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

Nifty, on Wednesday, staged a smart recovery from the lower levels i.e. from the lows of the day, it gained nearly 100 points. Interestingly, four out of the top five contributors belong to the banking sector. Kotak Mahindra Bank, HDFC Bank, ICICI Bank, and Axis Bank have combinedly contributed nearly 34 points to Nifty’s kitty, which helped Nifty to end on a flat note. 

Stock selection is going to be crucial going forward; hence, we have come out with a list of stocks that meet the criteria of the T20 breakout system.   

So, here is the list:  

HDFC Asset Management Company: The stock meets the criteria of the T20 breakout system wherein, the price has managed to close above the two-day high and the volume recorded was also greater than the last 20 trading sessions. Moreover, the stock has witnessed the bulk of the volume in the last couple of hours of the trading session. Hence, keep a close watch on this stock.  

KEI Industries: The stock has witnessed its highest single-day volume since June 30, 2021. It has recently broken out of a base in its weekly chart. Hence, keep your eyes on this stock.   

Kotak Mahindra Bank: The stock has recorded its highest single-day volume in the last six months and witnessed a trending day on Wednesday. Hence, demands attention.   

Info Edge India (Naukri): The stock gained over 8 per cent on Wednesday and also met the criteria of the T20 breakout system. It witnessed buying interest for the majority part of the trading session.   

Orient Electric: The stock has made its way into the list as it closed above the 20-day high and volumes are higher in the last 20 days. The bulk of the price movement in the stock was seen in the first couple of hours and thereafter, the stock pulled back a bit. Traders can keep a watch on this stock.