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

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

by 5paisa Research Team Last Updated: May 02, 2023 - 04:40 pm 495 Views
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KEC International Ltd, RITES Ltd and Cochin Shipyard 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.      

KEC International Ltd: The stock surged 8.29% on Tuesday. Interestingly, volume stood above average and greater than the 50-day average volume. More than 2.13 million shares were traded on this day and more than 60% volume was traded in the last 75 minutes. The stock is trading in a range and closed at the higher side of the range. Follow-up buying can be expected until today’s low is protected. The stock will gain more strength if it sustains above today’s high in the upcoming days.

RITES Ltd: The stock traded positively throughout the day and gained 7.55% with volumes of 3.82 million shares and it jumped more than 2.5% and recorded good volumes in the last 5 minutes. About 50% of the total daily volume was recorded during this period. The stock traded upward after it registered a breakout of the continuation 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.

Cochin Shipyard Ltd: The stock soared about 6.30% during the day. Strong buying emerged in the afternoon session where it nearly jumped 3.70% more than the 60% volume recorded in the last 75 minutes of the day. Stock has been trading in an upward-sloping channel on a daily time frame from last month, now it closed above this channel range and registered a breakout of a trend reversal price pattern along with a 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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