High momentum stocks to watch for July 06!

High momentum stocks to watch for July 06!

by 5paisa Research Team Last Updated: Dec 15, 2022 - 02:27 pm 22.6k Views

Looking for stocks that could deliver good returns by July 06? Here are the High Momentum stocks that one must watch for tomorrow selected on a three-factor model. 

Market participants often 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 July 06.

AstraZeneca Pharma: The stock soared nearly 7% on Tuesday. It gained strong momentum on July 5 and has crossed above its key moving averages. The volumes recorded are huge and are greater than 10-day, 30-day and 50-day average volumes. With the stock trading at a day’s high, it is expected to maintain its bullishness in the next trading session. 

Teamlease: The scrip surged over 4% on Tuesday’s trading session. It has attracted good volumes today and it has soared above 50-DMA. Interestingly, the stock witnessed strong buying and has jumped about 18% from its recent swing low. Such positivity is expected to continue in the next trading session.

Asahi India Glass Ltd: Shares of the company jumped over 6% in Tuesday’s trading session. The stock is in a steady uptrend, having gained about 38% from its recent swing low. Moreover, it has crossed above its short-term resistance level of Rs 560. The volumes recorded were huge in the past few trading session, and we can expect a good move from here on.

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