These stocks see huge volume burst in the last leg of the trading session!
Gujarat Alkali and Chemicals, RHI Magnesita, and Cholamandam Finance 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.
Gujarat Alkali and Chemicals: The stock has surged nearly 4% despite bad sentiment in the market. The stock strongly bounced back from 680 levels last trading session and continued the same momentum today. Rising volumes have been recorded in the last two trading sessions. Moreover, the RSI is in bullish zone. Thus, the stock is strong contender for gap-up tomorrow.
RHI Magnesita: The stock has soared over 5% on Thursday. The stock formed a bullish pin bar candle yesterday backed by huge volume. The momentum has been built up today and the stock is already trading at day’s high. Thus, the stock is expected to be bullish for next day.
Cholamandalam Finance: The stock has no effect of bad market sentiment as it continues to surge higher. It has surged about 6% today is already trading at day’s high. The stock has been recording higher highs since past few days and is now inches away from its all-time high. Moreover, The technical parameters have strongly backed the bullishness of the stock. With such bullish momentum, the stock is expected to be trading higher on Friday.
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