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 23, 2023 - 09:28 pm 103 Views

TV18 Broadcast Ltd, Ingersoll-Rand (India) Ltd and Gujarat Ambuja Exports Ltd have witnessed volume bursts 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. 

TV18 Broadcast Ltd: The stock surged 7.50% on Tuesday. Interestingly, volume stood above average and greater than the 10-day average volume. More than 18.5 million shares were traded on this day and more than 60% volume was traded in the last 75 minutes. The stock formed a trend reversal pattern on daily charts and it closed just below the neckline of the breakout pattern. Follow-up buying can be expected until today’s low is protected. The Stock would gain more strength if it sustained above the neckline in the upcoming days. 

Ingersoll-Rand (India) Ltd: The stock traded range bound in the morning session and later it traded higher to close around the day’s high with gains of 5.69% with volumes above the average of 30 days. About 50% of the total daily volume was recorded in the last 75 minutes. It registered a breakout of the continuation price pattern named “Bullish Wedge” 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.   

Gujarat Ambuja Exports Ltd: The scrip soared about 4.61% during the day. Strong buying emerged in the afternoon session where it nearly jumped more than 3% and more than 60% volume was recorded in the second half of the day. The stock rebounded from the support of last swing lows which is also a trendline support from the month of June 2022. Today’s price action engulfed the down move of the last 5 trading sessions to touch 150 DMA and formed island reversal bullish candlestick pattern. Because of such positivity, it is likely to be in focus for the upcoming days. 

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