High momentum stocks to watch for on October 07!

High momentum stocks to watch for on October 07!

Indian Market
by 5paisa Research Team Last Updated: 2022-10-06T14:51:40+05:30

Looking for stocks that could deliver good returns till October 07? 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 07.

Bharat Forge: The stock made a strong recovery from lower levels and jumped over 8% on Thursday. With this, it is now above all its key moving averages. Moreover, it has formed a strong bullish candle which is a positive sign. The volume recorded today has been above average and shows strong buying interest. With such positivity, it is likely to be in focus for the next trading session.

Persistent Systems: The scrip had formed a triple bottom-like structure on the daily chart. It has seen strong buying activity today as it soared over 7%. The volumes rose for the fourth consecutive day and remained above average. The stock trades above the prior swing high and depicts bullishness. With the stock already trading at a day’s high, we can see a gap-up opening in the next trading session.

Praj Industries: The stock has broken out from its 24-week cup and handle-pattern structure and saw a massive upside today, having surged over 6% to hit a fresh 52-week high. The volume recorded today has been one of the biggest in many months. The stock is in a strong uptrend, and one can expect it to continue its bullish trend in the next trading session.


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