High momentum stocks to keep an eye on 24-APRIL-2023

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

Many 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 to keep an eye on.        

Nahar Poly Films: The stock broke out from its consolidation pattern at lower levels and it is up over 15% on Monday. Interferingly, it is now above all its key moving averages and has formed a strong bullish candle on the technical chart, The volume has been massive and multifold, thus showing strong buying activity, It is expected to remain bullish in the upcoming trading session as well.

Power Mech Projects: The scrip hit a fresh all-time high on Monday after it soared nearly 7% backed by above-average volumes. The volumes stood greater than the 30-day and 50-day average volumes. Interestingly, all the technical parameters show strong upside momentum. With the stock already trading at a day’s high, we can expect it to open gap-up in the next trading session.

Surya Roshni: The shares of SURYAROSNI are in a strong uptrend, having surged over 30% in a short period. The huge volumes are strong evidence of strong buying interest in the stock. The stock hit a fresh 52-week high level on Monday and traded at the day’s high. We expect the stock to outperform the broader market in times to come given such bullishness.