High momentum stocks to keep an eye on 5-April-2023

Tanushree Jaiswal Tanushree Jaiswal 7th September 2023 - 05:09 pm
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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.         

Cyient Ltd: The scrip is in strong momentum lately, having surged over 6% on Wednesday. It has crossed above its prior swing high level and has formed a larger bullish bar on the technical chart. With this, it has also hit a fresh 52-week high level backed by massive volume. With the stock already trading at the day’s high, it is likely to open with a gap-up in the next trading session.         

Coforge: The stock has made a sharp V-shaped recovery on the daily timeframe and has jumped over 10% in just 4 trading days. The volume is found to be above average as well, thus indicating fresh buying interest in the stock. Moreover, the stock has moved above its short-term resistance levels and shows good upside momentum. It is expected to see a further upside.    

JK Lakshmi: This cement stock has jumped nearly 30% since last month’s low. It trades above all the key short and long-term moving average and shows strong trend strength. It has crossed above its prior swing high supported by good volumes. The technical parameters indicate positivity and a strong surge in volume justifies upside momentum. It is expected to attract traders in the next trading session considering the bullish setup.

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