High momentum stocks to watch for on October 12!

High momentum stocks to watch for on October 12!

Indian Market
by 5paisa Research Team Last Updated: 2022-10-11T15:02:23+05:30

Looking for stocks that could deliver good returns by October 12? 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 12.

Star Cement: The stock has registered a strong price volume breakout, having soared over 4% on Tuesday. It has crossed above its prior swing high with above-average volume in a weak market. Moreover, it trades above all its key moving averages, which is a positive sign. The stock is expected to soar higher in the next trading session considering such a positive breakout.

Kalpataru Power Transmission: The scrip had been consolidating in a wide range for the past many weeks. Interestingly, it has jumped nearly 4% today and has crossed its upper limit. The volume has been massive which suggests strong buying interest among the traders. With such positivity, the stock is expected to trend higher in the next trading session.

Shipping Corporation of India: The stock has seen strong buying interest at lower levels, having bounced 10% in the past 2 weeks. On Tuesday, it surged 3% and formed a strong bullish candle on the daily chart. Interestingly, volumes have risen for the fifth consecutive day, which indicates a rising participation level in the stock. Also, the stock is above its key moving average. Overall, it shows positive signs, and we can expect it to open positively in the next trading session.

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