High momentum stocks to watch for Friday!

High momentum stocks to watch for Friday!

by 5paisa Research Team Last Updated: May 12, 2022, 03:02 PM IST

Looking for stocks that could deliver good returns by Monday? Here are the High Momentum stocks that one must watch for tomorrow selected on a three-factor model.

Many times market 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 Friday.      

KRBL: The stock has soared about 7% today. Despite weakness persisting in the market, the stock has managed to attracted buyers and it has crossed above its 50-DMA. Moreover, it recorded above average volume during this process.  It has strong support at lower levels from which the stock has bounced back before. Considering the above points, the stock is expected to remain bullish tomorrow as well.

DCM Shriram: The stock has surged nearly 4% on Thursday. From the level of Rs 975, the stock has witnessed strong buying due to which it has rallied about 6%. Above average volumes were recorded in the last two days. With this, the stock managed to move past its 200-DMA. With the stock already trading at day’s high, the stock is expected to trade higher tomorrow. 

Gujarat Gas Ltd.: The stock has soared over 3.50% on Thursday’s trading session. Interestingly, the stock has given a breakout from its double bottom pattern. Volumes are higher today, and the stock has formed a strong bullish candle on the technical chart.  The stock has remained resilient to market fluctuations, and is expected to open gap-up tomorrow.

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