T20 breakout stocks: Best swing trading stocks to keep an eye on!
Santa rally extended for the third straight day on Thursday and Nifty has now gained over 600 points from Monday’s session low of 16,410. However, on Thursday, it formed a Doji candle as its closing was near the opening level. Nifty has now retraced a little over 50 per cent of the recent decline (17,639.50-16,410.10).
Going ahead, the zone of 17,148-17,200 is likely to act as a major hurdle for the index in the near term as its confluence of 61.8 per cent retracement of the recent decline as well as the 20-DMA are placed in this region.
India VIX, a measure that shows fear in the market, has slipped below the 16 mark. All the sectoral indices barring Nifty Media & metal ended in green with Nifty Realty and Nifty PSU Bank leading from the front.
The broader market indices yet again outperformed the headline indices. Considering the bulls have seen a follow-through move on Thursday along with a dip in India VIX and outperformance by the broader markets, we believe that the rally may extend further. Hence, we have come out with a list of stocks based on the T20 breakout system.
So, here is the list of stocks from the T20 breakout system:
Gati Ltd: The stock met the criteria of the T20 breakout system and witnessed a trending day. Furthermore, it managed to close near the day’s high while the volume activity was quite profound throughout the day. Hence, keep a close watch on this stock.
JB Chemicals & Pharmaceuticals: The stock met the criteria of the T20 breakout system. The volume activity was quite profound in the second half of the day. Hence, keep a close watch on this stock.
Kothari Petrochemicals: The stock met the criteria of the T20 breakout system and witnessed a trending day. Hence, keep a close watch on this stock.
MMTC Ltd: The stock met the criteria of the T20 breakout system and witnessed a trending day. Furthermore, it managed to close near the day’s high while the volume activity was quite profound in the second half of the day. Hence, keep a close watch on this stock.
L&T Finance Holdings: The stock met the criteria of the T20 breakout system and witnessed a trending day. Furthermore, it managed to close in the top quartile of the range while the volume activity was quite profound in the initial half of the day. Hence, keep a close watch on this stock.
Trigyn Technologies: The stock met the criteria of the T20 breakout system and made an appearance for the second day in a row. Hence, keep a close watch on this stock.