These stocks see huge volume burst in the last leg of the trading session!
Bombay Burmah Trading Corporation, CCL Products, and Dixon Technologies 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.
Bombay Burmah Trading Corporation: The stock was trading mildly positive the entire day and witnessed a great buying momentum towards the end of the session. In the last 75 minutes, the stock surged nearly 2% before receding a little from the day’s high. During this period, the stock recorded over 70% of the total day’s volume. With such strong price action and rising volumes, the stock is expected to produce huge swings in near future.
CCL Products: The stock skyrocketed about 8.47%, breaking all the near-term resistances. The stock traded fairly positive, but an explosive buying spree was witnessed in the final hour of the session. The stock rose about 8% in this time with rising volumes. Such huge volume is attributed to the institutions that took positions in this stock. With 90% of the day’s volume recorded in the final hour, it is expected that the stock will carry momentum will comings days.
Dixon Technologies: The stock rose about 3.58% and closed at day’s high. Majority of the gains were achieved during the last 75 minutes where the stock surged over 2.5%. Moreover, this was accompanied by huge volume which was almost 50% of the total daily volume. With strong price action and rising volumes, one can expect the stock to be significantly traded in times to come.
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