T20 breakout stocks: Best swing trading stocks to keep an eye on!
Owing to positive global cues, the Indian benchmark indices started off Thursday’s session on a buoyant note. However, the buoyancy on D-Street was momentary as, after opening, the benchmark indices soon pared their early gains. Thereafter, for the major part of the trading session, the trajectory was downwards and at one point in the day, Nifty index even breached the level of 17,200. However, a decent recovery from the lower levels in the latter part of the trading session helped Nifty to log a provisional close near the 17,250 mark with gains of 0.16 per cent.
The mid-caps, as well as small-caps, underperformed the frontline gauge as Nifty Midcap 100 and Smallcap 100 dropped 0.69 per cent & 0.83 per cent, respectively.
Talking about the sectoral indices, Nifty IT was the sole sector, which ended the day in green while all other sectors ended in negative terrain with Nifty Media being at the forefront of the decline. Nifty PSU Bank continued its obvious weakness while Nifty Auto too has been one of the weakest sectors for the day.
The current market scenario seems more like a trading market than an investing market. A scrip-specific approach is advocated. Hence, we have come up with a list of stocks based on the T20 breakout system.
So, here is the list of stocks from the T20 breakout system:
LG Balakrishnan & Bros (LGBROS): The stock met the criteria of the T20 breakout system and witnessed a trending day. Furthermore, it has managed to close near its day’s high while the volume activity was quite profound throughout the day. Hence, keep a close watch on this stock.
Kitex Garments: The stock skyrocketed nearly 10 per cent and witnessed a jump in volume as well. Moreover, decent volume was witnessed in the second half of the trading session. Hence, watch out for this stock!
Websol Energy System: The stock has made its way into the list as it closed above the 20-day high while its volumes are higher in the last 20 days. Moreover, the stock has managed to close in the top quartile of the day’s range. Hence, watch out for the stock!