High momentum stocks to watch for August 11

High momentum stocks to watch for August 11

Indian Market
by 5paisa Research Team Last Updated: 2022-12-11T09:36:41+05:30

Looking for stocks that could deliver good returns by August 11? 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 11.

JK Paper: The stock has continued its bullish run and has jumped over 8%. After consolidating for 4 trading sessions, the stock has crossed above its short-term resistance level of Rs 400 level. Also, the volume turned out to be huge, and is above 30-day and 50-day average volume. It has hit 52-wek high level on Wednesday and is likely to trend upwards in next trading session as well.

NCC: The scrip surged over 5% on Wednesday. It registered a strong breakout from its falling trendline and has also surged above its 200-DMA. In the past 9 trading sessions, it has soared over 20% with good volumes. The stock is already trading at day’s high and is expected to open gap-up in next trading session.

Hindalco: The shares gained over 4% in Wednesday’s trading session. It has crossed above its consolidating pattern and is above its 100-DMA. The volumes are above average, and is also above its prior swing high. Technically, the stock is quite bullish and is likely to trade higher in next trading session.

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