These stocks witness a huge volume burst in the last leg of the trading session!
Gujarat Alkalies & Chemicals Ltd, Hindustan Zinc Ltd, and Finolex Cables have 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.
Gujarat Alkalies and Chemicals Ltd: The stock witnessed strong buying interest in the last 75 minutes of the trade as it shot up over 10% during this period. The volumes emerged to be huge and above average, indicating institutional activity. Meanwhile, the stock closed on a higher note and crossed above its prior swing high. With such positivity, it is likely to be on traders’ radar in the upcoming days.
Hindustan Zinc Ltd: Despite trading flat for most of the day, it rose strongly towards the end as it registered about a 7% gain. The daily volume was found to be greater than the 10-day, 30-day, and 50-day average volume. It crossed above its 20-DMA, 50-DMA and now 100-DMA. It has broken out from its falling trendline and is likely to trade higher with stronger volumes in times to come.
Finolex Cables: The scrip surged 5.21% on Tuesday and volumes continued to build the entire day. It climbed over 2% in the last hour and about 50% of the day’s volume was recorded during this period. On the technical chart, it has formed a series of higher highs and higher lows, which is a bullish pattern. It has crossed above its 200-DMA decisively with heavier volumes, which is a likely indication of strong moves to come in near future.
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