High momentum stocks to keep an eye on 21-March-2023

High momentum stocks to keep an eye on 21-March-2023

by 5paisa Research Team Last Updated: Mar 23, 2023 - 11:52 am 226 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.     

CSB Bank: The stock has broken out from its double bottom pattern with massive volumes. On Tuesday, it surged over 9%, guided by a huge spurt in volumes. With this, it has crossed above all key moving averages. It has formed a bullish bar on the technical chart and is expected to trade higher in the upcoming session as well.      

Anupam Rasayan: After a slight consolidation, the scrip has jumped over 7% to trade at the prior swing high level. Interestingly the short-term moving average has crossed above its long-term MA and thus indicates a bullish reversal. Moreover, the technical indicators indicate strong strength as compared to the broader market. With the stock already trading at a day’s high, we can expect it to open gap-up in the next trading session.   

Venky's (India) Ltd: The stock has soared nearly 7% and has engulfed the past 14 candles. The volume stood greater than the 50-day average volume. Also, it has crossed above its 20-DMA and looks relatively strong. The bullish bias is very well reflected in the volumes, and thus, we expect the stock to outperform the broader market in times to come.

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