T20 breakout stocks: Best swing trading stocks to keep an eye on!
After consolidating for the past six days, Nifty index finally witnessed a six-day breakout and logged a fresh all-time. It closed above the 17,500 mark with gains of 0.80 per cent.
Top five major contributors to the index include Infosys, TCS, Bharti Airtel, ICICI Bank, and State Bank of India.
Among the sectoral indices, Nifty PSU Bank was the top gainer as it gained more than 2.5 per cent, which was followed by Nifty IT as it advanced 1.82 per cent.
Nifty Midcap 100 outperformed the frontline gauge as it gained a little over 1 per cent while Nifty Smallcap 100 added 0.65 per cent.
Since the index has broken out of six-day consolidation, we have witnessed nearly 20 stocks in the T20 breakout system. However, we are not listing out all the stocks here but rather handpicking some of them.
So, here is the list of stocks:
Balmer Lawrie & Company: The stock has met the criteria of the T20 breakout system. Interestingly, it recorded more than 50 per cent of the volume in the first half of the trading session and also, closed near its day’s high.
GMR Infrastructure: The stock has managed to close near its day’s high while volume for the day was the highest since the last two months. Hence, keep a close watch on this stock.
HeidelbergCement India: The stock had witnessed a trending day on Wednesday and also, closed near the day’s high along with a rise in the volume. Hence, traders can monitor this stock.
Indian Bank: The stock has gained over 4 per cent along with a rise in volume. Moreover, good volume activity was seen in the second half of the trading session. Hence, keep a watch on this stock.
NTPC: The stock has made its way into the list as it closed above the 20-day high while volumes are higher in the last 20 days. In addition to this, the stock has witnessed a breakout of the flat base pattern.
Titan Company: The stock has closed at fresh all-time highs and met the criteria of the T20 breakout system. Hence, keep a close watch on this stock.
Punjab National Bank: The stock has made its way into the list as it closed above the 20-day high while volumes are higher in the last 20 days. Traders can keep a watch on this stock.
Zensar Technologies: The stock had a perfect trending day as it closed at the upper circuit limit of the day. It has met the criteria of the T20 breakout system; hence, monitor this stock.
Tata Power: The stock met the criteria of the T20 breakout system and also, witnessed a breakout of the flat base pattern.