These stocks see huge volume burst in the last leg of the trading session!
Ajanta Pharma, CCL Products, and CoForge 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.
Ajanta Pharma: The stock of Ajanta Pharma witnessed high volatility in the initial one hour and then consolidated in the narrow range. In the last 75 minutes, the stock shot up nearly 1% before receding a little and finally ended up by 1.4%. What is interesting to note is that a huge volume was recorded towards the end. The stock is taking support at its 200-DMA and looks for a reversal. After today’s huge volume, we might see some more trading action in this stock in times to come.
CCL Products: The stock is up by 1.83% today. It opened quite higher but was unable to close above today’s opening price indicating selling pressure. The stock traded flat today and gained some points towards the end. About 65% of the total daily volume was recorded in the last 75 minutes. With rising volumes, one can see the stock being traded heavily in the coming days.
Coforge: The stock is up by more than 1.5% today. It traded negatively the entire day but showed a splendid recovery towards the end. The stock gained about 3.5% in the last 75 minutes. Along with this, it recorded huge volume during this period which suggests institutional buying. It has been consolidating for the past week and is currently trading near its 20-DMA. Considering strong volume and price action, we can see this tock to ride higher in upcoming days.
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