High momentum stocks to watch for tomorrow!

High momentum stocks to watch for tomorrow!

by 5paisa Research Team Last Updated: Dec 13, 2022 - 10:46 pm 35.7k Views
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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.

NHPC: The stock of NHPC has surged over 4% on Wednesday. It found a strong base near 27-28 levels and has shot up significantly from there. This price action is accompanied by above average volume, which is greater than 10-day and 30-day average volume. The stock is trading at day’s high, and it is expected to continue the upward path tomorrow as well.

Devyani International: The stock has soared nearly 5% today. Wirth this, it has crossed above its 50-DMA with heavier volume. The stock has gained nearly 15% since its recent swing low and is trading stronger. Above average volume has been recorded lately which justifies the buying interest among the market participants. Considering ongoing momentum, the stock is expected to open gap-up tomorrow.

HDFC Life: The stock has jumped over 5% today. On the daily timeframe, the stock has formed a bullish engulfing pattern. Moreover, it has recorded huge volume since past many months. The stock was beaten down lately and today’s strong price structure indicates signs of reversal. Thus, the stock is likely to perform better in upcoming trading session.

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