Ultimate volume & price strength breakout: Best momentum stocks to keep an eye on!

Candlestick charts are one of the most favoured tools of analysis for traders as they provide the much-needed information at a glance. In candlestick, the size of the candlestick body is the most important aspect as it represents the difference between the opening and closing price and also, tells a lot about the strength of the buyers. As a result, the greater the body of the candlestick of the day’s range, the greater is the strength displayed by buyers. We have also added a factor that the volume should be greater than its prior trading session.   

This system is based on the candlestick body parameter. It highlights the stock whose body is more than 60 per cent of the day’s range and volume is greater than the prior trading session. We have considered stocks that have bullish body strength and are from Nifty 500 universe.   

So, here is the list: 

Abbott India: The stock has gained nearly 4.5 per cent on the day when many of the stocks failed to hold up. Despite high volatility in the markets, this stock managed to meet the criteria of the body over 60 per cent of the day’s range. Furthermore, the stock has recorded almost double volume as compared to its prior trading session.   

AU Small Finance Bank: The stock has witnessed a breakout of cup & handle pattern with above-average volume. Besides, the body of the candlestick is also reflecting optimism as it meets the criteria of over 60 per cent.   

 Bharti Airtel: The stock is on the verge of a breakout of cup pattern while the stock has robust volumes on Tuesday.   

 Escorts: The stock has recorded one of the most bullish candles in the recent times and volumes too were quite profound.   

 Future Retail: The stock has jumped nearly 7 per cent along with robust volume.   

 Gland Pharma: The stock has witnessed a breakout of flat base pattern on the daily chart with a huge spike in the volume. A strong body candle indicates that there was buying interest in the stock.   

 HDFC and HDFC Bank: As the broader market turns subdued, there is a lot of interest seen among the large-cap stocks while HDFC twins are back into reckoning. HDFC twins meet the system criteria.   

 Navin Fluorine: The stock has witnessed good buying in the first hour of the trading session and also, managed to close near the day’s high. Volume too was quite profound.   

Orient Electric: The stock meets the criteria of bullish body candle and volume as well.   

Sanofi: The stock has witnessed a breakout of consolidation pattern along with a strong body bullish candle and higher volume when compared to its prior trading session.