These stocks witness a huge volume burst in the last leg of the trading session!
Shipping Corporation of India, PNB Housing Finance and CSB Bank have witnessed 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.
Shipping Corporation of India: The stock surged 8.76% on Monday. Interestingly, such strong surge was backed by massive volume. Nearly 50 lakh shares were traded on Monday which was among the highest in many days. The volume turned out to be greater than 50-day average volume. The stock closed above its prior swing high and is expected to remain positive for upcoming days.
PNB Housing Finance: The stock trade positive throughout the day and gained 8.340%. In the last 75 minutes, it jumped nearly 3% and recorded good volumes. About 50% of the total days volume was recorded during this period. Interestingly, strong buying activity is witnessed from the past few days, which makes an ideal candidate for trading. Given such positivity, it is expected to be on trader’s radar for times to come.
CSB Bank: The stock soared about 7% during the day. Strong buying emerged in the latter half of the session when the stock recorded above average volume. It formed a strong bullish bar and closed at day’s high. The stock registered a 9-week cup pattern breakout and with above average volumes, it is likely to be in focus for upcoming days.
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