T20 breakout stocks: Best swing trading stocks to keep an eye on!
Jack and Jill, the protagonists of one of the famous nursery rhymes, seem to come alive for what happened in the markets on Friday. The 50-share index, Nifty, went up the hill in the initial phase of the session and was within a striking distance of touching yet another landmark of the 17,800 mark. However, all of a sudden, it tumbled in negative terrain at the end of the session. At one point in time, it declined more than 250 points from the day’s high. Besides, a mild recovery was seen in the dying hour of the trade, which resulted in it ending the day with a net loss of 45 points.
The broader markets underperformed with Nifty Midcap 100 and Smallcap 100 losing 1.29 per cent and 0.66 per cent, respectively.
Going ahead, the stock selection would be of high importance as it’s going to be stock picker’s market; hence, we have curated a list of stocks based on the T20 breakout system.
Here is the list:
CRISIL: The stock closed up by over 3 per cent on a day when the market witnessed a roller-coaster ride. Moreover, the volumes witnessed were the highest in the past 20 trading sessions. Keep a watch on this stock.
Firstsource Solutions (FSL): The stock has met the criteria of the T20 breakout system. Interestingly, it witnessed a good recovery from the day’s low in the second half of the trading session.
Himadri Speciality Chemical (HSCL): The stock meets the criteria of the T20 breakout system wherein, the price has managed to close above the two-day high and the volume recorded was also greater than the last 20 trading sessions.
Interglobe Aviation (IndiGo): The stock witnessed a good trending move on Friday along with a spike in the volume and that’s why appeared in the T20 breakout system.
JSW Energy: The stock got locked at the upper circuit limit on Friday along with a spike in the volume and that’s why appeared in the T20 breakout system.
DCM Shriram: The stock, which witnessed a trending day, has met the criteria of the T20 breakout system. Interestingly, it recorded more than 50 per cent of the volume in the second half of the trading session and closed near its day’s high.
Tata Elxsi: The stock, which witnessed a trending day, has met the criteria of the T20 breakout system. Interestingly, despite the adverse conditions in the markets, it registered a fresh high.