High momentum stocks to watch for tomorrow!

High momentum stocks to watch for tomorrow!

by 5paisa Research Team Last Updated: Dec 09, 2022 - 05:11 pm 32.1k Views

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. 

Canara Bank: The stock has soared about 5% today. With this, it has taken out its short term resistance of Rs 230, which also happens to be its 50-DMA. The stock has formed a strong bullish candle and has recorded above average volumes, demonstrating larger trading activity. With such strong price action, the stock is expected to continue the bullish momentum tomorrow as well.

Credit Access: The stock has surged nearly 4% today. It has hit a fresh 52-week high of Rs 892 and trades near this level. It has attracted huge volumes lately and has a bullish price structure. Thus, we expect the stock to remain bullish tomorrow as well.

Federal Bank: The stock has soared over 4% on Friday. It has decisively broken out from its falling trendline and has recorded huge volume during the process. It took the support of 20-exponential MA and has gained a solid momentum thereafter. With the stock already trading at day’s high, we expect the stock to open gap-up tomorrow.

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