These stocks witness a huge volume burst in the last leg of the trading session!
IRFC, SJVN and Varroc 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.
Varroc Engineering Ltd: The stock surged 5.23% on Tuesday. Interestingly, volume stood above average and greater than the 15-day average volume. More than 1 million shares were traded on this day and more than 60% volume was traded in the last 75 minutes. The stock closed just below the last swing high. 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.
IRFC: The stock traded positively in the last 75 minutes of the day and gained 4.23% with volumes of 165 million shares and it jumped more than 4% and recorded good volumes. About 50% of the total daily volume was recorded during this period. The stock traded upward after it registered a breakout of the trend reversal price 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.
SJVN: The stock soared about 4.05% during the day. Strong buying emerged in the afternoon session where more than 60% volume was recorded in the second half of the day. Stock broke the current month consolidation range and registered a breakout of the trend reversal price pattern along with the continuation pattern on daily charts. Closing around the day high and above the last swing high makes it attractive for the short term, it is likely to be in focus for upcoming days.
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