These stocks witness huge volume burst in the last leg of the trading session!
Alkem Laboratories, CESC, City Union Bank 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.
Alkem Laboratories: The stock gained about 1.54% at the end of the day. It traded flat during the initial hours, but witnessed strong buying interest towards the end. The stock surged nearly a percent in the last hour and recorded huge volume during the process. Nearly 55% of the total day’s volume was recorded in the last 75 minutes which indicates towards strong institutional activity in the stock. The stock closed at day’s high, and it is expected that the stock shall continue to be traded heavily in times to come with a positive bias.
CESC: The stock soared about 0.94% on Tuesday. It traded negative for most part of the day and received strong buying interest at lower levels. The stock shot up nearly a percent in the final hours and recorded above average volumes. The volumes continued to build as the stock gained momentum, indicating a long buildup. Thus, the stock is likely to be trading positive in coming days.
CUB: The stock recovered smartly from its low and closed in positive at the end of the day. The last hour witnessed strong buying in the stock, as it gained nearly 1% amid volatility. The stock formed a hammer-like candle, demonstrating positive sentiment. Thus, the stock is likely to perform better in upcoming trading sessions.
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