These stocks see a huge volume burst in the last leg of the trading session!
IGL, Spandana Sphoorty, and Hindalco have witnessed volume burst in the last 75 minutes of the trade.
As the saying goes, the first and the last hour of each trading session is the most important and active in terms of price and volume. More so, the activity in the last hour is said to be of utmost importance because most of the pro traders and institutions are active at this time. Hence, when a stock sees a good spike in volume in the last leg of trade along with price rise it is said to be the pro and institutions have a keen interest in the stock. Market participants should keep a close watch on these stocks as they can witness good momentum in the short-medium term.
So, based on this principle we have shortlisted three stocks, which have witnessed volume burst in the last leg of trade along with price rise.
Indraprastha Gas Limited: The stock closed higher by 5.87% today. It traded positively for most of the day but received strong buying interest towards the end of the session. In the last 75 minutes of the trade, the stock gained about 2% and recorded above average volume during the process. Meanwhile, the daily volume was greater than the 10-day and 30-day average volume and indicates strong trading activity. With such a positive bias, the stock is an attractive trading idea for upcoming days.
Spandana Sphoorty: The stock soared about 5.12% on Wednesday. It witnessed strong surge in demand as the price rose over 7% and it recorded huge volume. Over 75% of the total day’s volume was recorded during this period. This can be attributed to institutional buying which propelled the stock higher. It closed at day’s high, and it is likely to see strong upmove from here.
Hindalco: The stock rose about 4.44% and closed near the day’s high. Throughout the day, it remained positive, and volumes continued to build. It closed above prior swing high and volume turned out to be above average, which is a positive sign. Volume shot up towards the end and is about 3-times the previous day’s volume. With such high volume trading, the stock is likely to be under traders’ watchlist.
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