High momentum stocks to watch for Tuesday!

High momentum stocks to watch for Tuesday!

by 5paisa Research Team Last Updated: 2022-04-25T15:07:43+05:30

Looking for stocks that could deliver good returns by Monday? 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 Tuesday.

Tube Investments of India: The stock has soared about 4% today. With this, it has taken out its short term resistance of Rs 1780 which it had tested several times. 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.

Schneider Electric: The stock has surged nearly 3% on Monday. After the breakout from its falling trendline, the stock has seen a strong buying interest. It has hit a fresh 52-week high of Rs 153.85 and registered strong volumes. The volume was found to be greater than the 10-day, 30-day, and 50-day average volume. Despite the overall weakness in the market, we expect the stock to remain bullish tomorrow as well.

Bajaj Auto: The stock has soared over 1% on Monday’s trading session and was one of the top gainers among the Nifty stocks. On the technical chart, the stock has formed a bullish engulfing pattern and has recorded above-average volumes. With the stock trading near its day’s high, we expect the stock to trade higher tomorrow.

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