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

Nifty recovered over 400 points from the day’s low, supported by across-the-board buying.

Tuesday turned out to be a terrific day of trade on D-Street as the bulls made a strong comeback. The Indian benchmark indices witnessed a relentless sell-off in the last five trading sessions while the start to Tuesday’s session was a gloomy one and at one point in the day, it made a low of 16,836.80. Interestingly, the lowest point of the day coincided with the 78 per cent retracement level of the December to January rally.   

Nifty recovered over 400 points from the day’s low, supported by across-the-board buying. The testimony of this is that all the sectors, barring Nifty IT, ended the day in the green. However, Nifty PSU Bank became the real showstopper as it gained over 4 per cent while all the constituents of Nifty PSU Bank were also in green.   

Buying interest was also visible in the broader market indices with Nifty Midcap 100 and Smallcap 100 advancing 0.94 per cent & 0.89 per cent, respectively.   

India VIX also crashed 5 per cent and it has settled below the 22 mark. With volatility abating and across-the-board buying interest witnessed on Tuesday, we have prepared a list of stocks that have the potential to outperform in the near term. These stocks are based on the T20 Breakout system.   

Here is the list of stocks:  

Bank of Baroda: 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. Therefore, watch out for the stock!     

Sharda Cropchem: The stock met the criteria of the T20 breakout system and recorded a fresh 52-week high.     

Pressman Advertising: The stock has recorded one of the best single-day gains in a long time. Moreover, it also witnessed good volume action in the second half of the trading session.