T20 breakout stocks: Best swing trading stocks to keep an eye on!
It was terrific Thursday for the Indian benchmark indices with Nifty advancing half a per cent and closing at a fresh record high level. Except for Nifty Pharma index, all other sectoral indices witnessed buying interest with Nifty Media and Nifty IT leading from the front.
The broader markets were also seen buzzing with Nifty Midcap 100 and Smallcap 100 outperforming the frontline gauge as they added 1.10 per cent and 2.12 per cent, respectively.
With the action coming back in the broader indices, we have selected a list of stocks that meet the criteria of the T20 breakout system.
An important point to note here is that these stocks are filtered using price action and volumes. Volume was greater in the last 20 days while the price closed at a 20-day high. We have named it as ‘Twenty-20 breakout system’.
Bharat Forge: What a fantastic session it was for Bharat Forge today! The stock witnessed buying action throughout the day and what’s more interesting is the fact that the stock has recorded its highest single-day volume in the last two months. Furthermore, 90 per cent of the entire day’s volume was seen in the second half of the trading session. Hence, it commands attention.
Indoco Remedies: The stock recorded its highest single-day volume ever and closed at an all-time high. Hence, it could be a good stock to keep an eye on.
Max Healthcare Institute: The stock witnessed strong action in the initial hour of trade and thereafter, it entered into a phase of consolidation. Buying interest was seen again in the last leg of the trade as the stock continued making higher high support by good volume action.
Power Grid Corporation of India: The stock meets the criteria of the T20 breakout system and is also, nearing a breakout of flat base pattern.
VIP Industries: The stock was locked at an upper circuit limit of 20 per cent and also, recorded the highest single-day volume in almost the last 4-5 years. Hence, it demands special attention.