These stocks see huge volume burst in the last leg of the trading session!
Central Bank of India, Grindwell Norton, and Indian Overseas Bank 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.
Central Bank of India: The stock has surged about 3.78% on Friday. It was hugely volatile today, having made swings in both directions. The stock traded fairly in red throughout the day, except in the last 75 minutes, where it gained over 6% before receding. This period recorded about 87.5% of the total day’s volume. With huge buying towards the end of the session, it is expected that the stock might be in action for upcoming days.
Grindwell Norton: The stock ended the day marginally higher and it witnessed huge buying towards the end of the session. In the last 75 minutes, the stock gained almost 2% with huge volumes. About 64% of the total volume was recorded during this period. Moreover, the stock closed at the day’s high, indicating a possible upside. Thus, significant price action is expected in the coming days.
Indian Overseas Bank: The stock soared about 3% in Friday’s trading session. It traded negative for most of the time but surged in the last hour. The stock gained over 4% during this period along with huge volume. This indicates institutional participation in the stock, and it might be in focus for next week.
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