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 23, 2023 - 06:25 pm 323 Views

JK Tyre & Industries, Ingersoll Rand and Pearl Global Indus 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 Tyre & Industries: On Thursday, this stock (NSE Scrip Code: JKTYRE) rallied 11.79%. Nearly 11.87 million shares were traded, in which more than 60% volume came in the last 75 minutes. This volume is one of the highest compared to the last 30 trading sessions. The stock rebounded from the previous swing low to close above the 200DMA which made a double bottom kind of formation on daily charts and is expected to remain positive in the upcoming days.

Ingersoll Rand: The scrip (NSE Scrip Code: INGERRAND) traded positively throughout the day and gained 3.62%. Volume stood above average and greater than the 10-day average volume which was the highest in the last few weeks. The stock has rallied in its previous consolidation zone about to give a technical breakout from the consolidation pattern on daily charts which makes it attractive. Given such positivity, it is expected to be on traders’ radar for times to come.

Pearl Global Indus: (NSE Scrip Code: PGIL) The stock soared about 5.69% during the day. Strong buying emerged in the afternoon session with an excellent volume recorded in Friday’s session. It formed a strong bullish bar and closed above its previous swing highs from the consolidation zone. This closing above all short-term key moving averages indicates strong momentum and will be in focus for upcoming days.

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