T20 breakout stocks: Best Swing Trading stocks to keep an eye on!

Interestingly, many names have come up from Cement sector, hence, this sector could be in limelight!

For the major part of trading session, the bulls had an upper hand, but all of sudden selling pressure emerged in the last leg of trade and Indian markets ended Tuesday’s session with modest losses. As per provisional close, Sensex and Nifty dipped 0.04 and 0.10 per cent, respectively. Despite a negative close on D-Street, stock specific action continued. Considering this, we have chalked a list of stocks, which can see some good action in the near term.

An important point to note here is that these stocks are filtered using price action and volumes. Volume is greater in the last 20 days while the price closed at a 20-day high. We have named it as ‘Twenty-20 breakout system’.   

Interestingly, many names have come up from Cement sector, hence, this sector could be in limelight!

So, here is the list of stocks: 

Ambuja Cement: The stock has gained about 3.5 per cent on Tuesday and it has also registered record high closing with volume spurt.

AU Small Finance Bank: The stock has filled its opening downside gap of April 30, 2021. Volume’s activity observed in the stock is quite profound.  

Dalmia Bharat: The stock recorded fresh all-time high in Tuesday’s session and the stock has met the criteria of 20-day high volume as well, hence, this stock deserves a place in the watchlist!  

Godrej Consumer Products: Recently, the company provided its quarterly update for Q1FY22. In India, the company witnessed strong double-digit sales growth in their Home Care and Personal Care categories. Home Care was led by a strong growth in Household Insecticides whereas Personal Care was led by Personal Wash & Hygiene. The stock is approaching towards its all-time high level and sustaining above Rs 980, would result into a multi-year breakout.

HDFC Bank: HDFC Bank was the top contributor in Nifty on Tuesday, if the contribution from HDFC Bank would have not come in on Tuesday, Nifty would have witnessed a drastic fall. As HDFC Bank contributed nearly 41 points to Nifty.

JKCement: The has jumped over 5 per cent on Tuesday after a long consolidation and price-volume activity suggests still there some stem left in the stock.

JK Lakshmi Cement: JK Lakshmi Cement registered fresh all-time high on Tuesday.

Ramco Cements: Yet another stock from the cement space, the stock has gained over 4 per cent on Tuesday and it meets the volume and price criteria of T20 Breakout System.

SIS: The stock gained over 5 per cent and buying interest was visible for the majority part of the trading session. Furthermore, the stock opening level was the low of the day, so, it had formed an open=low candle.

Sumitomo Chemical India: This stock formed an open=low candle, however, due to selling pressure in the last leg of trade it has trimmed some of its gains, but it has managed to closed at fresh high’s.