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

Nifty extended the rally after a strong opening and it stayed in the positive terrain throughout the day to close above the 15,800 mark.

The broader markets also witnessed buying interest with Nifty Midcap 100 and Smallcap 100 adding 0.21 and 1.03 per cent, respectively.

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 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, there as many as 14 stocks in this list, which is the highest seen in the last two weeks. High numbers of breakouts indicate that good days are likely to continue on D-Street.

Aditya Birla Fashion & Retail: The stock recorded a fresh 52-week high on Tuesday and volumes recorded for the day were the highest ever seen since October 2020. Moreover, approximately 50 per cent of the volume was recorded in the last leg of the trade along with price closing near the day’s high.

BSE: The stock recorded double-digit gains on Tuesday and marked a fresh 52-week high. The stock recorded the highest single-day volume for a long time. Furthermore, bulk of the volume was seen in the last leg of the trade.

Can Fin Homes: The stock recorded the highest volume in almost the last one month and furthermore, the stock marked a sequence of a higher high and higher low in today’s session in the 60-minute time frame.

Central Depository Services (CDSL): The stock met the criteria of the Twenty-20 breakout system. In the last leg of the trade, there was buying interest seen in the stock.

Century Plyboards: The stock has witnessed a nice consolidate breakout, which is backed by the above-average volumes. It has also managed to close near its day’s high.   

Finolex Cables: The stock marked a fresh 52-week high and it has witnessed a nice breakout of a consolidation pattern, which is backed by the above-average volumes.

ICICI Bank: ICICI Bank contributed nearly 30 points to Nifty’s kitty on Tuesday. If there is a follow-up move on Wednesday, this stock could witness a good move. 

Kalpataru Power Transmission: The stock has witnessed a breakout of a flat base pattern, which is backed by the above-average volumes.

Multi Commodity Exchange of India (MCX): The stock met the criteria of the Twenty-20 breakout system. Interestingly, more than 80 per cent of the volume was seen in the last leg of the trade, which suggests most traders would have carried forward the position.

Narayana Hrudayalaya: The stock met the criteria of the Twenty-20 breakout system. Interestingly, good buying interest was seen in the second half of the trading session.

SBI Life Insurance Company: The stock scaled to a fresh all-time high on Tuesday’s session. The stock has witnessed a breakout of the cup pattern.

V-Mart Retail: The stock met the criteria of the Twenty-20 breakout system. Interestingly, it has witnessed breakout of multi-year breakout.

Raymond: The stock witnessed the bulk of the move in the first hour of the trading session and thereafter, it traded within the first’s hour range. Hence, if the stock moves above the high of Tuesday, it could witness some action.

Nilkamal: The stock met the criteria of the Twenty-20 breakout system. It has filled the gap of June 4.

Happy Trading!!