Suggest a few stocks for tomorrow’s swing trading
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Best Stocks for Swing Trading
We are entering the third week of February 2024, tomorrow, Monday is something important for swing traders.
You will be surprised to see three stocks (Ashok Leyland, IPCA Laboratories, Phoenix Mills) that are ready for swing trading tomorrow.
Important Note:
Swing trading experts have concluded after a detailed fundamental and technical analysis. But, remember the hold time of swing stocks is somewhere from 7 days to 10 days only.
Ashok Leyland (ASHOKLEY)
Decent Performance:
If you begin to consider the 12-month trailing, then the operating revenue of Ashok Leyland is Rs. 42,893.69 Cr.
Good Technical Parametric Performance:
The technical parameters: Outstanding annual revenue growth (59%), pre-tax margin(5%), and ROE(14%).
Technical Analysis:
If you check in the technical aspect, the stock is trading at 10% above the 200 DMA, and certainly it is below the 50 DMA.
Setback:
The debt-to-equity ratio is 228% and it is certainly a matter of concern about the company.
Target for Swing Trade:
Still, you can target this week on a swing trade, as the current market price ( INR 176.00), apply stop loss @ INR 170 & set the first target at INR 182, and the second target at INR 188.
Expert Reaction:
The experts call it a positive crossover and are suggestive to hold the stock for 1 week.
IPCA Laboratories (IPCALAB):
Decent Performance:
On a 12-month trailing, IPCA Laboratories, IPCALAB, has an operating revenue performance of INR 6,246.16 cr.
Good Technical Parameters:
The company holds technical parameters to the value of, annual revenue growth (8%), pre-tax margin ( 12%), and ROE ( 8%).
The company’s financial leverage is about 11%, and that is the debt-to-equity ratio, and financial experts consider it to be a good financial statement.
The technical analysis states that the stock position is close to 50 DMA and it is about 15% above 200 DMA.
Share Price Target:
The current market price of the stock is INR 959.00, the stop loss is INR 925, the first target is INR 995, and the second target is INR 1025.
You are advised to hold the stock for one week.
Expert Reaction:
The analysts think that the swing stock has reached the breakout stage.
Phoenix Mills:
Decent Performance:
Considering a 12-month trailing, Phoenix Mills runs with an operating revenue of INR 2,874.59 Cr.
Good Technical Parametric Performance:
The company has an outstanding annual revenue growth of 77%, maintains an exceptional pre-tax margin of 63%, and contains a good ROE of 15%.
Technical Analysis:
The stock is well above the key moving averages, 8% from 50 DMA, and 27% from 200 DMA.
Share Price Target:
You can buy shares at the current price of INR 2015, a stop loss of INR 1955, the first target of INR 2075, and the second target of INR 2135. Experts advise to hold the price for at least one week.
Expert Reaction:
Experts say that one can find a volume spurt in the stock performance and therefore it can be said to be the best swing trade stock.