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

resr 5paisa Research Team

Last Updated: 29th March 2023 - 06:34 pm

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Torrent Power, Bank of India and CSB Bank 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. 

Torrent power: The stock surged 4.96% on Tuesday. Interestingly, volume stood above average and greater than the 25-day average volume. Nearly 1.59 million shares were traded today. The stock engulfed yesterday’s move and closed around the day’s high. This action formed a Bullish engulfing candlestick pattern with volumes on daily charts. Follow-up buying can be expected until today’s low is protected. The stock will gain more strength if it sustained above today’s high in the upcoming days.     

Bank of India: The scrip traded positively throughout the day and gained 3.62% with massive volumes of 12.63 million shares. In the afternoon session, it jumped more than 3% in the last 75 minutes and recorded good volumes. About 60% of the total daily volume was recorded during this period. The stock rebounded from previous multiple swing lows which placed just above the 200 DMA on daily charts and formed a Bullish Island reversal kind of pattern on daily charts which makes it an attractive breakout candidate. Given such positivity, it is expected to be on traders’ radar for times to come.

CSB Bank Ltd: The stock soared about 4.09% during the day. Strong buying emerged from the morning session where more than 50% volume was recorded in the second half of the day. The stock rebounded from the 50% retracement support of the previous up move and is ready to give breakout from the continuation pattern on hourly charts. Total volumes of the day are higher than the last 30-day above-average volumes. It is likely to be in focus in upcoming days.

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