T20 breakout stocks from textile sector: Best swing trading stocks to keep an eye on!
Indian markets were under pressure from the word go during Wednesday’s session and the selling pressure exaggerated as the day progressed. However, in the second half of the trading session, a smart recovery from the lower levels was seen and Nifty trimmed the bulk of its losses to end the day with a marginal loss of 37 points. Two things were noteworthy in today’s session: The first was, recovery from lower levels, while the second was, the move in textile sector stocks.
Stocks from the textile sector were on top of the world in Wednesday’s trading session as many of them witnessed a jump of double-digit. Considering this, we are doing a special article on textile stocks, which have witnessed breakout based on ‘Twenty-20 breakout system’.
So here is the list of breakout stocks from the textile sector:
Dollar Industries: The stock had witnessed a massive run-up in the first hour of the trading session with almost 70 per cent of the day’s range covered in the first hour. It was followed by a consolidation wherein, the stock did not breach the level of 50 per cent of the first-hour candle; thereby, suggesting that the stock is taking a back seat after a strong upmove initially and could see good momentum once it has moved above the day’s high in the coming session.
Nagreeka Exports: The stock got locked at an upper circuit and volumes too were on the higher side, which indicates buying interest in the stock.
Pearl Global Industries (PGIL): The stock made a fresh high got locked at 10 per cent upper circuit and the volumes recorded were greater than the past 20 trading sessions.
Trident: Trident, being one of traders’ favourite stocks, also got locked at the upper circuit limit of 5 per cent during Wednesday’s session.