High momentum stocks to watch tomorrow!

High momentum stocks to watch tomorrow!

by 5paisa Research Team Last Updated: 2022-12-12T09:04:03+05:30

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

Many of the time 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 tomorrow.

Deepak Fertilizers: The stock has surged over 5% in Thursday’s trading session. It traded exceptionally well in the last four days and gained about 23% during this period. Moreover, the stock hit a fresh all-time high and trades near day’s high. Rising volumes have been recorded in the past four days which highlights large participation. The stock is expected to continue with the same momentum and be bullish for the next day.

Tata Chemicals: The stock has formed a strong bullish candle on the chart as it rose over 2.5% today. For five trading days, the stock is showing extremely bullish momentum. The price action is accompanied by huge volume which is greater than 10-day and 30-day average volume. With the stock already trading near day’s high, it is expected to continue the momentum for the upcoming day.

Tata Steel: The stock jumped nearly 6% on Thursday. It surged above its prior swing high of 1200 and indicates a bullish sentiment. Along with this, the RSI has entered bullish territory. Huge volume has been recorded today which validate the bullish nature of the stock. With open=low and trading near day’s high, the stock is expected to continue the momentum and has a higher chance of an opening gap-up next week.

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