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

resr 5paisa Research Team

Last Updated: 6th April 2023 - 06:00 pm

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Ashoka Buildcon Ltd, First Source Solutions and HG Infra Engineering Ltd have witnessed 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.  

Ashoka Buildcon Ltd: The stock surged 9.05% on Thursday. Interestingly, volume stood above average and greater than the 25-day average volume. Nearly 3.36 million shares were traded today. The stock engulfed the last 2 weeks’ move and closed around the day’s high. It also closed above the previous swing high. This action formed a Bullish morning star 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.

First Source Solutions: The stock traded positively throughout the day and gained 5.28% with massive volumes of 2.31 million shares and closed above All short-term and long-term moving averages. In the afternoon session, it jumped more than 3% in the last 75 minutes and recorded good volumes. About 50% of the total daily volume was recorded during this period. The stock rebounded from previous multiple swing lows to close above the 200 DMA on daily charts and registered a breakout of a Bullish wedge 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.

HG Infra Engineering Ltd: The scrip soared about 6.44% during the day. Strong buying emerged from the morning session where more than 60% volume was recorded in the second half of the day. Today stock made a new life time high and also closed around it. It formed a Bullish bar on daily charts by closing around the day high. Total volumes of the day are higher than the last 30-day above-average volumes, it is likely to be in focus for upcoming days.

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