T20 breakout stocks: Best swing trading stocks to keep an eye on!
What a day it was for the bulls on D-Street! Nifty gained about 1.23 per cent for the day while the market breadth was also in favour of advances with a wide margin as 41 stocks of Nifty 50 ended in the green. Party was seen in the broader market as well with Nifty Midcap 100 and Smallcap 100 gaining 1.14 per cent and 1.47 per cent, respectively.
The momentum is back in the market and we expect the bulls to continue their momentum on Friday as well. Hence, we have chalked out a list of stocks that may see some good action in the near term.
An important point to note here is that these stocks are filtered using price action and volumes. Volume was greater in the last 20 days while the price closed at a 20-day high. We have named it as ‘Twenty-20 breakout system’.
So here is the list:
Bharti Airtel: Surprisingly, the name of this stock appeared for the first name in this list in recent time. The stock has managed to close near its day’s high and moreover, the volumes since the afternoon trade in the stock kept surging. Hence, this stock demands more attention.
Jindal Stainless (JSL) & Jindal Stainless (Hisar): JSL hit the upper circuit while JSL Hisar is also witnessing good buying interest. Both these stocks appeared in the system on the same day, indicating some tailwind for these stocks lined up in the near future.
Jubilant FoodWorks: The stock was on cloud nine after reporting better-than-expected performance in its quarterly results.
Mazagon Dock Shipbuilders: The stock recorded astonishing volumes since the afternoon trading session as it closed near its day’s high.
Manappuram Finance: The stock registered a fresh 52-week high on Thursday. In addition to this, its chart is also looking quite promising!