High momentum stocks to watch for August 08

High momentum stocks to watch for August 08

by 5paisa Research Team Last Updated: Dec 11, 2022 - 03:32 pm 20.1k Views
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Looking for stocks that could deliver good returns till August 08? 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 08.

Manappuram Finance: The stock surged over 6% in Friday’s trading session. With this, it has crossed above the prior swing high and is above its 100-DMA. The volume recorded today has been quite large and above the 50-day average volume. Moreover, it is over 5 times the previous day’s volume. The stock is well off from its prior swing low and we can expect it to remain bullish in the next trading session.

Interglobe Aviation: INDIGO jumped nearly 5% on Friday. It is in a strong uptrend, having soared over 38% in just over a month. The volumes have been higher lately, which indicates strong buying interest among the market participants. With the stock already near its day’s high, the stock is likely to gap-up in the next trading session.

Tata Communications: The scrip climbed over 4% in Friday's trading session. After consolidating for 11 days, it finally showed positivity by breaking out from its consolidating pattern. During this, it has recorded above-average volumes, which justifies the breakout. The stock is trading at a day’s high and is likely to gap-up in Monday's trading session.

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