Swing Trading Stocks: Price & Volume Breakout Stocks to Watch on 04 April 2024

The NSE benchmark Nifty 50 index managed to cross the level of 22,500 at one point in the day; however, it failed to sustain above the 22,500 mark as it slipped more than 80 points from the day’s high and ended in the red for the second successive trading session on Wednesday. On the daily chart, the Nifty has formed a higher high and lower low candle. On Wednesday, the broader markets outperformed for yet another trading session with the Nifty small-cap jumping more than 1%, while Mid-cap added a little over 0.5%. Market breadth was healthy with 1564 stocks advancing on NSE, while 552 stocks declined.

Here are the top 3 stocks with the highest single-day volume in the last 30 trading sessions, accompanied by strong closings, indicating potential opportunities for swing trading:

1. Indian Metals & Ferro Alloys

The stock price of Indian Metals & Ferro Alloys jumped nearly 13% on Wednesday, and the stock logged a fresh 52-week high of Rs 745 on NSE. The stock recorded its highest ever volume in history as the total traded volume for the day was 32.67 lakh shares on NSE. A strong price move backed by robust volume is a sign of bullish structure, and hence, swing traders can take note of this stock.

2. IDBI Bank

IDBI Bank’s stock price surged over 5% on Wednesday. The stock opened the session at Rs 83.25 and made an intraday low of Rs 82.70. However, robust buying in the last leg of trade helped the stock witness a huge volume spurt along with a price rise, and the volume was above the 10 and 30-days average. Keep this stock on your watchlist.

3. OnMobile Global

The stock price of OnMobile Global logged a double-digit gain of almost 12%, and with this strong up-move, the stock has reclaimed its important short-term moving average of 20-DMA. The stock recorded the highest single-day volume of 46.13 lakh shares on NSE, which is almost a four-fold jump compared to its 30-days average volume. Swing traders, keep this stock on your watchlist.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. The information is based on various secondary sources on the internet and is subject to change. Please consult with a financial expert before making investment decisions.