High momentum stocks to keep an eye on 24-Feb-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.  

Mahindra CIE Automotive: The stock has marked a fresh all-time high level on NSE after it soared over 12% on Friday. The volume recorded was massive and was greater than the 50-day average volume. The technical chart comprises a series of higher highs and higher lows and thus signifying an uptrend, It is expected to trend higher in times to come given the positivity.

GAIL: The scrip currently trades at the prior pivot and has soared over 5% amid strong buying interest. It has formed a strong bullish bar on the technical chart and volumes have been above average in the past few days. Recent price action suggests rising upward momentum and, it is expected to trend higher in the next trading session.

Jindal SAW: The stock continues its steady uptrend, having soared over 75% in the past 4 months. it has broken out from its 82-week cup pattern and shows strong momentum on all the timeframes. The volumes have been good recently, which supports the bullish bias. With the stock already trading at the day’s high, we can expect a good upward movement in the next trading session.