T20 breakout stocks: Best swing trading stocks to keep an eye on!
Indian markets opened Monday’s session with a gap-up and made an intraday high of 15,789.20. However, it failed to sustain at higher levels and witnessed a sharp bout of profit booking. Besides, at one point in time, Nifty had even slipped below the level of 15,650. In the end, Nifty did manage to witness a bounce back from the lower levels and ended the day almost unchanged.
Despite high volatility witnessed in the frontline indices in the second half of the trading session, the broader markets were seen buzzing as Nifty Midcap 100 and Nifty Smallcap 100 ended the day in green, up by 0.44 per cent and 0.60 per cent, respectively.
Considering this, we have chalked out a list of stocks that may 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, a lot of names have come up in the realty sector; hence, this sector could be in the limelight in the coming days.
Aster DM Healthcare: Buying interest in the stock was quite visible since the afternoon session. The stock managed not only to withstand the sharp bouts of volatility witnessed in the frontline indices but also managed to close near its day’s high. What’s more interesting that 97-98 per cent of the volume activity was seen post afternoon session.
Federal Bank: The stock opened the day with a gap-up and made an intraday high of Rs 90.90. Thereafter, in line with the volatility of the frontline indices, the stock turned volatile but still, managed to record its best closing after the first week of March. Hence, watch out for this stock!
Gujarat Alkalies & Chemicals: The stock is on the verge of a multi-month breakout and on Monday, it managed to close near the day’s high with astonishing volumes.
SIS: This is the second time that the stock has managed to appear in this system in the last one week. The stock registered a fresh 52-week high on Monday while the volumes recorded are the highest-ever single-day volumes.
Godrej Properties, Indiabulls Real Estate, Prestige Estates Projects & Oberoi Realty: You must have heard of the proverb, ‘birds of a feather flock together. Similarly, all these real estate companies appeared in the T20 breakout system, which clearly indicates that this sector is likely to be in the limelight on Tuesday.
Shilpa Medicare: The stock has witnessed a nice consolidate breakout, which is backed by the above-average volumes. It has also managed to close near its day’s high.
Happy Trading!!