T20 breakout stocks: Best swing trading stocks to keep an eye on!
Bulls put up a great performance on the very first day of the calendar year 2022. Nifty and Sensex jumped over 1.5 per cent and with this, Sensex reclaimed its important psychological mark of 59,000 while Nifty reclaimed the 17,600 mark. Despite this strong upmove, India VIX advanced 1 per cent.
On the sectoral front, barring Nifty Pharma, all other sectoral indices ended with gains wherein, Nifty Bank and Nifty Financial Services led from the front.
The broader market indices also ended in green but it relatively underperformed the frontline gauge with Nifty Midcap 100 and Smallcap 100 adding 1.16 per cent & 1.12 per cent, respectively.
Considering the fact that Nifty has witnessed a follow-through move after the breakout of descending triangle pattern along with the broad-based buying seen on Monday, we expect momentum to continue in the coming trading sessions. Hence, we have shortlisted a few stocks based on the T20 breakout system.
So, here is the list of stocks:
Alkyl Amines: 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. Also, the stock has managed to close near the day’s high. Hence, watch out for the stock!
Balmer Lawrie & Company: 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!
Bal Pharma: 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. The volume activity was quite profound in the first half of the day. Moreover, it has also managed to close at the upper circuit. Thus, watch out for the stock!
Eicher Motors: The stock met the criteria of the T20 breakout system and witnessed a trending day. Furthermore, it managed to close in the top quartile of the range. Thus, keep a close watch on this stock.
Manaksia Steels: 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. The volume activity was quite profound in the second half of the day. Moreover, it has also managed to close at the upper circuit. Therefore, watch out for the stock!
Oriental Hotels: 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. Also, the stock has managed to close near the day’s high. Hence, watch out for the stock!
Suprajit Engineering: 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. Also, the stock has managed to close near the day’s high. Hence, watch out for the stock!