These stocks witness a huge volume burst in the last leg of the trading session!
Minda Corp Ltd, Sonata Software and Medicamen Biotech Ltd 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.
Minda Corp Ltd: The stock surged 6.69% on Wednesday. Interestingly, volume stood above average and greater than the 30-day average volume. Nearly 15.37 lakh shares were traded on Wednesday which was among the highest in the last 6 days. The stock engulfed in the last 6 days' move from the support of prior swing lows and is expected to remain positive in the upcoming days.
Sonata Software: The scrip traded positively throughout the day and gained 6.15%. In the afternoon session, it jumped nearly 5% with good volumes. About 60% of the total daily volume was recorded during this period. The stock has been in a medium-term uptrend, which makes it attractive. Given such positivity, it is expected to be on traders’ radar for times to come.
Medicamen Biotech Ltd: The stock soared about 7.3% during the day. Strong buying emerged from the morning session where more than 50% volume was recorded in the second half of the day. It formed a strong bullish bar from the trendline support of the last 2 years low. The stock registered a triple bottom kind of pattern breakout and with above-average volumes, it is likely to be in focus for upcoming days.
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