T20 breakout stocks: Best swing trading stocks to keep an eye on!
On the final trading session of the week, Nifty ended with modest gains of 0.20 per cent as in the last hour of the trading session, we saw some profit booking. Meanwhile, a divergent trend was seen in the broader market with Nifty Midcap 100 adding 0.17 per cent while Nifty Smallcap 100 ended in the red.
We believe that going forward, the stock-specific action is likely to continue on D-Street. 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:
Alkyl Amines Chemicals: The stock gained nearly 4.6 per cent. What’s more interesting is that the stock made a huge move in the first hour of the trade as more than 50 per cent of the volume was witnessed in a single hour and thereafter, the price moved within the range of the first-hour bar. Hence, this would be an interesting stock to watch out for.
ITC: On Thursday, it was Bharti Airtel, and today, yet again a surprising name has appeared on this list and that is ITC. The stock has witnessed one of the strongest bullish candles in recent time. The stock is scheduled to report its earnings on July 24.
Bajaj Electricals: The stock, after moving sideways for a long time, has appeared in T20 breakout system and the volume activity is also quite interesting as the stock witnessed good volume in the first as well as the last hour of the trade.
Caplin Point Laboratories: The stock was on a merry ride as it witnessed gains of over 6 per cent and furthermore, it closed near its day’s high.
Intellect Design Arena: The stock has witnessed a nice breakout phase while the huge jump in volume confirms that buying interest is seen at the breakout levels.
JSW Energy: The stock has recorded double-digit gains and volume too has been on the higher side. Hence, this stock could be in action.
KPIT Technologies: Even though the stock had come off from its day’s high yet it recorded its best closing.
Schaeffler India: The stock meets the criteria of the T20 breakout system.
Sun Pharma Advanced Research: The stock marked a fresh 52-week high on Friday and has closed near its day’s high.