T20 breakout stocks: Best swing trading stocks to keep an eye on!
The benchmark index Nifty kicked off the week with a minor downtick and marked a low of 17,269.15. However, from the day’s low, Nifty has recovered over 80 points and ended the session down by 0.08 per cent at 17,351.30 level.
The broader markets were seen outperforming the frontline gauge with Nifty Midcap 100 and Nifty Smallcap 100 soaring over 0.45 per cent & 0.54 per cent, respectively. The advance-decline ratio was marginally in favour of advancers.
Let’s have a look at the stocks that should be on your watchlist for swing trading purposes. These stocks are selected based on the T20 breakout system criteria.
So, here is the list:
Advanced Enzyme Technologies: The stock jumped over 12 per cent and recorded its highest single-day gain since September 24, 2020. It has given consolidation breakout along with robust volume. The 50-day average volume is 1.54 lakh and on Monday, it witnessed over 57 lakh volume. This indicates strong buying interest by the market participants. Hence, keep a close watch on this stock.
Angel Broking: The stock has met the criteria of the T20 breakout system. Interestingly, it witnessed the bulk of the volume in the second half of the trading session.
Bharat Petroleum Corporation: The stock has managed to close near its day’s high and volume for the day was the highest since May 28. Hence, keep a close watch on this stock.
Coal India: 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.
Dishman Carbogen Amcis: The stock maintained its bullish momentum throughout the trading session, which is quite evident from the formation of a higher high on the lower timeframe. This bullish momentum came along with the above 50-day average volume.
Dish TV India: The stock has logged a fresh 52-week high on Monday. Also, it has recorded its highest single-day volume since December 2019. However, in the second half, it trimmed some of its gains from the day’s high.
Finolex Cables: 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.
Finolex Industries: The stock witnessed a good trending move on Monday along with a spike in the volume and that’s why appeared in the T20 breakout system.
HFCL: The stock 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 also, closed near its day’s high.
Indraprastha Gas: The stock has given a downward sloping trendline breakout on the daily chart. The volume action was upbeat throughout the day. Hence, keep a watch on this stock.
Syngene International: 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.