T20 breakout stocks: Best swing trading stocks to keep an eye on!
Indian markets witnessed one of its sharpest falls in recent times with Nifty and Sensex closing down by about 1.07 per cent and 1.10 per cent, respectively.
After opening with a massive gap-down, the market did attempt to bounce back; however, recovery did not last too long as selling pressure intensified in the second half of the trading session.
Given the sharp fall in the market, it’s essential for the traders to review their positions as well as replace current holding with the stocks, which are likely to outperform the market in the near future. Hence, we have chalked out a list of stocks that may 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 was greater in the last 20 days while the price closed at a 20-day high. We have named it as ‘Twenty-20 breakout system’.
BSE: The stock has yet again appeared in our Twenty-20 breakout system. Interestingly, on a day where the market was bleeding red, this stock managed to mark a fresh all-time high.
CRISIL: This stock remained in action throughout the trading session. In addition to this, good action was witnessed in the stock during the last leg of the trade along with decent volume.
Dishman Carbogen Amcis (DCAL): The stock was seen consolidating for the last several weeks; however, on Monday, it witnessed a breakout from the consolidation phase along with a huge spurt in volume. An important point to note here is that the stock is in LT-ASM-STAGE 1 surveillance.
Indian Energy Exchange: Today, the stock opened with modest losses; however, in the second half of the trading session, it picked up the pace and witnessed a good run-up. Interestingly, a bulk of the volume was witnessed in the last leg of the trade.
PI Industries: This stock witnessed a breakout from a nice consolidation phase and interestingly, it managed to end near the day’s high. Volume activity picked up pace in the second half of the trading session as nearly 70 per cent of the volume was recorded in the last leg of the trade.
Happy Trading!!
Do share your feedback in the comment section as to whether this T-20 breakout column is helping you or not. Constructive feedback & comments always help!