These stocks witness a huge volume burst in the last leg of the trading session!
Muthoot Finance, Rites, and Mazagon Dock Shipbuilders 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.
Muthoot Finance: The stock surged about 5.84% on Tuesday. It traded higher throughout the day and volumes rose as the day progressed. In the last 75 minutes of the trading session, it jumped nearly 2%. Moreover, Volumes rose for third consecutive day which is a positive sign. With positivity emerging towards the end, the stock is likely to be treated with positive bias in upcoming days.
Rites: The stock skyrocketed nearly 5% in Tuesday’s trading session. It is consolidating at higher levels and volumes have been good lately, which indicates accumulation of the stock. Most of the gains emerged in the last hour when the stock shot up 2%. We expect the stock to be on the trader’s radar for a few more days.
Mazagon Dock Shipbuilders: The stock bounced from its 20-DMA with huge volume amid strong buying interest. Interestingly, it saw strong buying at lower levels, and has risen about 9% from its day’s low. About 50% of the total day’s volume was witnessed in the last hour. moreover, the stock closed at day’s high which is a positive sign. Overall, we can expect the stock to remain positive in times to come.
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