• : May 9, 2021
  • : B. Krishnakumar
 
Volume Scanner: Interesting Candidates
 
This week, I wanted to do write about something that is relatively easy to read and understand. I used the Volume Scanner feature in the Smart Scanner section to identify candidates where there was a sharp spike in volume and a sharp rise in price too. 

I shortlisted candidates where the volume on Friday was more than 50% of the 5-day average volume. Within this group, I wanted to focus on the candidates where the rise in price was more than 4%. Again, you can choose different parameters to suit your convenience.

The idea here is to look for stocks where there is a spike in volume with jump in price. Here are some interesting stocks from the list. 



Out of the list, I wish to highlight a few stocks that I find interesting. They are BASF, Flourochem, MMTC, National Aluminium, NMDC and Hindustan Copper.

Here is a quick look at Hindustan Copper chart.



The moving averages are rising, and in the Point & Figure chart, a bullish ABC pattern is completed. Here is the P&F chart.



This is a stock from the outperforming metals sector and the price volume action is favourable too. You can check the charts of other sectors too and do further analysis and short list candidates.

You can save this list to a separate group and then run your favourite scanners too to shortlist candidates. The possibilities are infinite.