These stocks witness huge volume burst in the last leg of the trading session!
VIP Industries, Syngene International and Sona BLW Precision Forgings Ltd. 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.
VIP Industries: The stock soared about 1.91% despite weakness in the market. Initially, it traded negatively but saw a huge surge in the last 75 minutes of the trading session. The stock jumped over 8% during this period and recorded huge volumes. Such strong surge can be attributed to institutional investing, thus propelling the stock higher. It closed nearly at day’s high and with such positivity, it is expected to be traded with a positive bias.
Syngene International Ltd.: The scrip closed about 0.40% higher. With weak market sentiment, the stock opened gap-down and traded in red. However, it gained some upside momentum towards the end and rose about 1% towards the end. The volume rose as the day progressed. On the technical chart, it has formed a bullish candle and above average volumes were recorded. It is likely to be under trader’s radar for upcoming days.
Sona BKW Precision Forgings Ltd.: The stock closed flat amid volatility. Interestingly, the stock witnessed strong buying interest at lower levels which to which it gained about 1.70% in the last 75 minutes. Above average volumes were seen, and the stock closed nearly at day’s high. Also, it has formed a bullish candle for sixth consecutive day on the daily timeframe. It is above its 20-DMA and the technical parameters also indicate bullishness. The good buying interest emerging towards the end must be taken positively and we can expect the stock to trade higher in times to come.
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