T20 breakout stocks: Best swing trading stocks to keep an eye on!

Interestingly, the bulk of the names have come up from hospitality & broking space; hence, these two sectors could be in the limelight in the coming days!

Indian markets ended Wednesday’s session on a positive note. As per provisional close, Sensex has crossed the landmark level of 53,000 while Nifty closed within a striking distance of the 15,900 mark.   

The broader market indices relatively outperformed the frontline indices as Nifty Midcap 100 and Smallcap 100 added 0.66 per cent and 0.62 per cent, respectively. The stock-specific action is likely to continue on D-Street. Considering this, we have chalked out a list of stocks, which can 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 is greater in the last 20 days while the price closed at a 20-day high. We have named it as ‘Twenty-20 breakout system’.     

Interestingly, the bulk of the names have come up from hospitality & broking space; hence, these two sectors could be in the limelight in the coming days!   

So, here is the list of stocks:   

Equitas Holding: The stock has witnessed a breakout of a long consolidation pattern along with a huge surge in volumes. Moreover, the stock hit its upper circuit limit of 20 per cent during the day.   

Edelweiss Financial Services: The stock has formed a closing Marubozu candlestick pattern as its closing price is equal to the high price of the price.   

Bharat Forge: The stock has closed near about the high point of the day and surpassed its previous all-time high of Rs 798, registering a fresh all-time high on Wednesday.   

Berger Paints: The stock of Berger Paints meets the criteria of the T20 breakout system and recorded a fresh all-time high on Wednesday. What is more striking is that in July series future, there has been an addition of over 20 per cent in the open interest.   

Indian Hotels Company & Lemon Tree: These two stocks from the hospitality sector gained in a transaction on Wednesday as they advanced in the range of 3.5 to 3.77 per cent. A keen interest is seen in the hospitality sector due to 'unlock trade'.   

Rain Industries: The stock reached near about levels which were seen last in the year 2018. Volumes recorded for Wednesday were the highest single-day volume seen in the stock ever.   

Godrej Properties: Godrej Properties meet the criteria of the T20 breakout system. Furthermore, scenario for the real estate sector is turning bullish as many of the big broking firms anticipate Mumbai real estate sector poised for a strong recovery.   

  Angel Broking: The stock made a high of Rs 984 during the day on Wednesday; however, profit booking was seen in the stock at higher levels. As a result of this, the stock gains were restricted to 5 per cent only but it met the criteria of T20 breakout system