High momentum  stocks to watch for tomorrow!

High momentum stocks to watch for tomorrow!

by 5paisa Research Team Last Updated: 2022-05-06T14:57:41+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 times 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.

Equitas Small Finance Bank: The stock has soared over 2.50% today. It witnessed a strong recovery from lower level and has surged about 5% from its intraday low. It has crossed above its 20-day EMA and is trading at day’s high. Moreover, it has recorded rising volume for third consecutive day. Thus, the stock is expected to continue its momentum on the higher side next trading session.

Tech Mahindra: The stock has soared over 2.26% on Friday. After a strong correction, the stock has seen a bounce back from lower levels from the past three trading sessions. During this period, above average volumes were recorded, indicating buying interest in the stock. The stock is trading at day’s high, and we expect it to trade higher on Monday.

ITC: The stock has surged about 1.5% today. It was consolidating near its 20-DMA for past few trading sessions. Today, it has crossed above its upper limit of the range and is trading at day’s high. Today’s price action is backed by strong volumes. It trades above all the key moving averages and the stock is expected to be bullish next day.

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