High momentum stocks to watch for tomorrow!

High momentum stocks to watch for tomorrow!

by 5paisa Research Team Last Updated: 2022-03-16T14:43:40+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. 

CONCOR: The stock has soared over 4% on Wednesday. It has crossed above its short term resistance level of Rs 600 with huge volume, demonstrating larger trading activity. Tit is above its 20-DMA and has received strong buying interest at lower levels. The stock is trading at a day’s high, and we can expect it to continue the upside momentum tomorrow as well.

Federal Bank: The stock has jumped over 5% today. It trades above its prior swing high of Rs 97. The stock was seen consolidating in a narrow range for the past few days. With today’s strong price action, the stock has attracted buying interest and is already trading at day’s high. Moreover, it has recorded huge volume during the process. The stock is likely to keep up the momentum tomorrow as well.

Indian Hotels: The stock has soared over 4% on Wednesday’s trading session. It found a good support at its 20-DMA and has jumped by 5% since its day’s low. Moreover, the stock has recorded three times the previous day’s volume. On the technical chart, the stock has formed a strong bullish candle accompanied with above average volume. Thus, the stock is expected to be bullish for next day.

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