High momentum stocks to watch for tomorrow!

High momentum stocks to watch for tomorrow!

by 5paisa Research Team Last Updated: 2022-12-13T17:08:26+05:30

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

Many of the time 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 tomorrow.    

Larsen & Toubro: The stock has surged over4.5% on Tuesday. It has formed a strong bullish candle and has crossed above its prior swing high. In the past few days, the stock had recorded above average volume which highlights increasing market participation. Moreover, it witnessed buying interest at lower levels in two days. With such bullishness, the stock is expected to be trading higher tomorrow.  

Aditya Birla Fashion and Retail Limited: The stock has soared over 4% on Tuesday. It is up for third consecutive trading session. Durin this period, the stock has recorded good volumes. It witnessed strong recovery from its 50-DMA and is seen trading near prior swing high. The stock is already trading near day’s high, and we expect the stock to continue the same momentum on the upside on Wednesday.

Tata Steel: The stock has ascended over 7% and is one of the top gainers among Nifty stocks. The stock has formed a base at Rs 1060 and has bounced back strongly thereafter. It has crossed above its 20-DMA & 50-DMA, which indicates short term bullishness. With the stock trading at day’s high, we can expect a gap-up next day. Thus, traders can consider the stock for quick profits.

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