High momentum stocks to watch for on October 10!

High momentum stocks to watch for on October 10!

Indian Market
by 5paisa Research Team Last Updated: 2022-10-07T19:06:20+05:30

Looking for stocks that could deliver good returns by October 10? 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 10.   

Mishra Dhatu Nigam: The stock is displaying strong bullishness across all the timeframes. It has jumped over 6% today and currently trades at its fresh swing high. The volumes have been massive for the past many days, which indicates strong buying interest among market participants. Recently, the stock registered a strong breakout from its cup pattern. Overall, the stock appears extremely bullish and is expected to continue its momentum in the next trading session.

Poly MedicureThe scrip has soared over 6% in Friday’s trading session. From the prior swing low of Rs 845 level, the stock has jumped nearly 20% backed by impressive volumes. It trades above all its key moving averages. It has formed a strong bullish candle on the daily chart and is expected to produce strong momentum in the next trading session.

CG Power: CG Power has seen strong buying at lower levels and has surged over 5% today. The volumes have been good recently and show a rising participation level. A back-to-back bullish candle makes a strong candidate for short-term trading as well. It currently trades at the day’s high and is likely to witness a gap-up in the next trading session.



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