Technical & Price Action
Momentum Top-20 Ranking is a Technical & Price Action screen. It checks every NSE-listed stock against 1 condition computed from nightly data, after excluding heavily pledged promoters and very small market caps. This page explains the rule, each figure and its source. It lists no stocks and is not advice.
The 12-1 month momentum signal — buying the top performers from 12 months ago to 1 month ago (excluding the most recent month to avoid short-term reversal contamination) — is among the most rigorously researched and replicated factors in academic finance. Jegadeesh and Titman (1993) documented the effect in the US; subsequent research confirmed it across India, Europe, and other Asian markets. This screener makes the momentum factor a standalone ranked output, showing the top 20 stocks by 12-1 month return across the NSE universe. This is a different product use case from the quant composite factor model, which combines momentum with value, quality, and other signals: that is a multi-factor score; this is a pure momentum leaderboard for analysts who want to see what momentum is saying on its own terms. The top 20 focus is deliberate — momentum concentration at the top decile is empirically stronger than momentum across a wider population.
A stock must satisfy every condition below. Conditions are grouped under the pillar they test.
12-1 Month Momentum Score
Hard excludes
Ranked by 12-1 Month Momentum, highest first, top 20, keeping the top 20.
12-1 Month Momentum Return (%)
Percentage price return from the closing price approximately 252 trading days ago (12 months) to the closing price approximately 21 trading days ago (1 month), computed as (price_21d_ago / price_252d_ago - 1) * 100 using daily OHLCV data.
High is better
Current Price (₹)
Latest available closing price of the stock in Indian Rupees, sourced from daily OHLCV data.
Context metric displayed alongside the momentum return to give analysts an absolute price reference. Does not affect the ranking — it is purely informational for position sizing and market cap context.
High is better
Market Cap (₹ Cr)
Market capitalization in Indian Rupees crore, computed as current_price * total_shares_outstanding, sourced from FinEdge company profile data.
Context metric showing the size tier of each momentum stock. Momentum in large-cap stocks is more liquid and easier to trade; momentum in small-cap stocks can be stronger in magnitude but carries higher liquidity risk. This metric helps analysts assess practical tradability of each ranked stock alongside the momentum signal strength.
High is better
Type hypothetical values to see which conditions they satisfy. These are not real stocks and nothing here is stored.
Enter values to begin
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In the past data we checked, the stocks this screen picked did better than the ones it left out, but a cost-aware, out-of-sample portfolio built from them did not hold up well against our deflated-Sharpe bar.
AI-generated plain-language explanation
In the past data we checked, the stocks this screen picked did better than the ones it left out, but a portfolio built from them did not clear our test after trading costs. Each month across 64 months, we checked whether the stocks this screen picked did better over the following month (21 trading days) than the stocks it didn't pick. We score that from -1 (the picks always did worse) to +1 (always did better); 0 means no pattern. This screen scored 0.0230. As a measurement, the score is very small, but clearly above zero. If the screen had no real edge, a score at least this far from zero would show up less than 1 in 1,000 by luck alone. We also tested a portfolio of the screen's picks over 64 months, using only what was known at the time and after estimated trading costs: it earned 0.61 for each unit of ups and downs, per year. Because this screen has been tested 2 times, we mark down results that could be flukes. After that, the chance that it truly beats simply holding the index is 0.495, about 49 in 100. A pattern can exist and still not be worth trading after costs. This is a record of the past, not a prediction. A screen is still a way to narrow a list by your own rules, whatever the measurement says.
This content has been generated with the assistance of artificial intelligence tools by FINOME TECHNOLOGIES PVT LTD. It is for educational purposes only and does not constitute investment advice, a research report, or a recommendation under SEBI (Research Analysts) Regulations, 2014 or SEBI (Investment Advisers) Regulations, 2013. Not investment advice. Issued in compliance with SEBI circular SEBI/HO/MIRSD/MIRSD-SEC-5/P/CIR/2024/149.
In the past data we checked, the stocks this screen picked did better than the ones it left out, but a portfolio built from them did not clear our test after trading costs. Each month, across the whole period we have data for, we checked whether the stocks this screen picked did better, over the following month (21 trading days), than the stocks it didn't pick. We score that from -1 (the picks always did worse) to +1 (always did better); 0 means no pattern. This screen scored 0.0230. As a measurement, the score is very small, but clearly above zero. If the screen had no real edge, a score at least this far from zero would show up less than 1 in 1,000 by luck alone.
We also tested a portfolio of the screen's picks over 64 months, using only what was known at the time and after estimated trading costs: it earned 0.61 for each unit of ups and downs, per year. Because this screen has been tested 2 times, we mark down results that could be flukes. After that, the chance that it truly beats simply holding the index is 0.495, about 49 in 100.
A pattern can exist and still not be worth trading after costs. This is a record of the past, not a prediction. A screen is still a way to narrow a list by your own rules, whatever the measurement says.
This is a historical, statistical measurement produced by FINOME TECHNOLOGIES PVT LTD's research harness on past data. It is not a prediction, and past results do not indicate future results. The universe is today's Nifty 500 constituents, so the sample is affected by survivorship bias. It describes how a screen's selections behaved in the past and does not constitute investment advice or a recommendation.
Rule version 1.0.0