High momentum stocks to watch for Wednesday!

High momentum stocks to watch for Wednesday!

by 5paisa Research Team Last Updated: Dec 14, 2022 - 11:38 am 25.4k Views

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. 

Market participants often 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.

ONGC: The stock has soared by 5% today. With this, it has jumped above its 20-DMA and as well as 200-DMA. In the past six trading sessions, the stock has gained over 15% and recorded above average volumes. With the stock already trading at day’s high, we expect it to open gap-up next trading day.

TVS Motor Company: The stock surged over 1% on Tuesday. It traded lower for most part of the day but received strong buying interest at lower levels. The stock has then shot up nearly 2.50% from its intraday low and registered good volumes. It is trading near its prior swing high, and it can be taken out anytime soon.

Caplin Point Laboratories: The stock jumped over 2% in Tuesday’s trading session. With this, it has crossed above its short term resistance level of Rs 778. Good volumes have been registered lately and the technical parameters show improved strength in the stock. The above factors indicate that the stock is likely to continue its upward journey tomorrow.

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