These stocks witness a huge volume burst in the last leg of the trading session!
JK Paper Ltd, Kalyan Jewellers IND Ltd and Rajesh exports 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.
JK Paper Ltd: The stock bounced from the previous support zone of consolidation and rallied 9.85% on Friday. Interestingly, such a strong surge was backed by massive volume. Nearly 3.89 million shares were traded on Friday which was among the highest in many days. The volume turned out to be greater than the 50-day average volume. It closed around the day high exactly on 200 DMA and engulfed the down move of the last 3 trading sessions, thus it is expected to remain positive in the upcoming days.
Kalyan Jewellers IND Ltd: The scrip traded positively throughout the day and gained 9.68%. In the last 75 minutes, it jumped nearly 6.27% and recorded good volumes. More than 70% of the total daily volume was recorded during this period. Interestingly, strong buying activity is witnessed near its technical breakout level, which makes it an ideal candidate for trading. Given such positivity, the stock is expected to be on traders’ radar for times to come.
Rajesh Exports: The stock soared about 5.46% during the day. Strong buying emerged from the morning session and more than 60% volume was recorded in the second half of the day. It formed a strong bullish bar and closed just below the 200 DMA. After continuous hammering from the last few sessions, it bounced from recent lows with above-average volumes, it is likely to be in focus for the next few days.
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