T20 breakout stocks: Best swing trading stocks to keep an eye on!
Indian stock markets fell sharply on the last trading session of the week with the 30-share pack Sensex declining nearly 900 points or 1.54 per cent to close around the important psychological mark of 57,000 mark. Meanwhile, its broader peer i.e. NSE Nifty plunged 263 points or 1.53 per cent to end below the 17,000 mark.
Selling pressure in the broader markets was even severe as both i.e. Nifty Midcap and Smallcap indices slid nearly 2.5 per cent each.
India VIX, a measure that shows fear in the market, spiked around 3 per cent, nearly to the 16.38 level.
Selling pressure was witnessed across the board, barring Nifty IT index, which gained 1.35 per cent. On the other hand, the main laggard on Friday was Nifty Media index, which ended with a loss of more than 4 per cent. The realty and bank indices followed the suit.
The current market scenario seems more like a trading market than an investing market. A scrip-specific approach is advocated. Hence, we have come up with a list of stocks based on the T20 breakout system.
So, here is the list of stocks from the T20 breakout system:
Wipro: The stock met the criteria of the T20 breakout system and witnessed a trending day. Furthermore, it has managed to close near its day’s high while the volume activity was quite profound in the second half of the trading session. Hence, keep a close watch on this stock.
Websol Energy System: This stock has flashed in the T20 breakout system for the second consecutive day.
Persistent Systems: The stock has made its way into the list as it closed above the 20-day high while its volumes are higher in the last 20 days. Hence, watch out for the stock!