High momentum stocks to watch on Thursday!

High momentum stocks to watch on Thursday!

by 5paisa Research Team Last Updated: 2022-12-09T13:42:09+05:30

Looking for stocks that could deliver good returns by Thursday? 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 Thursday.

Apollo Hospitals: The stock has soared over 2.5% today. It has crossed above its short term resistance level of Rs 4680 and is currently trading at a day’s high. It surged above its key short term moving average and recorded good volume. The stock shows no sign of halting, and it is expected to perform well next trading session.

Railtel: The stock surged about 5.5% on Wednesday. With today’s price action, it is back at short term resistance level of Rs 112. Since its prior swing low, the stock has gained over 30% and recorded huge volume during the process. The volume was found to be greater than the 10-day and 30-day average volume. Thus, the stock is likely to continue the momentum next trading session with good volume. 

ONGC: The stock has jumped over 3% today. With this, it has crossed above the upper limit of consolidatory range and is currently trading at a day’s high. It trades above all the key moving averages and has recorded rising volume for the fourth consecutive day. With such positivity, the stock is likely to trend strong in the next trading session.  


Also read: Best mutual funds for SWP

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