These stocks witness huge volume burst in the last leg of the trading session!
Bank of India, EIH Hotels, and HUDCO 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.
Bank of India: The stock surged nearly 5% and closed at a day’s high. Moreover, it has taken out its prior swing high with larger volumes. The stock traded firmly in green for the entire day. The last hour saw an amazing rally of about 3%. This price action was accompanied by above-average volume. About 60% of the total day’s volume was recorded in this hour. With such bullishness, the stock is expected to be surging higher with increasing volume in times to come.
EI Hotels: The stock soared about 1.61% on Wednesday. It was volatile throughout the day but witnessed a huge buying interest at lower levels. The stock rallied about 2.5% in the last 75 minutes. During this period, huge volume was recorded that was greater than 10-day and 30-day average volume. With a huge number of shares being exchanged in the last hour, the stock is expected to be trading heavily in times to come.
HUDCO: The stock traded flat to positive for most of the time. Towards the end, the stock made volatile moves and moved in both directions. It is up by about 1.70% and has recorded above-average volume today. About 50% of the daily volume was recorded in the final hour. With the stock expressing a surge in volume, the stock is likely to be traded heavily in times to come.
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