High momentum stocks to watch for Thursday!

High momentum stocks to watch for Thursday!

by 5paisa Research Team Last Updated: 2022-05-11T16:45:17+05:30

Loooking for stocks that could deliver good returns by Thursday? Here are the High Momentum stocks that one must watch for tomorrow selected on a three-factor model.

Many times market 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 Thursday.

Balaji Amines: The stock has soared by 6% today. In was undergoing strong correction period and found strong support at the level of Rs 2700. The stock has jumped over 14% from its intraday low and has recorded above volumes during the process. The volume is found to be greater than 10-day, 30-day, and 50-day average volume. With this, it has surged above its 50-DMA. With strong buying emerging towards the end, the stock is expected to gap-up next trading session.  

Siemens: The stock has surged over 2.5% on Wednesday. Since its prior swing low of Rs 2150, the stock has gained about 10% in just three trading sessions. The price action is accompanied by above-average volume and the stock has surged about its 200-DMA as well as 20-DMA. Such bullish signs indicate high momentum of the stock.   

ONGC: The stock jumped about 3% on Wednesday’s trading session. It continued to trade higher throughout the day and witnessed good buying interest. On the technical chart, it has formed a strong bullish candle. With the stock already trading at day’s high, chances of opening with a gap-up is higher for the stock.


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