These stocks witness a huge volume burst in the last leg of the trading session!
PNB Housing Finance, Hindustan Copper, and PFC 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.
PNB Housing Finance: The stock soared over 7% on the first trading day of the year. Throughout the day, the stock witnessed heavy buying interest and volumes continued to pile up. The daily volume stood greater than the 30-day and 50-day average volume and was also the highest in many days. The stock closed at a 52-week high level and is likely to be in action for times to come.
Hindustan Copper: The strong buying sentiment lifted the stock 6.50% and led to the day’s high closing. About 50% of the total volume was concentrated in the last 75 minutes of the trade as the stock continued to gather momentum. With positive closing and heavy trading activity, we expect it to test further levels in times to come.
PFC: The scrip gained about 6% today. It attracted buying interest from the market participants, which is evident from the above-average volumes recorded today. Interestingly, the volumes grew for the fifth consecutive day which thus shows strong buying interest from the market participants. Moreover, it has closed at a 52-week high and is expected to be on the buyer’s radar for a few more days.
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