US Fed minutes are in focus.

At 10:00 a.m., Nifty 50 index was trading flat at 18,207.15, up by 9.7 points or 0.05%. Broader market indices, on the other hand, outperformed frontline indices. Nifty Mid-Cap 100 index was up 0.34% and the Nifty Small-Cap 100 index gained 0.25%.

On BSE, the advance-decline ratio was optimistic with 2021 advancing, 999 declining and 138 remaining unchanged. On the sectoral front, apart from FMCG, metals and media, all sectors traded in the green.

According to the data as on January 2, FIIs were net sellers and DIIs were net buyers. Foreign Institutional Investors (FIIs) sold shares to the tune of Rs 212.57 crore. Domestic Institutional Investors (DIIs) bought shares worth Rs 743.35 crore.

The following is the list of stocks witnessing a strong price volume breakout.

Stock Name 

CMP (Rs) 

Change (%) 

Volume 

Life Insurance Corporation of India 

725.5 

2.3 

9,33,410 

Tata Motors Ltd. 

396.5 

0.4 

12,90,897 

Indian Railway Catering & Tourism Corporation Ltd. 

646.2 

0.6 

8,15,352 

PSP Projects 

730.2 

3.2 

2,56,913 

State Bank of India 

614.1 

0.3 

6,33,888 


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