High momentum stocks to watch for June 16!

High momentum stocks to watch for June 16!

by 5paisa Research Team Last Updated: Dec 10, 2022 - 04:35 pm 25.3k Views
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Looking for stocks that could deliver good returns by June 16? 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 June 16.

Au Small Finance Bank: The stock has soared by 3.5% on Wednesday. It witnessed strong buying interest at a lower level of Rs 580 from which it has jumped nearly 8% in just two trading sessions. It has risen above its 200-DMA and has recorded good volumes. With the stock already trading at a day’s high, it has a higher chance of opening gap-up next trading day.

Mahindra CIE Automotive Ltd: The scrip climbed over 3% on Wednesday. It possesses strong bullish momentum, having gained 8% since its previous swing low of Rs 186.10. The volumes are good, and the stock has outperformed the broader market. The technical parameters indicate improved strength and has the potential to trade higher tomorrow.

Aegis Logistics: The stock jumped over 3% in Wednesday’s trading session. With this, it has crossed above its short-term resistance level of Rs 230. Moreover, it has registered double the previous day’s volume. This indicates a large buying interest among the market participants. The stock is above all its key moving averages, and we expect it to trade with positivity from here on.

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