These stocks witness a huge volume burst in the last leg of the trading session!
New India Assurance Company Limited, Rajesh Exports and Grindwell Norton 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 a 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.
NIACL: The stock jumped 4.71% on Wednesday despite weakness persisting in the market. It traded higher amid strong volatility but witnessed a clear uptrend towards the end of the session. In the last hour, the stock recorded huge volumes, which stood at nearly 50% of the total day’s volume. The volumes have been massive lately and indicate strong buying sentiment. One can keep a close watch over this tock in upcoming trading sessions.
Rajesh Exports: The scrip surged about 3.67% supported by good volumes. The stock has attracted investors as evident from above average volumes. The daily volume was found to be greater than the 30-day and 50-day average volume, which generally indicates strong buying interest prevailing among the market participants for this stock. Most of the action was concentrated in the last 75 minutes when the stock soared over 4% backed by massive volume. Amidst such positivity, we can witness the stock trade with positivity in times to come.
Grindwell Norton: The stock gained 2.56% during Wednesday’s trading session. It has made a U-shaped recovery on the technical chart and volumes have been seen rising. It witnessed strong positive price action in the latter half of the session and closed near the day’s high. The stock formed 3 consecutive bullish bars with above-average volume, it is expected to see a strong movement in near future.
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