T20 breakout stocks: Best swing trading stocks to keep an eye on!
The bulls had a very good start during the first half of today’s trading session and they also seemed all set for a decent closing on the final trading session of the month. However, in the latter half of the trading session, things went haywire as profit booking emerged and Nifty lost almost 100 points from the day’s high. Furthermore, it closed near the day’s low. Meanwhile, the broader markets continued to display strong performance with Nifty Midcap and Smallcap advancing about 1.19 per cent and 0.57 per cent, respectively.
Since the action continued in broader markets, we believed that the stock-specific action is likely to continue on D-Street. Hence, 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 was greater in the last 20 days while the price closed at a 20-day high. We have named it as ‘Twenty-20 breakout system’.
Here is the list of stocks that one must keep on the radar for swing trading:
Aarti Industries: The stock witnessed buying interest throughout the day and the testimony of this is that the stock has formed a sequence of higher high & higher low on the lower timeframe. Moreover, the stock has closed near the day’s high while the headline indices witnessed profit booking in the latter half of the trading session. Hence, it needs to be on your watch list!
Ashok Leyland: This stock witnessed a massive upmove in the first hour of the trade and thereafter, it remained sideways and witnessed some profit booking. However, profit-booking from the day’s high was seen on the back of subdued volumes, which makes us believe that it is just a normal profit booking. Hence, one can still keep this stock on the radar.
Deepak Nitrite: The stock has witnessed over 50 per cent of volume in the first half of the trading session along with the breakout of a three-week tight pattern.
Mahindra Logistics: The stock has appeared on the list for the second day in a row. Those holding this stock can trail it!
SRF: The stock witnessed buying interest throughout the day and the testimony of this is that the stock has formed a sequence of higher high & higher low on the lower timeframe. Keep a watch on this stock!
Sun Pharma: The pharma index witnessed top-notch performance on Friday while Sun Pharma has appeared in the T20 breakout system as it witnessed a breakout of cup pattern. Hence, keep a watch on this stock too!
Sun TV: Another stock starting with ‘Sun’ has appeared in the list i.e. Sun TV. It has witnessed a breakout of a flat base pattern.
Vedanta Ltd: The stock has appeared on the list for the second day in a row. Those holding this stock can trail it!
Tech Mahindra: The stock has recorded one of the best single-day gains in a long time. The stock recorded the highest single-day volume in almost the last one year.