High momentum stocks to keep an eye on 29-May-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.             

Tube Investments of India Ltd: The stock has broken out from its triangle pattern, backed by massive volumes. On Monday, it soared over 3% and witnessed strong buying sentiment. It has already rallied over 6% in the past 3 trading sessions and currently possesses strong upside momentum. With the stock already trading at the day’s high, we can expect a good movement from here on.        

The Anup Engineering: The stock trades at a breakout level and jumped 3% during Monday’s trading session. The volumes remained elevated in recent times and indicate good buying activity. The technical parameters also indicate rising strength in the stock. Such momentum is likely to continue in the next trading session as well.     

Kajaria Ceramics: The scrip is in a strong uptrend, having soared over 25% since the March low. The trend is supported by above-average volumes, indicating active buying.  Moreover, it trades near 52-week high levels. The bullish bias is very well reflected in the volumes, and thus, we expect the stock to outperform the broader market in times to come.