High momentum stocks to watch for Tuesday!

High momentum stocks to watch for Tuesday!

by 5paisa Research Team Last Updated: 2022-05-13T15:07:25+05:30

Looking for stocks that could deliver good returns by Tuesday? Here are the High Momentum stocks that one must watch for tomorrow selected on a three-factor model.

Many 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.

Ashok Leyland: The stock has soared over 4% today forming a base at around 116-level and has bounced back sharply from there. It has hit a high of Rs 126.15 and has crossed above its 20-DMA, 50-DMA, and 100-DMA. Moreover, it has recorded a huge volume during the process. This bullish momentum is expected to continue next trading session as well.  

IFB Industries: The stock surged by a massive 10% on Thursday. It has also crossed above its short-term resistance of Rs 910 level. On the technical chart, it has surged above its 20-DMA and recorded above-average volume, which is greater than the 10-day and 30-day average volume. With the stock trading near day’s high, the stock is expected to open gap-up next trading session.

Union Bank of India: The stock jumped about 8% on Friday's trading session. After a strong downtrend, the stock has finally seen buying interest at lower levels. The volumes have risen for the third consecutive day, indicating larger participation. Moreover, the stock was quite oversold and thus, it is expected to trade higher.

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