These stocks witness a huge volume burst in the last leg of the trading session!
Jindal Stainless, KRBL Ltd and EIH 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.
Jindal Stainless: The stock was very volatile in the last 2 hours and recorded massive volumes. Around 48 lakh shares were traded in these 2 hours. Today’s daily volume is the highest volume compared to the last 2 months. The stock which is trading at life time high and above all short-term & long-term moving averages closed up by 3.69% today.
KRBL Ltd: The scrip traded positively throughout the day and gained 5.70%. It recorded a good up-move from the morning session but more than 50% of the total daily volume was recorded during the afternoon session. The stock has bounced from 200DMA with a breakout of a trend reversal pattern on ultra-short-term charts, which makes it attractive. Short-term moving average positive crossover indicates strong momentum in upcoming sessions as well.
EIH Ltd: This stock closed higher by 5.68% up today. It was steady movement in the morning session but in the afternoon, it started moving in the upward direction where more than 13 lakh shares were traded. On a daily timeframe, it bounced from recent swing lows supported by 200DMA and engulfed almost the entire fall from the budget day. Today’s total volume is one of the highest volumes from the last 6 months which indicates some more buying may come in upcoming sessions.
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