High momentum stocks to watch for on August 26

High momentum stocks to watch for on August 26

Indian Market
by 5paisa Research Team Last Updated: 2022-08-25T15:43:24+05:30

Looking for stocks that could deliver good returns by August 26? 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 August 26.

BHEL: The stock has registered a breakout from its trendline with huge volume. It has soared over 8% on Thursday and is above all its key moving averages. The volumes tend to be greater than 50-day average volume. The momentum is strong as it has jumped about 10% in just 3 trading session. Such strong buying interest is likely to continue the upward momentum in next trading session. 

Crompton Greaves: The scrip has surged over 5% and has given a breakout from its triangle pattern. It is backed by huge volume today. It has soared over its 200-DMA and has formed a strong bullish candle. The strong price volume breakout is likely to attract traders and we can expect good momentum in next trading session.

Central Bank of India: The shares gained over 12% in Thursday’s trading session. It took out its prior swing high with huge volume and is also above its 200-DMA. The stock happened to consolidate in a range for some time but has gained strong momentum. Thus, such strong breakout shall be taken positivity.

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