High momentum stocks to watch for on October 06

High momentum stocks to watch for on October 06

by 5paisa Research Team Last Updated: Dec 11, 2022 - 06:37 am 14.1k Views
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Looking for stocks that could deliver good returns by October 06? 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 October 06.

M&M Financial Services: The stock has made a strong recovery after consolidating at lower levels. It has jumped over 11% during Tuesday’s trading session, backed by rising volume. Strong buying interest has propelled the stock higher and is currently trading at day’s high. We can see upward move in next trading session considering strong buying activity held on Tuesday.

IDFC First Bank: The scrip rose over 9% during Tuesday’s trading session to hit a fresh 52-week high level of Rs 54.15 on NSE. IT is in a strong uptrend, having surged nearly 20% in the past 4 trading sessions. The volumes have been above average during this period, which shows active institutional participation. It is expected to continue its momentum in the next trading session as well.

JK Tyre: The stock registered a strong price volume breakout from its consolidating pattern and has surged over 8% on Tuesday. The volume recorded is massive and the stock is now trading above all its key moving averages. IT has formed a big bullish bar and is expected to see a gap-up opening in next trading session considering such positivity.

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