These stocks witnessed a huge volume burst in the last leg of the trading session!
Poly Medicure Ltd, EIH Ltd and Asahi India witnessed a 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.
Poly Medicure Ltd: On Tuesday, this stock (NSE Scrip Code: POLYMED) rallied 4.79%. With this it engulfed last day's candle and closed above last 7 days high. Nearly 1.23 lakh shares were traded where more than 70% volume came in last 75 minutes. This volume is above the average of last 30 days. The stock is near to its technical breakout level of continuation pattern and is expected to remain positive in the upcoming days.
EIH Ltd: The scrip (NSE Scrip Code: EIHOTEL) traded positively throughout the day and gained 7.57%. Total volume of the day was 8 lakh shares. Interestingly, 4.42 lakh shares traded, thus stock rallied around 2 per cent in the last 75 minutes. The stock closed above its 200DMA; next resistance will be falling downward trendline. Follow-up buying may surpass this resistance and it is expected to be on traders’ radar for times to come.
Asahi India: The stock (NSE Scrip Code: ASAHIINDIA) soared about 2% during the day. Strong buying emerged from the morning session with an excellent volume. It formed a strong bullish Harami candlestick pattern on daily charts after it bounced from the previous swing low support in today’s session. Closing above all short term key moving averages indicates strong momentum, it is likely to be in focus for upcoming days.
Share Market Today
|Indices Name||Price||Price Change (% change)|
|S&P ASX 200||7073.20||-14.1 (-0.2%)|
|CAC 40||7344.67||41.22 (0.56%)|
|Dow Jones||36245.50||294.61 (0.82%)|
|FTSE 100||7537.28||72.65 (0.97%)|
|Hang Seng||16855.83||-168.79 (-0.99%)|
|US Tech 100||14298.26||118.3 (0.83%)|
|Nikkei 225||33431.51||-55.38 (-0.17%)|
|S&P 500||4594.63||26.83 (0.59%)|
|Gift Nifty||20490.00||160.5 (0.79%)|
|Shanghai Composite||3031.64||1.97 (0.07%)|
|Taiwan Weighted||17438.35||4.5 (0.03%)|
|US 30||36261.00||317.9 (0.88%)|
About the Author
DisclaimerInvestment/Trading in securities Market is subject to market risk, past performance is not a guarantee of future performance. The risk of loss in trading and investment in Securities markets including Equites and Derivatives can be substantial. Also, The
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