High momentum stocks to keep an eye on 23-Feb-2023

High momentum stocks to keep an eye on!

by 5paisa Research Team Last Updated: Sep 07, 2023 - 05:09 pm 567 Views
Listen icon

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:        

Sonata Software: The stock continued its uptrend on Thursday and has soared nearly 6%. The volume recorded has been above average and greater than the 30-day and 50-day average volume. All its key moving averages are in an uptrend and indicate strong bullishness across all timeframes. We can expect it to remain positive in the next trading session as well.

Indus Tower: The scrip registered a strong price volume breakout from its consolidation pattern, rising over 4% backed by rising volume. It has formed a strong bullish bar on the technical chart and technical parameters also indicate strong strength in the stock. With the trading at the day’s high, we can expect a gap-up opening in the next trading session.         

Equitas Bank: The stock has jumped nearly 8% and has marked a fresh 52-week high level. The volumes have been massive lately and indicate strong buying activity in the stock. The 14-period daily RSI shows strong trend strength. With positive price action and bullish technical parameters, the stock is expected to remain bullish in the next trading session.

How do you rate this blog?

or

Start Investing in 5 mins*

Rs. 20 Flat Per Order | 0% Brokerage

oda_gif_reasons_colorful

About the Author

Our research team is composed of some highly qualified research professionals, their expertise range across sectors.

Disclaimer

Investment/Trading in securities Market is subject to market risk, past performance is not a guarantee of future performance. The risk of loss in trading and investment in Securities markets including Equites and Derivatives can be substantial.
Open Free Demat Account
Resend OTP
Please Enter OTP
Mobile No. belongs to

By proceeding, you agree to the T&C.

Latest Blogs
Weekly Outlook on Copper - 01 December 2023

Copper prices saw a modest 0.33% gain, reaching 722 on Thursday, as worries about a slowdown in Chinese manufacturing loomed large. The November's NBS Manufacturing PMI slipped to 49.4, the second consecutive monthly decline, heightened concerns, emphasizing the need for additional government support to fortify China's economic growth. The NBS Non-Manufacturing PMI at 50.2, reflecting the 11th month of service sector expansion, hinted at a softer pace.

Swing Trading Stocks: Week of 04 December 2023

Swing Trading Stocks for the Week

Weekly Market Outlook for 04 December to 08 December

Our markets started the truncated week on a positive note and it rallied higher throughout the week. The first day of the December month infact witnessed a new record as the Nifty surpassed its previous high and ended in uncharted territory above 20250 with weekly gains of almost two and a half percent.