High momentum stocks to keep an eye on 6-March-2023

High momentum stocks to watch for tomorrow!

Stock Recommendations
by 5paisa Research Team Last Updated: Mar 06, 2023 - 02:53 pm 108 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.         

Mahanagar Gas Limited: The stock registered a breakout from its ascending triangle pattern with massive volume. It has jumped over 8% on Monday and has marked a fresh 52-week high level. The volume stood multifold and greater than 50-day average volume. With the stock trading at day’s high, we can expect the momentum to continue in next trading session as well.

Ingersoll-Rand India: The scrip has broken out from its 15-week cup pattern. It has zoomed over 7% and recorded one of the highest volumes in recent times. The technical parameters indicate strong strength in the stock and shows sharp upmove. The stock has formed a sizable bullish candle on the technical chart, and we can expect it to remain bullish in the given the positivity.       

Gujarat State Petronet Limited: The shares of GSPL has formed a series of higher highs and higher lows on technical chart, It has jumped over 5% and recorded good volumes. It currently near its 52-week high levels and see strong relative strength. Such positivity is likely to be reflected in the next trading session.

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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.

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