High momentum stocks to watch for July 08!

High momentum stocks to watch for July 08!

by 5paisa Research Team Last Updated: 2022-12-15T07:29:58+05:30

Looking for stocks that could deliver good returns till July 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 July 08.

Alembic Ltd.: The stock has zoomed nearly 10% on Thursday. it has witnessed strong buying recently, having gained about 20% in the last four trading sessions. There was good buying interest, as indicated by the volumes. Moreover, it trades near to its 100-DMA and is at its day’s high. Thus, the stock is expected to trade higher in next trading session.

Canara Bank: The stock surged over 6% on Thursday’s training session. It has formed a strong bullish candle on the technical chart with its open=low scenario. It has been gaining points from the last 5 trading sessions and has surged about 13%. Above average volume has been recorded today, which likely indicates that the stock is expected to remain positive in upcoming trading session.

Mahindra CIE Automotive: The scrip has soared nearly 6% today. It has registered a breakout from its falling trendline and has also recorded good volumes. It is trading at day’s high and is expected to dominate in coming days. With such positivity, we expect that the stock is likely to maintain its bullish track.

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