These stocks are experiencing a strong price volume breakout

These stocks are experiencing a strong price volume breakout

Indian Market
by 5paisa Research Team Last Updated: 2023-01-04T11:47:56+05:30

Nifty 50 began today's session flat, with a bearish bias, amid dismal global trends. In this post, we have highlighted the top stocks that are experiencing a strong price volume breakout.

On Wednesday, Nifty 50 began flat with a bearish bias at 18,230.65, compared to its previous closing of 18,232.55. This occurred amid grim global trends. Key Wall Street indices ended down in their first trading session of 2023, owing to recession worries.

Having said that, all eyes will be on the new FOMC meeting minutes, as well as the job openings and labour turnover survey and the ISM manufacturing PMI. In overnight trade, Nasdaq Composite plummeted 0.76%, Dow Jones Industrial Average closed flat with a negative bias at 33,136.37 (down 0.03%), and the S&P 500 slid 0.4%.

Nifty 50 was trading at 18,092.7 at 11:10 a.m., down 139.85 points or 0.77%. Frontline indices outperformed broader market indices. Nifty Mid-Cap 100 index fell 1.03%, while Nifty Small-Cap 100 index dropped 1.07%.

The advance-decline ratio on the BSE was unfavourable, with 2063 stocks falling, 1192 rising, and 160 staying unchanged. On sectoral front, all the other sectors are trading in the red, with PSU banks, metals, and realty losing the most and pharma sector trading flat.

FIIs were net sellers, while DIIs were net purchasers, according to statistics as of January 3. Foreign Institutional Investors (FIIs) sold Rs 628.07 crore worth of shares. Domestic Institutional Investors (DIIs) invested Rs 350.57 crore in shares.

The following is a list of stocks that have seen a strong price volume breakout.

Stock Name 

CMP (Rs) 

Change (%) 

Volume 

HDFC Life Insurance Company Ltd. 

602.5 

1.2 

47,30,062 

Gujarat Narmada Valley Fertilizers and Chemicals Ltd. 

575.9 

1.5 

18,85,903 

Jindal Worldwide Ltd. 

458.3 

5.2 

9,41,124 

One 97 Communications Ltd. 

541.9 

1.2 

16,45,343 

Axis Bank Ltd. 

968.2 

0.6 

35,67,294 


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