T20 breakout stocks: Best swing trading stocks to keep an eye on!
NSE benchmark index i.e. Nifty halted its five-day winning streak on the final trading session of the week and ended the day with a modest loss of 0.13 per cent. However, with this close, bulls would definitely have a sigh of relief. As in the morning, Nifty opened the day below the 18,200 mark and at one point in the day, it slipped below the prior bar low. Nevertheless, once again, the gap area of January 12 acted as a good support zone and Nifty bounced back sharply. It recovered more than 100 points from the day’s low.
Interestingly, it was the IT sector again that provided the much-needed support to the index and this was quite evident from the fact that among the top three contributors, two were from the IT sector namely, Infosys & TCS.
Among the sectoral indices, Nifty Realty and Nifty IT were the top gainers while on the other hand, Nifty FMCG & Nifty Pharma turned out to be the top losers.
The broader market indices were resilient as Nifty Smallcap 100 gained 0.75 per cent while Nifty Midcap 100 was unchanged. Overall, the advance-decline ratio was in favour of advances.
Going ahead, we are going to witness a stock-specific action in the market and hence, we have come out with a list of stocks based on the T20 breakout system.
So, here is the list of stocks:
Container Corporation of India: 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; hence, keep a close watch on this stock.
Indian Railway Finance Corporation: The stock has recorded one of the best single-day gains in a long time. Moreover, it has witnessed good volume action in the second half of the trading session.
Jamna Auto Industries: The stock has recorded one of the best single-day gains in a long time. Moreover, it witnessed good volume action in the second half of the trading session.
Larsen & Toubro: 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; thus, keep a close watch on this stock.
Praj Industries: The stock has recorded one of the best single-day gains in a long time. Moreover, it also witnessed good volume action in the second half of the trading session.