High momentum stocks to keep an eye on 15-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.            

DLF Ltd: The stock has soared over 7% with massive volumes. It has broken out its 19-month cup pattern. Moreover, the technical parameters also show strong strength in the stock and higher volumes indicate strong buying sentiment. With the stock already trading at a day’s high, we can expect a good movement from here on.        

Ujjivan Financial Services:The stock has finally broken out from its triangle pattern as it soared over 6% with above average volumes.  The volumes rose for third consecutive session and stood greater than 50-day average volume. Such momentum is likely to continue in the next trading session as well.     

Polyplex Corporation: The scrip witnessed a strong consolidation breakout as it surged over 5% on Monday and currently trades above its key short term moving averages. The volumes stood massive and multifold, thus showing renewed buying sentiment in the stock. 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.