These stocks witness a huge volume burst in the last leg of the trading session!

These stocks witness a huge volume burst in the last leg of the trading session!

by 5paisa Research Team Last Updated: Mar 03, 2023 - 04:38 pm 858 Views
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Fertilizers & Chemicals Travancore Ltd, Honda India Power Products Ltd and Union Bank 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.  

Fertilizers & Chemicals Travancore Ltd: On Friday, this stock (NSE Scrip Code: FACT) rallied 4.59%. Nearly 5.40 lakh shares were traded on Friday where more than 60% volume came in last 75 minutes. This volume is one of the highest compared to last 13 trading sessions. The stock is near to its technical breakout level & rebounded today from previous 3 days trend line support to close above the 10DMA and is expected to remain positive in the upcoming days.

Honda India Power Products Ltd: The scrip (NSE Scrip Code: HONDAPOWER) traded positively throughout the day and gained 7.57%. Volume stood above average and greater than the 30-day average volume which was the highest from January 2023. Interestingly, 56 lakh shares were traded at the end of the day. The stock has bounced from its 200DMA by forming trend reversal price pattern on hourly charts which makes it attractive. Given such positivity, it is expected to be on traders’ radar for times to come.

Union Bank of India: (NSE Scrip Code: UNIONBANK) the stock soared about 8.34% during the day. Strong buying emerged from the morning session with an excellent volume of 40 lakh shares in Friday’s session. It formed a strong bullish engulfing candlestick pattern on weekly charts from the previous swing low support. It has closed above all short term key moving averages and indicates strong momentum. It is likely to be in focus for upcoming days.

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