High momentum stocks to watch for August 04!

High momentum stocks to watch for August 04!

by 5paisa Research Team Last Updated: Dec 10, 2022 - 06:03 pm 20.3k Views
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Looking for stocks that could deliver good returns till August 04? 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 04.

PAYTM: The stock has jumped over 7% and the stock has formed a sizable bullish candle along heavy volume. The volume is greater than 10-day, 30-day and 50-days average volume. The stock is trading above its 20, 50 and 100-DMA and moreover, these moving averages are in desired sequence. Considering the above factors, we expect the stock to continue its momentum in the next trading session.

Grindwell: The stock has registered a fresh high on Wednesday as it has gained over 3% and it has crossed its important psychological mark of Rs 2000. Talking about the volumes, the stock has already surpassed its prior trading session volume and the volume for the day is greater than its 10-day, 30-day and 50-days average volume. The stock is making higher high and higher low, which is positive for the stock. The stock is likely to continue its move forward and hence, keep a close eye on this stock.

Carboruniv: The stock is up by nearly 2% on Wednesday. Interestingly, the stock had formed an inside bar in the prior trading session and on Wednesday, the stock moved above its inside bar high which was accompanied by robust volume. the stock has already surpassed its prior trading session volume and the volume for the day is greater than its 10-day, 30-day and 50-days average volume, which indicates strong buying interest among the participants. We expect some good move in next trading session.

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