High momentum stocks to watch for September 29!

High momentum stocks to watch for September 29!

Indian Market
by 5paisa Research Team Last Updated: 2022-09-28T14:50:05+05:30

Looking for stocks that could deliver good returns by September 29? 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 September 29.

ITI: The stock made a strong V-sharped recovery on the daily chart and has jumped over 9% on Wednesday. Moreover, the volume recorded today has been higher in many days. It has also crossed above its 38.2% retracement level from its prior downtrend which is a positive sign. It is above all its key moving averages and is likely to trend in next trading day.

India Cement: The stock surged over 8% amid strong buying interest from the investors. It has formed bullish engulfing candle on the daily chart. It is back above 20-DMA and with above average volume. With the stock already trading a day’s high, we can expect the stock to open positively in next trading session.

Zydus Lifesciences: The stock has bounced over 3% from lower levels. The volume recorded today has been twice the previous day’s volume. It has formed a strong bullish candle on the technical chart and is above its short term moving averages. It is expected to move positively in the next trading session.


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