Volume Break Out: Several stocks witnessed volume break out at the start of the week, including Adani shares in the list – mssewb.org

Volume Break Out: Nifty 50 started the new week on a weak note amid volatility in global markets. Let’s take a look at the key stocks that witnessed volume breakouts today.

The Nifty 50 opened at 17,818.55 on Monday against Friday’s close of 17,854.05. This was a result of weak global market signals. Key Wall Street indexes traded in the red on Friday amid surprising U.S. jobs data in January. U.S. jobs data rose with the unemployment rate at a 2-year low, raising concerns about the Fed’s aggressive rate hikes. The Nasdaq Composite fell 1.6%, the Dow Jones Industrial Average fell 0.38% and the S&P 500 fell 1.04% on Friday.

At 10:15 am, the Nifty 50 was trading down 86.75 points or 0.49% at 17,767.3. Broad market indices on the other hand outperformed the forward indices. The Nifty Mid-Cap 100 Index and the Nifty Small-Cap 100 Index gained 0.49% and 0.85% respectively.

Multiple stocks witnessed volume breakouts

Nifty 50 is still not out of the blues and is trading below its 20 and 50-day Exponential Moving Average (EMA). However, it has taken good support at its 200-day EMA. Hence, Nifty 50 needs to breach 18,290-18,430 to initiate a fresh bullish move.

Below is the list of stocks which witnessed volume breakout-

Stock Name CMP (Rs.) Change (%) Volume
Zydus Lifesciences Ltd. 470.5 8.3 28,53,837
One 97 Communications Ltd. 550.8 4.9 32,08,096
Adani Ports and Special Economic Zone Ltd. 509.4 2.1 97,57,822
KPIT Technologies Ltd. 799.1 2.7 17,01,326
Elgi Equipments Ltd. 408.0 7.2 8,44,790

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