These stocks witnessed a huge volume burst in the last leg of the trading session!
Vimta Laboratories Ltd, Pricol Ltd and Everest Industries 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.
Vimta Laboratories Ltd: On Tuesday, the stock (NSE Scrip Code: VIMTALABS) rallied 7.25%. With this, it engulfed the last 7 day's candles on daily charts and closed above the last 20 days' high. The volume is above the average for the last 20 days. and today more than 70% volume came in the last 75 minutes. The stock has bounced from its recent swing low and is expected to remain positive in the upcoming days.
Pricol Ltd: The scrip (NSE Scrip Code: PRICOLLTD) rallied 6.23% and the total volume of the day was 6.4 lakh shares. Interestingly, more than 5 lakh shares traded in the last 75 minutes, thus stock rallied around 6%. The stock bounced from 200DMA, while today's candle engulfed the last 5 days' trading action. Follow-up buying may surpass the previous swing high and it is expected to be on traders’ radar for times to come.
Everest Industries: The stock (NSE Scrip Code: EVERESTIND) soared about 5.96% during the day. Strong buying emerged from the morning session with an excellent volume. It formed a strong bullish island reversal candlestick pattern on daily charts after it bounced from the previous multiple swing low supports backed by 200DMA 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.
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