These stocks witness a huge volume burst in the last leg of the trading session!
Indian Overseas Bank, Cochin Shipyard, and Torrent Power 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.
Indian Overseas Bank: Most of the gains emerged in the second half of the session when the stock shot up nearly 5% amid strong buying interest in the PSU Banks. The volume recorded by the stock has been massive and above average. It closed above all its key moving averages and is in a strong bullish trend. With such strong price action, the stock is expected to be traded heavily in times to come.
Cochin Shipyard: After a few days of consolidation at higher levels, the stock soared 4.78% backed by huge volume. Fresh buying interest has been seen as evident from the rise in volume. It has closed just below its all-time high level, and with a such strong trend, we can expect it to take out this level any time soon.
Torrent Power: The stock surged higher by over 4% at the end of the day. The volume was found to be greater than the 10-day, 30-day, and 50-day average volume. The stock has witnessed strong buying interest after forming a base at lower levels. With good price action and volumetric strength, the stock is likely to move higher in the upcoming days.
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