High momentum stocks to keep an eye on 22-March-2023

High momentum stocks to keep an eye on!

by 5paisa Research Team Last Updated: Mar 23, 2023 - 10:18 am 191 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.    

Anupam Rasayan: The stock is in a strong short-term uptrend, having surged over 12% in just two trading sessions. The volumes recorded are multifold and show strong buying sentiment in the stock. Interestingly, the short-term MA has crossed above its long-term MA and indicates short-term positivity. It is expected to trend higher in times to come given such bullishness.          

Linde India: The scrip surged nearly 3% on Wednesday and has formed 5 consecutive bullish bars on the technical chart. The volumes remained good, and the stock has also surged above the 61.8% retracement level of its prior downtrend. With the stock showing no signs to halt, it is expected to open positively in the next trading session.

AGI Greenpac: The stock has surged over 5% today backed by massive volumes. It currently trades at the breakout level of its 27-week cup pattern and near its 52-week high levels. Also, all the key MAs are pointing upwards, thus showing bullishness across all timeframes. With such renewed buying interest, the stock is likely to see a good upmove in times to come.

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