High momentum stocks to keep an eye on 3-March-2023

High momentum stocks to watch for tomorrow!

Stock Recommendations
by 5paisa Research Team Last Updated: Mar 03, 2023 - 03:05 pm 133 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:

State Bank of India: The stock continued its uptrend on Friday and has soared over 5%. It registered a solid breakout from its double bottom pattern.  The volume stood above average and greater than 30-day average volume. We can expect it to remain positive in the next trading session as well.

RHI Magnesita: The scrip surged over 4% during Friday’s trading session and recorded good volumes. It has crossed above its prior swing high and has formed a strong bullish bar on the technical chart. The technical parameters also support the bullish bias of the stock. With the trading at the day’s high, we can expect a gap-up opening in the next trading session.

TD Power Systems: The stock registered 8-week cup pattern breakout with massive volume. It has hit a fresh all-time high level on Friday as it soared over 7% during the session. 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.

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


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