These stocks witness a huge volume burst in the last leg of the trading session!
JK Tyres and Industries, Godfrey Phillips, and Mahindra CIE Automotive 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.
JK Tyres and Industries: The stock closed at the day’s high and jumped 4.16%. Most of its gains came in the last hour when the stock jumped over 2%. About 50% of the total day’s volume was recorded during this period. The stock has formed a higher high on the daily technical chart, which is a positive sign. Going forward, it is expected to see positive momentum with rising volume.
Godfrey Phillips: The scrip rose for the third consecutive day and surged 5.14% today. During this period, the stock saw huge buying interest as volumes were found to be above average. The volume recorded on Friday was greater than the 30-day and 50-day average volume. Moreover, the stock is in a strong uptrend on the daily chart. With strong positives, it is likely to be on the traders’ watchlist.
Mahindra CIE Automotive: The stock climbed 6% on a volatile day. It traded flat for most of the day but saw strong buying activity towards the end. Massive volumes were recorded towards the end, which is a strong indication of institutional activity. The stock has hit a fresh 52-week high today and is likely to be trending strongly in times to come.
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