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

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

by 5paisa Research Team Last Updated: May 17, 2023 - 07:19 pm 563 Views
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Aster DM Healthcare Ltd, IDBI Bank Ltd and Mishra Dhatu Nigam 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.

Aster DM Healthcare Ltd: The stock surged 2.67% on Wednesday. Interestingly, volume stood above average and greater than the 15-day average volume. Nearly 4 lakh shares were traded and more than 60% volume was traded in last 75 minutes. The stock formed a rounding bottom formation on ultra-short-term charts, and it closed above the last swing high. Follow-up buying can be expected until today’s low is protected. The Stock would gain more strength if it sustained above today’s high in the upcoming days.       

IDBI Bank Ltd: The scrip traded positively in the morning session and later it became range bound in the mid-day session and again traded higher to close around the day’s high with gains of 6.29% with volumes of nearly 31 million shares. About 50% of the total daily volume was recorded in the last 75 minutes. 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.

Mishra Dhatu Nigam Ltd: The stock soared about 5.19% during the day. Strong buying emerged in the afternoon session where it nearly jumped 3.19% and more than 60% volume was recorded in the second half of the day. The stock registered the breakout of the trend reversal pattern daily time frame in the last trading session and today it witnessed strong follow-up buying which confirmed the breakout. Breakout of trend reversal makes it attractive for the upcoming sessions, it is likely to be in focus in upcoming days.

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