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

Going forward, stock selection would be of paramount importance and hence, we have come out with a list of stocks that look prominent set-ups

Volatility was the hallmark of today’s session as Nifty was all over the place. In the initial hour of the day, it had registered a fresh all-time high of 18,604.45, and thereafter, it witnessed a sudden bout of selling, which took Nifty lower towards the 18,400.25 mark. However, market participants used the dip to buy, and eventually, the index recovered only to face resistance at a higher level and slip lower. Finally, the index settled with a modest loss of 0.32 per cent but it dropped nearly 180 points from the day’s high.   

The broader markets too witnessed selling pressure with Nifty Midcap 100 & Smallcap 100 plunging 2.18 per cent and 1.84 per cent, respectively.   

With the formation of a bearish candle on the daily chart of Nifty after a spectacular run, one needs to be watchful. Going forward, stock selection would be of paramount importance and hence, we have come out with a list of stocks that look prominent set-ups to keep on the watch list as these are picked based on the T20 breakout system. 

Here is the list: 

Larsen & Toubro: The stock has made its way into the list as it closed above the 20-day high while its volumes are higher in the last 20 days. Hence, watch out for the stock!   

Larsen & Toubro Infotech: The stock has gained over 15 per cent on Tuesday and along with this, it witnessed a huge jump in the volume. The majority of the volume activity was seen in the initial hour of the trade and thereafter, the stock continued its upmove. Hence, keep an eye on this stock.