T20 breakout stocks: Best swing trading stocks to keep an eye on!
Bulls have finally managed to cross the level of 16,000, which seemed to be a Herculean task for them to achieve for the last month or so, and recorded a fresh all-time high level of 16,050. Unlike the recent past, showstoppers on this historic day were the large-cap stocks. Meanwhile, the broader markets remained subdued as Nifty Midcap 100 and Smallcap 100 witnessed profit booking.
Interestingly, after so many weeks, large-cap stocks have started appearing in the T20 breakout system.
So here is the list of stocks:
Cummins India: The stock witnessed good buying interest in the first couple of hours of the trading session and thereafter, it turned sideways. However, in the last leg of the trade, the buying interest reemerged along with a huge spike in the volume. Interestingly, more than 50 per cent of the volume was seen in the latter part of the trading session.
Dabur: Nifty FMCG gained nearly 1.71 per cent on Tuesday and Dabur was the only stock that witnessed good buying interest along with the best closing.
JK Tyre: The stock has recorded its best single-day gains in the near term. It witnessed buying interest throughout the trading session and the testimony of this is that the stock has formed a sequence of higher highs & higher lows in the lower timeframe. Furthermore, the stock has also witnessed a breakout of a flat base pattern.
Minda Industries: The stock registered good volumes in both parts of the trading session i.e. the first as well as the second half and also recorded its best closing ever.
Kajaria Ceramics: The stock recorded more than 2 lakh share volumes in the first hour of the trade and thereafter, it turned sideways but volumes again saw a spike along with the price in the last leg of the trade.
State Bank of India (SBI): The stock is scheduled to announce its quarterly earnings on August 4. It has also witnessed a breakout of a flat base pattern ahead of its earnings.
Solara Active Pharma Sciences: The stock has witnessed good activity in volumes in the second half of the trading session as more than 50 per cent of the volume was recorded in the second half.
Suven Pharmaceuticals: The stock gained over 7 per cent on Tuesday and it is one of the best single-day gains that it has registered in the near term. Moreover, the stock has also recorded its highest single-day volume since January 14, 2021.
Sterling & Wilson Solar: The stock witnessed interest in the first half of the trading session and thereafter, it turned sideways. However, given the fact that the stock has witnessed a breakout along with volume, it should be on your radar for swing trading.
Titan: The stock is scheduled to announce its earnings on Wednesday. Besides, recording a fresh high just before its earnings announcement suggests that the market participants are expecting some good announcements.