High momentum stocks to watch for tomorrow!

High momentum stocks to watch for tomorrow!

by 5paisa Research Team Last Updated: Dec 10, 2022 - 06:27 pm 39.2k 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.    

Triveni Turbines: The stock has skyrocketed nearly 15% on Tuesday. It has formed a bullish engulfing pattern and in trading near its all-time high. It witnessed huge buying interest at the lower levels which propelled the stocks above its prior swing high. With above average volume being recorded in the past few days, the stock looks set to test its all-time high levels. With the stock already trading near day’s high, it is expected to open gap-up on Thursday.

Axis Bank: The stock has soared over 6% on Tuesday and is the top gainer among Nifty stocks. This price action is backed by the volume which is about four-fold the previous day’s volume. The stock has taken out its prior swing high and is extremely bullish for very short term. The stock is trading day’s high, and this momentum is likely to continue the next trading session. Traders can consider hopping in the stock for some quick profits.

Federal Bank: The stock has surged nearly 5% and continues the bullish momentum till the end. The stock had formed a base near 90-91 levels from where it witnessed huge buying interest. Volumes have shot up for fourth straight day and the stock is likely to be bullish for next day.

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