High momentum stocks to watch for 08-Feb-2023

resr 5paisa Research Team

Last Updated: 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:

Intellect Design Arena: The stock has surged nearly 5% and broken out from its 8-week consolidation. The volumes registered today has been above average and greater than 30-day average volume. The technical parameters are also indicate strong momentum in the stock. With strong movement emerging, we can expect it to remain positive in the next trading session as well.

Jindal SAW: The scrip has hit a fresh 52-week high level on Wednesday amid strong buying interest. It has jumped over 4% and has formed a bullish bar on the technical chart. Also, the relative strength is positive which shows strong upward momentum. With the stock trading at the day’s high, we can expect a gap-up opening in the next trading session.

JK Cement: The stock trades at the breakout level of its double bottom pattern with good volumes. On Wednesday, it has jumped 4%, aided by good buying activity in the stock at lower levels. 200-DMA has acted as strong support level and the stock is attractive at current stage. It is expected to remain bullish in the next trading session given the bullish reversal.

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