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

The Indian stock markets have been in a tearing hurry in the last five trading sessions with frontline indices continuing to reach higher levels in uncharted territory. Sensex closed above the 58,000 mark for the first time in history while Nifty ended the session above the 17,300 mark.   

The broader markets too were seen participating; however, they lagged a bit as Nifty Midcap 100 and Smallcap 100 added 0.47 per cent & 0.36 per cent, respectively.   

Given the strong momentum witnessed in the markets, we believe that the markets are likely to continue their march forward. However, it would be wise to keep a list of the stocks ready, which could witness the action in the coming days. Hence, we have curated a list of stocks that meet the criteria of the T20 breakout system.  

So here is the list:  

Hindustan Petroleum Corporation: The stock meets the criteria of the T20 breakout system wherein, the price has managed to close above the two-day highs and the volume recorded was also greater than the last 20 trading sessions. The stock closed at the day’s high. Hence, one should keep a close watch on this stock.   

IRB Infrastructure Developers: The stock has gained over 4 per cent along with the highest single-day volume on July 9. Moreover, it closed near its day’s high; hence, watch out!  

L&T Technology Services: The stock had witnessed more than 50 per cent of the volume in the first half of the trading session.   

Prestige Estates Projects: The stock touched a fresh high on Friday along with a huge spurt in volume; however, it pulled back from the day’s high and recorded its best closing ever. The stock had appeared in the T20 breakout system, a couple of days back as well.   

Reliance Industries: The index heavyweight was buzzing on the bourses and single-handedly, contributed nearly 74 points to Nifty’s kitty.   

Trident: The stock got locked at its upper circuit and also, met the criteria of the T20 breakout system.