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

Nifty ended the final trading session of the month of August on a buoyant note and at a record high level. It closed up by 1.18 per cent at 17,138 levels. On a month-on-month basis, it has gained over 8.5 per cent. Interestingly, Nifty has recorded its best monthly gains for August since 2006.   

The broader market indices too closed in positive terrain; however, they were seen underperforming the frontline gauges with Nifty Midcap 100 and Smallcap 100 adding 0.59 per cent & 0.71 per cent, respectively.  

Given the strong momentum witnessed in the markets, we believe that the markets are likely to continue their march forward. However, it would be wise to keep a list of the stocks ready, which could witness the action in the coming days. Hence, we have curated a list of stocks that meet the criteria of the T20 breakout system.   

So here is the list: 

Adani Total Gas: The stock meets the criteria of the T20 breakout system wherein, the price has managed to close above the two-day highs and the volume recorded was also greater than the last 20 trading sessions. The stock closed at the day’s high and was locked in a 5 per cent upper circuit. Hence, one should keep a close watch on this stock.     

Bajaj Finance: Bajaj Finance logged its best single-day gain since June 10. The stock has closed near the day’s high while being the second-best contributor in Nifty 50 index. It has also recorded over 40 per cent of the volume in the last leg of the trade. Hence, watch out! 

Interglobe Aviation (IndiGo): The stock has surpassed its previous all-time high, which was registered in September 2019. It has also witnessed its best single-day gain since the first week of March 2021. Keep a close watch on this stock.   

Infibeam Avenues: The stock has skyrocketed on Tuesday with gains of over 17 per cent. As a result, it meets the criteria of the T20 breakout system.    

Indian Oil Corporation (IOC): 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. Furthermore, the stock has witnessed nearly 50 per cent of its volume in the second half of the trading session.   

SBI Cards & Payment Services: The stock has met the criteria of the T20 breakout system. Interestingly, it has recorded more than 50 per cent of the volume in the last leg of the trade.   

SRF: SRF on Tuesday crossed the milestone level of Rs 10,000. It took almost 20 trading sessions for its journey from Rs 9,000 to Rs 10,000.