These stocks witness a huge volume burst in the last leg of the trading session!
IDBI, Tanla Platforms Ltd and Stove Kraft 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.
IDBI Bank Ltd: On Thursday, this stock (NSE Symbol: IDBI) rallied 9.77%. Nearly 29.25 million shares were traded, in which more than 50% 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 26DMA and closed around the day high. It is given a breakout from trend reversal formation on daily charts and is expected to remain positive in the upcoming days.
Tanla Platforms Ltd: The scrip (NSE Symbol: TANLA) traded positively in the afternoon session and gained 3.89%. 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 from its previous consolidation zone and witnessed a follow-up buying of technical breakout on daily charts which makes it attractive. Given such positivity, it is expected to be on traders’ radar for times to come.
Stove Kraft Ltd: (NSE Symbol: STOVEKRAFT) The stock soared about 6.63% during the day. Strong buying emerged from the morning session with an excellent volume recorded in Thursday’s session. It formed a strong bullish bar and closed near its previous swing highs to its 26 DMA in the consolidation zone. This Closing above all short-term key moving averages indicates strong momentum, it is likely to be in focus for upcoming days.
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