These stocks witness huge volume burst in the last leg of the trading session!
CDSL, Century Textiles, and ERIS have witnessed 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.
Century Textiles: The stock gained about 9.5% on Thursday. After a huge gap-up, the stock continued its forward march and surged above its 20-DMA. Towards the end, the stock recorded over 50% of the day’s volume in the last 75 minutes. It recorded above-average volume, which was greater than 10-day and 30-day average volume. With such volume, it is expected that stock shall be traded heavily in times to come.
ERIS: The stock rose steadily and ascended 9.68% at the end of the day. It witnessed a rise in volume towards the end of the session. About 60% of the daily volume was recorded in the last hour which demonstrates heavy buying. With this, the stock is expected to trade positively in the coming days.
CDSL: The stock of CDSL skyrocketed over 7% today. After a decent gap-up, the stock continued to climb higher, recording above-average volume during the period. In the last hour of the trade, the stock gained about 4.2% and recorded nearly about 50% of the total day’s volume. With such strong trading activity, the stock is expected to continue its bullish momentum for some more time.
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