T20 breakout stocks: Best swing trading stocks to keep an eye on!
When India men's national cricket team captain Virat Kohli was at his peak performance, his routine was like, ‘wake up, score centuries, sleep, repeat’. Similarly, on D-Street, the bulls also seem to have entered into the same mode, where they open in green, hit a new all-time high, and repeat!
Nifty touched a fresh all-time high on Thursday of 17,245.50 and ended up by nearly 1 per cent. The broader market indices were also seen buzzing with Nifty Midcap 100 gaining 0.99 per cent while Nifty Smallcap 100 inching higher by 1.02 per cent.
Let’s have a look at the stocks that should be on your watchlist for swing trading purposes. These stocks are selected based on the T20 breakout system criteria.
So, here is the list:
Amber Enterprises India: The stock has met the criteria of the T20 breakout system. Interestingly, it recorded more than 50 per cent of the volume in the first half of the trading session and also, closed near its day’s high.
Container Corporation of India: The stock has managed to close near its day’s high. Moreover, more than 50 per cent of the volume in the stock has been witnessed in the second half of the trading session.
Delta Corp: The stock has appeared on the list for the second day in a row as it logged double-digit gains on Thursday. However, later on, it trimmed some of its gains from the day’s high.
Exide Industries: The stock of Exide Industries jumped nearly 4.6 per cent and recorded its highest single-day volume since February 8. In the last leg of the trade, the stock was seen moving in a range. Hence, keep a close watch on this stock.
Happiest Minds Technologies: The stock soared nearly 4.7 per cent on Thursday. Interestingly, the bulk of the move in the stock was seen around the noon session and upmove was also witnessed along with a rise in the volumes. Hence, watch out!
HDFC Life Insurance: The stock of HDFC Life Insurance Company is seen buzzing on the bourses on Thursday. The stock has jumped over 5 per cent. Though it came off from the day’s high, it has met the criteria of the T20 breakout system.
ICICI Securities (ISEC): The stock has met the criteria of the T20 breakout system. Interestingly, it recorded more than 50 per cent of the volume in the first half of the trading session and closed near its day’s high.
Marico: Nifty FMCG emerged as the top gainer in the sectoral indices while the stock of Marico was the second-best performing stock in the FMCG index.
Mahindra Holidays & Resorts: The stock had witnessed the bulk of its upmove in the first couple of hours of the trading session and thereafter, traded in a range. Hence, watch out!