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

It was a historic day for the Indian benchmark indices as Nifty and Sensex crossed yet another milestone on Monday. Sensex closed with a striking distance from the 56,900 mark while Nifty closed above the 15,900 mark. Both Sensex and Nifty gained more than one per cent.   

The broader markets too were seen in a merry mood with Nifty Midcap 100 and Smallcap 100 advanced 1.94 per cent and 1.53 per cent, respectively. The market breadth was extremely positive and barring Nifty IT, all other indices ended in green.

  
Given the strong momentum witnessed in the markets, we believe that the markets are likely to continue their march forward. However, it would be wise to keep a list of stocks ready, which could witness the action in the coming days. Hence, we have curated a list of stocks, which meet the criteria of the T20 breakout system.   

ABB India: The stock meets the criteria of the T20 breakout system wherein, the price has managed to close above two-day highs and volume recorded was greater than the last 20-trading sessions. The stock has closed near its day’s high and witnessed a breakout of a flat base pattern. Hence, one should keep a close watch on this stock.   

Axis Bank: Bank Nifty was amongst the top three performing sectors on Monday and interestingly, four out of the top five contributors to Nifty 50 index belonged to Bank Nifty. Axis Bank contributed as much as 17 points to Nifty’s kitty. Keep a watch on this stock.   

Indian Energy Exchange: The stock has recorded its highest single-day volume after May 20 and witnessed one of the strongest bullish candles in the near term. Hence, keep a close watch on this stock.      

Polycab India: The stock has recorded its highest single-day volume after May 14 and witnessed one of the strongest bullish candles in the near term. Hence, keep a close watch on this stock.