High momentum stocks to watch for Thursday !
Looking 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.
Market participants often 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.
Hindustan Zinc: The stock has soared by 6% today. It witnessed strong buying interest at a lower level of Rs 280 from which it has jumped nearly 14%. With today’s surge, the stock has crossed above its 50-DMA and is already above its 20-DMA. Interestingly, the volume recorded today is greater than the 10-day, 30-day and 50-day average volume and indicates active participation. With such positivity, the stock is expected to be trading higher tomorrow as well.
HDFC Life Insurance Company: The stock surged over 3% on Wednesday. It possesses strong bullish momentum, having gained points in the past four trading sessions. Since its prior swing low, the stock has jumped over 8% in a week. Rising volumes were recorded for the fourth consecutive day and indicate buying opportunity for the traders. With the stock already trading at a day’s high, we expect the stock to open gap-up tomorrow.
Kotak Mahindra Bank: The stock jumped about 2.5% in Wednesday’s trading session and is one of the top gainers of Nifty stocks. For the fourth consecutive trading session, the stock has been trading higher. Today, it opened with a strong gap-up and continued to trade higher. The volume recorded was above average and it shows no sign of fizzling out. The above factor indicates that the stock is likely to continue its upward journey tomorrow.
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