High momentum stocks to watch for tomorrow!

High momentum stocks to watch for tomorrow!

by 5paisa Research Team Last Updated: May 09, 2022, 03:46 PM IST

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.

Powergrid Corporation of India: The stock has soared over 2% today. It is undergoing strong bullish momentum and has gained over 10% since its prior swing low. Moreover, it has hit a fresh 52-week high of Rs 244.80 and recorded huge volumes during the process. With such bullish signs, the stock is expected to trade higher tomorrow.

HCL Technologies: The stock has surged over 3% in Monday’s trading session. It was undergoing strong correction mode but has witnessed huge buying interest today. Above-average volumes were recorded. The stock is at a good pricing level, as indicated by the surge in volume. Thus, buying spree is expected to continue and it is expected to be bullish for next day.

Industower: The stock has soared about 3% on Monday. It has bounced back from a strong support level of Rs 195, from which it has taken multiple supports before. It crossed above its previous day’s high and is bullish. The volumes have risen for the third consecutive day and indicate strong trading activity. With the stock already trading at a day’s high, we expect it to remain bullish next day.

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