These stocks witness huge volume burst in the last leg of the trading session!
Crompton Greaves, CSB Bank, and Glaxo SmithKline 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.
Crompton Greaves: The stock gained over 2.5% on Tuesday. It traded in negative for most of the time but received strong buying interest at lower levels towards the end. The stock jumped over 3.5% in the last 75 minutes of the trade and recorded huge volume during the process. The volume is found to be greater than 10-day and 30-day average volume. The stock has formed a bullish engulfing pattern and with such huge volume, the stock is likely to be traded heavily with positivity in upcoming days.
CSB Bank: The stock surged about 9.35% on Tuesday. It traded negative throughout the day except for the last hour where it gained nearly 3.50%. During this period, the stock recorded about 50% of the total day’s volume. Thus, the strong buying has caused the stock to rise massively towards the end and with stock forming a bullish engulfing pattern on the technical chart, it is expected to be traded with bullish bias for upcoming days.
Glaxo SmithKline: The stock soared by a massive 9.35% on Tuesday. It rose steadily as the day progressed and volumes continued to build. The volume is greater than 10-day, 30-day and 50-day average volume, demonstrating larger trading activity in the last hour, the trading intensified and nearly 50% of the total day’s volume was recorded. With such strong price action, the stock is likely to be traded heavily in times to come.
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