Indian markets ended in red with Nifty and Sensex losing nearly 1 per cent on Thursday. With this, Nifty recorded its highest single-day fall post April 30. Nifty Midcap 100 and Smallcap 100 relatively outperformed the frontline indices on Thursday as they logged losses of 0.42 per cent and 0.04 per cent, respectively. The volatility index i.e. India VIX jumped more than 11 per cent. Going ahead, the stock selection would be crucial for traders and hence, we have pulled out a list of stocks, which should be on your watchlist for swing trading.
An important point to note here is that these stocks are filtered using price action and volumes. Volume is greater in the last 20 days while the price closed at a 20-day high. We have named it as ‘Twenty-20 breakout system’.
So, here is the list of stocks:
Coforge: The stock of Coforge was buzzing on the bourses since the afternoon trading session when the markets were reeling under selling pressure. The bulk of the volume for the stock was seen in the last couple of hours of trading while the stock recorded a fresh all-time high. Hence, on a day of a fierce sell-off, this stock was standing tall & strong! Burger King: This stock met the criteria of the Twenty-20 breakout system. The opening of the day was the lowest point of the day in the stock and thereafter, the stock went on to touch the high of Rs 180.40. However, it retreated from the highs of the day but again in the last half an hour of trade, buying was witnessed in the stock. Trent: The stock moved fiercely in the first half of the trading session but momentum waned as selling pressure intensified in the markets. However, in the last hour of the trade, the stock witnessed a smart pullback and hence, it could see a good action in the coming days.