These stocks witness a huge volume burst in the last leg of the trading session!
Mazagon Dock Shipbuilders, Jindal Saw Limited, and General Insurance Corporation of India 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.
Mazagon Dock Shipbuilders: The stock rallied nearly 6% on Monday amid strong buying interest. After a steep correction of about 25% from its all-time high, the stock has seen fresh buying interest as volumes stood above average. In the last 75 minutes, the stock jumped over 5% and recorded about 60% of the total day’s volume. The momentum is strong, and the stock is expected to remain positive as volumes are elevated.
Jindal Saw Limited: The scrip is in a strong uptrend and has marked a fresh 52-week high level. The volumes are massive and greater than the 50-day average volume. The volumes continued to rise as the session progressed and the stock closed nearly at the day’s high. We expect the bullish momentum to continue in the near term.
General Insurance Corporation of India: This stock formed a strong bullish bar on the technical chart as it soared over 5% during Monday’s trading session. Most of the action was concentrated in the last hour when the stock witnessed strong buying interest at lower levels. About 50% of the total day’s volume was recorded during this period. The Relative Strength of the stock is strong and is expected to outperform the broader market in times to come.
Share Market Today
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