These stocks see huge volume burst in the last leg of the trading session!
Ujjivan Small Finance Bank, La Opala, and Spandana Sphoorty have witnessed a volume burst in the last 75 minutes of the trade.
As the saying goes, the first, as well as the last hour of each trading session, is the most important and active in terms of price & 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 the trade along with price rise, it is considered a 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 to medium-term.
So, based on this principle, we have shortlisted three stocks that have witnessed volume burst in the last leg of the trade along with price rise.
Ujjivan Small Finance Bank: The stock is in a medium-term strong uptrend and has surged over 5% on Thursday. Interestingly, volume turned above average and greater than 50-day average volume. Nearly 3 crore shares were traded on Thursday which is among the highest in recent period. With the stock closing at 52-week high levels we can expect the uptrend to continue in near term.
La Opala: The scrip closed above its crucial resistance level on Thursday after it surged 5.30% with massive volumes. It traded positively throughout the day and jumped over 3% in the last 75 minutes of the trade. Also, over 50% of the total day’s volume was recorded during this period. Such strong trading activity is expected to persist in upcoming sessions as well.
Spandana Sphoorty Financial Ltd: After many of consolidation, the stock has witnessed fresh buying interest at lower levels as it climbed 5% in the latter half of the session. Volumes rose for the fifth consecutive day, which indicates rising participation level in the stock. The stock crossed above its short-term moving averages and closed at day’s high. Such positivity is expected to continue for some more days.
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