T20 breakout stocks: Best swing trading stocks to keep an eye on!

The broader market indices were seen relatively outperforming the frontline indices with Nifty Smallcap 100 ending up by 0.50 per cent while Nifty Midcap 100 remaining almost unchanged.

Nifty opened the session with a gap down and as the day progressed, it extended its fall. At one point in the day, the index had slipped below 16,500 and made a low of 16,478.50. However, at lower levels, buying interest was witnessed and the benchmark index staged a smart recovery of nearly 130 points from the day's low. In the end, Nifty closed lower by 1.12 per cent at 16,605.95.   

The broader market indices were seen relatively outperforming the frontline indices with Nifty Smallcap 100 ending up by 0.50 per cent while Nifty Midcap 100 remaining almost unchanged.   

Among the sectoral indices, Nifty Metal jumped over 4 per cent and interestingly, the majority of the components of Nifty Metal ended in the green. Meanwhile, Nifty Media and Nifty Energy gained 1.87 per cent & 1.27 per cent, respectively. On the other hand, Nifty Auto and Nifty Bank ended down by 2.96 per cent & 2.3 per cent, respectively.   

Going ahead, the stock selection is going to be of paramount importance and hence, we have chalked down a list of stocks that are likely to outperform.    

Here is the list of stocks:  

Bharat Electronics: The stock had met the criteria of the T20 breakout system. It witnessed good movement in the first hour of the trading session. Hence, keep a close watch on this stock.      

Coal 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.        

GAIL: 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. Therefore, watch out for the stock!     

Oil 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.        

Tata Steel: 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. Therefore, watch out for the stock!    

NHPC: The stock had met the criteria of the T20 breakout system. It witnessed good movement in the second half of the trading session while the volume activity was also quite profound during that time. Hence, it demands attention!