These stocks witness a huge volume burst in the last leg of the trading session!
Greaves Cotton, Nazara Technologies, Rane Engine Valve 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.
Greaves Cotton: The stock surged 7.53% during Wednesdays’ trading session. It continued to trade higher throughout the day as witnessed strong buying interest towards the end. The stock jumped over 3% in the last hour and recorded above average volume. Multifold volume was recorded on the daily timeframe, thus indicating fresh buying interest from the market participants. The stock is expected to trend higher given such elevated volumes.
Nazara Technologies: The stock registered a strong price volume breakout as it soared over 5% on Wednesday. It traded flat for most part of the day but witnessed sharp buying in the latter half of the session. The stock gained nearly 4% in the last 75 minutes. Moreover, the daily volume was found to be greater than 30-day and 50-day average volume. Such high volumes are likely to attract traders in times to come.
Rane Engine Valve: After a steep downtrend, the stock witnessed strong buying interest at lower levels as it climbed 4% on Wednesday. Most of the action was concentrated in the last hour when the stock shot up 3.50%. The volumes are high and thus validate the positive price action. It formed a strong bullish candle on the technical chart and is likely to be under traders’ radar for next week.
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