High momentum stocks to keep an eye on 15-March-2023

High momentum stocks to keep an eye on 15-March-2023

by 5paisa Research Team Last Updated: Mar 15, 2023 - 02:50 pm 120 Views

Looking for stocks that could deliver good returns soon? Here are the High Momentum stocks that one must watch for tomorrow selected on a three-factor model.

Many participants see a stock opening with a gap-up and wish they should have bought this high momentum stock a day before to take advantage of the gap-up move. To fulfil this wish, we have come out with a unique system, which would help us to get the list of candidates that can be probable high momentum stocks for tomorrow.

The high momentum stocks for tomorrow selected are based on a three-factor prudent model. The first important factor for this model is price, the second key factor is the pattern, and last but not least is the combination of momentum with volume. If a stock passes all these filters, it would flash in our system and as a result, it would help traders to spot the high momentum stocks for tomorrow at the right time! 

Here are the high momentum stocks to keep an eye on:         

KPIT Technologies: After a decent correction, the stock has witnessed renewed buying interest as it soared over 7% on Wednesday. With this, it now trades above all its key moving averages, and shows strong relative strength. It has also formed a sizable bullish bar after many days. With the stock trading at the day’s high, we can expect a gap-up opening in the next trading session.  

Kewal Kiran Clothing Ltd: The scrip has formed a higher high and higher lower on the technical chart. It has zoomed over 4% backed by above average volumes. The volumes stood greater than 10-day and 30-day average volume. The technical parameters also indicate rising strength in the stock. We can expect it to remain positive in the next trading session as well.

Chennai Petroleum Corporation Ltd: The stock has crossed above its prior swing high level with massive volume. It has surged over 6% today and has crossed above its 200-DMA. Interestingly, it has also retraced nearly 61.8% from its prior downtrend. With positive price action and bullish technical parameters, the stock is expected to remain bullish in the next trading session.

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