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

Indian markets ended Monday’s session with modest losses with Nifty slipping about 0.20 per cent. Nifty opened the session flat with negative bias while in the initial half an hour, it slipped below the 15,800 mark. However, it rebounded from lower levels and made a high of 15,893.35 levels. Thereafter, it drifted lower to end with marginal losses.   

The broader markets witnessed divergent trend with Nifty Midcap 100 slipping below the neutral line while Nifty Smallcap 100 ending in the green.   

Considering the relative outperformance of the broader market against frontline gauge, we believe that going forward, the stock-specific action is likely to continue on D-Street. 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’.           

So here is the list:   

Alkyl Amines Chemicals: The stock had witnessed a robust move in the first couple of hours of the trading session and thereafter, it traded within a range. The stock has recorded a fresh high while the volumes recorded were above average, which indicates buyers’ interest in the stock.   

Balaji Amines: This is the second stock from chemicals’ space. The stock witnessed a similar kind of interest when compared to Alkyl Amines Chemicals.   

Caplin Point Laboratories: The stock hit its upper circuit limit on Monday and with this, it has recorded a fresh high. Interestingly, the stock has recorded volume in excess of 75 lakh shares, which is greater than the prior week’s volume.   

Chambal Fertilisers & Chemicals: The stock has recorded its highest closing along with more than 35 lakh shares traded on Monday. The total volume on Monday exceeded the total volume, which was seen in the last week. Hence, this stock should be on investors’ radar.   

Dr Lal PathLabs: The stock recorded its best closing on Monday while volumes recorded too were seen on the higher side.

Mahindra CIE Automotive: The stock registered a fresh 52-week high on Monday. The volume witnessed a substantial jump as they were in excess of 56 lakh shares; as a result, it surpassed its prior week’s volume in just a single trading session. 

SBI Cards & Payment Services: The stock has witnessed a gap-up on Monday while its price jumped over 6 per cent. With this, it has entered into the gap area that was seen on June 18.