These stocks witness a huge volume burst in the last leg of the trading session!
Glenmark Pharmaceuticals Ltd, Zydus Lifesciences Ltd and Vardhman Textiles 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.
Glenmark Pharmaceuticals Ltd: The stock surged 2.99% on Monday. Interestingly, volume stood above average and greater than 10-day's average volume. More than 1.59 trillion shares were traded on this day. The stock closed around the day’s high and registered a range breakout. 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.
Zydus Lifesciences Ltd: The stock traded positively throughout the day and gained 2.75% with volumes of 1.72 million shares. In the afternoon session, it jumped nearly 2% and recorded good volumes. About 60% of the total daily volume was recorded during this period. Stock is trading in upward sloping channel and today it crossed the upper range of this channel on daily charts which makes it attractive breakout candidate. Given such positivity, it is expected to be on traders’ radar for times to come.
Vardhman Textiles Ltd: The stock soared about 3.82% during the day. Strong buying emerged in afternoon session where more than 50% volume recorded in the second half of the day. Stock broke the last 3 days consolidation range and registered a breakout of trend reversal price pattern on hourly charts. Closing around days high and last swing high makes it attractive for the short term, it is likely to be in focus for upcoming days.
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