These stocks see huge volume burst in the last leg of the trading session!
Aditya Birla Fashion and Retail Limited (ABFRL), Elgi Equipments, and Gujarat Gas 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.
ABFRL: The stock closed higher by 2.28% when the overall market sentiment was bad. It traded flat to negative the entire day but shot up nearly 2.5% in the last 75 minutes. This buying spree can be attributed to the institutions which traded actively in the stock. The volume recorded during this period is 70% of the total daily volume. With the above-average volume recorded today, the stock is expected to be traded heavily in times to come.
Elgi Equipments: The stock surged over 4% on Thursday. It traded firmly in the green, and the volumes surged as the day progressed. The stock scaled higher about 3% in the last hour with the highest volume recorded in an hour. Moreover, it ended the session near the day’s high which suggest that the stock is bullish for upcoming days. The stock showed no signs of weakness the entire day and with above-average volume recorded, the stock is expected to be actively trading for the coming days.
Gujarat Gas Limited: The stock formed a strong bullish candle where open=low and close=high. The stock gained as much as 4.19% during the day. The stock soared higher as the day progressed and market participants participated actively in the stock as above average volumes have been recorded today. With such strong bullish momentum, one must not be surprised if it surges strongly in the coming days.
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