T20 breakout stocks: Best swing trading stocks to keep an eye on!
The Indian benchmark indices extended their gains for the third straight day in a row.Â
Wednesday turned out to be a wonderful trading session for the bulls as the Indian benchmark indices extended their gains for the third straight day in a row. Nifty advanced 1.16 per cent to close at the 17,780 mark while Sensex jumped 1.18 per cent to be at the 59,558.83 level.
India VIX crashed over 6 per cent and also, slipped below the 19-mark on Wednesday.
Talking about the sectoral performance, all the sectors ended in the green. Nifty PSU Bank zoomed over 3 per cent and emerged as the top gainer while Nifty Bank was the second-best performing sector as it rose over 2 per cent on Wednesday.
Keeping up with the performance of the headline indices, the broader market indices were also seen buzzing with Nifty Midcap 100 and Smallcap 100 surging over a per cent each.
With volatility abating and across-the-board buying interest witnessed on Wednesday, we have prepared a list of stocks, based on the T20 breakout system, that has the potential to outperform in the near term.
Here is the list of the stocks:
Bank of India: 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!
CCL Products: 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.
IIFL Holdings: 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!
Indian Bank: 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.
NMDC: The stock had met the criteria of the T20 breakout system. It witnessed good movement throughout the day; however, volume activity was quite profound in the second half of the trading session. Hence, it demands attention!
Karur Vysya Bank: 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.