High momentum stocks to keep an eye on 26-April-2023

Tanushree Jaiswal Tanushree Jaiswal

Last Updated: 26th October 2023 - 11:31 am

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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.     

Mishra Dhatu Nigam Ltd: The stock registered a breakout from its consolidation pattern with above-average volume. It has soared over 3% and trades above its key short-term moving averages. It has also formed a bullish candle on the technical chart and indicates positive upside momentum. One must keep a close watch on this stock in the upcoming trading session.

CCL: CCL has marked a fresh all-time high as it surged over 4% during Wednesday’s trading session. The volume recorded has been the highest in many days and greater than the 50-day average volume. Huge volumes are an indication of strong buying activity, while bullish technical parameters indicate strong strength, The Relative Strength of the stock is very bullish and thus, it is expected to trade higher in the next trading session.                                     

Triveni Turbine: The scrip registered a breakout from its ascending triangle pattern and jumped 4% on Wednesday. All of its moving averages are in an uptrend and signifying a positive price structure. The volumes are above average as well. With the stock already at a day’s high, we can expect a good gap-up in the next trading session.

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