T20 breakout stocks: Best swing trading stocks to keep an eye on!
On Thursday, Nifty was stuck within the resistance and support band. It faced resistance at the upper trendline of the descending channel while on the downside, the opening upside gap area of December 28 acted as a support.
Among the sectoral indices, the majority of the sectors ended in red wherein, Nifty Metal and Nifty Realty were the top losers. On the other hand, Nifty IT, Nifty Pharma, and Nifty FMCG turned out to be the top gainers.
Talking about the broader markets’ performance, Nifty Midcap 100 ended in red while Nifty Smallcap 100 ended in the green.
We expect stock-specific action to continue on D-Street. Hence, we have handpicked some of the best stocks for swing trading based on the T20 breakout system.
So, here is the list of the stocks:
Automotive Axles: The stock has made its way into the list as it closed above the 20-day high while its volumes are also higher in the last 20 days. The volume activity was quite profound in the first half of the trading session. Therefore, watch out for the stock!
Cadila Healthcare: 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.
Fertilisers & Chemicals Travancore: The stock has made its way into the list as it closed above the 20-day high while its volumes are also higher in the last 20 days. The volume activity was quite profound in the second half of the trading session. Hence, watch out for the stock!
Glenmark Life Sciences: 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 throughout the day. Hence, keep a close watch on this stock.
Goa Carbon: 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. The volume activity was quite profound in the second half of the trading session. Moreover, the stock has managed to close at the upper circuit. Thus, watch out for the stock!
Godawari Power and Ispat: 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, it has also managed to close at the upper circuit. Therefore, watch out for the stock!
Intellect Design Arena: 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. The volume activity was quite profound in the second half of the trading session. Therefore, watch out for the stock!
Universal Cables: 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.