High momentum stocks to watch for June 28!

High momentum stocks to watch for June 28!

by 5paisa Research Team Last Updated: 2022-06-27T14:53:43+05:30

Looking for stocks that could deliver good returns by June 28? 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 28.

Gujarat Ambuja Exports Ltd.: The stock has soared over 8% on Monday. It is undergoing strong momentum lately, having gained over 17% in just two trading sessions. On the technical chart, it has crossed above its 100-DMA and trades near its 20-DMA. The volumes have been huge and suggests strong buying. With such positivity, the stock is expected to be trading higher in next trading session. 

Redington India: The scrip surged over 5% on Monday’s trading session. It has made a V-shaped recovery on the technical chart and has jumped about 20% since its prior swing low. It has moved above its 20-DMA and has recorded rising volume for third consecutive day. With the stock already trading at day’s high, we expect it to open gap-up in next trading session.

Gujarat Narmada Fertilizers and Chemicals Ltd.: Shares of the company jumped nearly 4% on Monday’s trading session. It has crossed above its strong resistance level of Rs 600 and has registered above average volumes. The technical parameters indicate strong strength in the stock, and it is expected to open positively on Tuesday.

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