High momentum stocks to keep an eye on 12-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.     

National Fertilizers Limited: The stock has registered a strong breakout from its triangle pattern with massive volumes. It has surged over 13% to hit a fresh 52-week high level. The volumes have turned out to be multifold and greater than the 50-day average volume. It is expected to trend higher in times to come given such bullishness.

NAM India: After a steep downtrend, the stock has crossed above its falling trendline with good volumes. It jumped over 4% on Wednesday and currently trades above all the short-term moving averages. It has formed a strong bullish bar on the daily timeframes and trades near the day’s high. With the stock showing no signs to halt, it is expected to open positively in the next trading session.

Balaji Amines: The scrip is in a strong uptrend, having soared over for the sixth successive trading session. It has gained nearly 25% during this period and volumes stood above average. The technical parameters suggest strong momentum in the stock for the near term. With such renewed buying interest, the stock is likely to see a good up move in times to come.