High momentum stocks to watch for August 02!

High momentum stocks to watch for August 02!

by 5paisa Research Team Last Updated: Dec 13, 2022 - 07:18 pm 20.5k Views
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Looking for stocks that could deliver good returns by August 02? 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 for August 02.   

Rain Industries: The stock soared over 8% on Monday. In recent times, the stock has shot up o er 35% from its prior swing low of Rs 142 and recorded above average volumes. It is above all its key moving averages and is expected to remain bullish in next trading session.

Elgi Equipment: The shares surged over 7% in Monday’s trading session. It broke out from its consolidation pattern and is above all its key moving averages. Interestingly the volumes have risen for third consecutive day, which is a bullish sign. Thus, it is likely to move further on August 02.

Ujjivan Small Finance Bank: The scrip has jumped over 8% today. It has moved above its prior swing high of Rs 20, and registered good volumes. Currently, the stock shows strong business, having jumped over 50% from its prior swing low. With the stock already trading at day’s high, we can expect it to gap-up in next trading session

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