High momentum stocks to watch on Monday!

 High momentum stocks to watch on Monday!

by 5paisa Research Team Last Updated: 2022-04-08T14:39:38+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 on Monday.

M&M: The stock has gained over 2% today. It has been trending strong for the past few days and has gained over 13% since its prior swing low. Moreover, it has crossed above its short term resistance with huge volume. With the stock already trading at a day’s high, the stock is expected to open gap-up next trading session and remain bullish.

SBI Life Insurance Company: The stock has surged over 4% on Friday. On the technical chart, it has formed a strong bullish candle and has crossed above its 100-DMA and 200-DMA with huge volume. The volume is greater than the 10-day and 30-day average volume and indicates strong trading activity. It has also crossed above its prior swing high and is expected to continue its bullish momentum in the next trading session.

ITC: The stock has soared about 3.5% today and has hit a fresh 52-week high. It received strong buying interest at lower levels today and gained momentum sharply thereafter. The volumes have increased recently, and the price structure is quite bullish Thus, we believe that it shall continue its bullishness next trading session.

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