High momentum stocks to watch for tomorrow!

High momentum stocks to watch for tomorrow!

by 5paisa Research Team Last Updated: Dec 14, 2022 - 02:03 am 33.3k 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.

Lemon Tree: The stock has skyrocketed over 9% today. Along with today strong price action, the stock has recorded huge volume and demonstrates strong trading activity. Today, it has hit the day’s high of Rs 61.20 which happens to be its 52-week high. With the stock being traded at such huge quantity at its 52 -week high, the stock is expected to continue the rally next day.

JSW Steel: The stock has soared about 1.2% on Friday and is trading at day’s high. On the technical chart, the stock has witnessed buying interest at lower levels and has recovered sharply from its day low. This recovery is accompanied by huge volume which is greater than 10-day, 30-day and 50-day average volume. The stock shows no signs of halting and is expected to open gap-up next trading session.   

Hikal: The stock has soared nearly by 5% in Friday’s trading session. It opened with a good gap-up and continue to rise and volumes build-up as the day progressed. It is currently trading at day’s high and near its short term resistance of Rs 420. With above average volumes recorded, we can expect the stock to continue the upside momentum next trading session as well.

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