These stocks see huge volume burst in the last leg of the trading session!
Dilip Buildcon, Cholamandalam Investment and Finance Company and Finolex Cables 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.
Dilip Buildcon: The stock of Dilip Buildcon was going through a massive correction phase correcting as much as 22% from its recent high before rising 7.62% today. It took the support of its 50-DMA before bouncing back. The stock traded firmly in green throughout the day. But what’s interesting to note is that the volume witnessed during the last 75 minutes was approximately 67% of the total daily volume. The stock’s daily volume was much greater than the 10-day and 30-day average volume. Traders shouldn’t miss an opportunity in this stock.
Cholamandalam Investment and Finance Company: The NBFC stock gained 3.58% in the trading session that ended Friday. The stock is going strong for the last few days and closed at its record high. Most of today’s action came in the last one hour where it shot up around 2%. Above-average volumes have been recorded in the past few trading sessions. We suggest you keep this stock on your radar.
Finolex Cables: Finolex cables rose a decent 1.63% today owing to the bulls that supported the stock at lower levels during the last hour. The stock, as a matter of fact, was trading in red in the latter half of the session but then it shot up as much as 2% in the last 75 minutes. It is currently trading near a stiff resistance level of 510-515 which is tested multiple times. The volumes have increased in the past two trading sessions indicating more participation from the market participants. The stock can be an attractive trade for days to come.
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