High momentum stocks to watch for Wednesday!

High momentum stocks to watch for Wednesday!

by 5paisa Research Team Last Updated: Dec 14, 2022 - 08:33 am 26.5k Views
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Looking for stocks that could deliver good returns by Wednesday? 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 Wednesday.

CDSL: The stock has soared about 12% today. Since its prior swing low, the stock has gained over 22% in just four trading sessions. It has risen over its 20-DMA and has recorded strong volumes. Moreover, it has surged above its prior swing high of Rs 11478.55. Considering the above points, it is expected to remain bullish tomorrow as well.

Bharat Forge Limited: The stock surged nearly 5% on Wednesday. From the level of Rs 653, the stock has witnessed strong buying due to which it has rallied about 10%. Above-average volumes were recorded today which is greater than 10-day and 30-day average volume. With the stock already trading at a day’s high, it is expected to trade higher tomorrow.

Mahindra and Mahindra.: The stock has soared over 3.70% in Tuesday’s trading session. With this, it has hit its fresh all-time high of Rs 1043. The volumes have been high lately and the stock is in strong uptrend. Considering its price action, the stock is likely to open gap-up tomorrow.

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