These stocks witness a huge volume burst in the last leg of the trading session!
Everest Industries Ltd, Jindal Stainless Ltd and Network 18 Media 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.
Network 18 Media: The stock rallied 7.09% today from its support zone of 26 DMA with notable volumes in the last 75 minutes. It jumped more than 3.7% in this period and more than 60% volume of the day traded in the last hour. Today’s volume was one of the highest volumes compared to the last 30 days. Stock closed above the multiple tops at the lifetime high. Any closing above today’s high will confirm the breakout of the trend reversal price pattern which makes it attractive for the upcoming days.
Jindal Stainless Ltd: Scrip traded positive from the morning session and today from the support of 200 DMA it rallied to close 3% higher around the day’s high. In the last 75 minutes, it jumped nearly 3.2% and recorded good volumes. More than 60% of the total daily volume was recorded during this period. Interestingly, because of such strong buying activity, it made a high around last swing high and any close above today's high makes it an ideal candidate for trading. Given such positivity, the stock is expected to be on traders’ radar for times to come.
Everest Industries Ltd: The stock soared about 9.35% during the day. Strong buying emerged from the morning session and more than 2 lakh shares traded today in which more than 60% volume of the day was recorded in the last 75 minutes of the day. Stock is in medium term uptrend consolidating in a range and today it closed above this range on the daily timeframe. Follow-up buying may witness in the next few sessions as it registered a breakout of technical pattern, thus it is likely to be in focus for the next few days. Investors looking for opportunities in the infra sector can add this stock to their watchlist.
Share Market Today
|Indices Name||Price||Price Change (% change)|
|S&P ASX 200||7073.20||-14.1 (-0.2%)|
|CAC 40||7344.67||41.22 (0.56%)|
|Dow Jones||36245.50||294.61 (0.82%)|
|FTSE 100||7537.28||72.65 (0.97%)|
|Hang Seng||16855.83||-168.79 (-0.99%)|
|US Tech 100||14298.26||118.3 (0.83%)|
|Nikkei 225||33431.51||-55.38 (-0.17%)|
|S&P 500||4594.63||26.83 (0.59%)|
|Gift Nifty||20490.00||160.5 (0.79%)|
|Shanghai Composite||3031.64||1.97 (0.07%)|
|Taiwan Weighted||17438.35||4.5 (0.03%)|
|US 30||36261.00||317.9 (0.88%)|
About the Author
DisclaimerInvestment/Trading in securities Market is subject to market risk, past performance is not a guarantee of future performance. The risk of loss in trading and investment in Securities markets including Equites and Derivatives can be substantial.
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