These stocks witness a huge volume burst in the last leg of the trading session!

These stocks witness a huge volume burst in the last leg of the trading session!

by 5paisa Research Team Last Updated: Mar 16, 2023 - 06:15 pm 1.1k Views
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Hikal Ltd, Zee Entertainment Ent Ltd and Best agrolife Ltd 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.  

Hikal Ltd: (NSE CODE: HIKAL) The stock surged 8.81% today with massive volumes of 3.31 million shares were traded and more than 50% of its daily volume is recorded in last 75 minutes. The stock closed around previous swing high at Rs.311.25. After this action, stock engulfed last 15 days move on daily timeframe after the short term down trend. Which also a 61% retracement support of the previous rally. Suggesting follow-up buying in the next few trading sessions. 

ZEE Entertainment ENT Ltd: (NSE CODE: ZEEL) The scrip traded positively from the first hour candle in the morning and surged 9.34%. Around 22.58 million shares traded throughout the day, but more than 50% volume was recorded during the afternoon session. After a short-term downtrend, the stock has been rebounded from previous swing low on daily charts. Today's volume and chart structure indicates a fresh up move in upcoming days.

Best Agrolife Ltd: (NSE CODE: BESTAGRO) This stock is in short term down trend and trading just below the key moving average. The stock bounced around 3.69% in todays trading session and closed around Rs.1088. By this move it engulfed last 3 day’s candles in single candle only. More than 60% volume of the stock came in the second half of the day. Today’s closing near to day high formed a bullish island reversal candlestick pattern on daily timeframe. which indicates the start of a fresh rally with momentum. 

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