These stocks see huge volume burst in the last leg of the trading session!
Balrampur Chini Mills Ltd., Carborandum Universal Ltd., and Emami Limited 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.
Balrampur Chini Mills Ltd.: The stock gained a healthy 1.16% on Monday when the overall market was bleeding. The stock traded in negative the whole day except for the last 75 minutes where it shot up about 4.5%. Almost 50%of today’s volume came from the last hour of the session. The stock took support of its 200-DMA before bouncing back. The stock can be in trading radar for days to come.
Carborandum Universal Ltd.: The stock closed in 0.94% down. That’s still a better result considering how the market was reacting. The stock was trading in about 2% lower when some buying emerged towards the end. High volumes were recorded in the last 75 minutes which indicate institutional activity. As the stock nears its all-time high, it would be interesting to see how the stock performance given the bad market condition.
Emami Limited: Emami rose 2.83% on Monday with good volumes. The stock trades below its 200-DMA and has corrected quite significantly from its 52-week high. It made a strong bullish candle after a very long time near its 200-DMA as it looks for a reversal. The stock shot up nearly 4% in the latter half of the session and more than 60% of today’s volume was recorded during this period. Traders must watch this stock closely as we can see a sign of reversal.
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