Swing Trading Stocks: Week of 14 August 2023

Swing Trading Stocks for the Week

At the beginning of every week, our analysts scan through the markets and provide a list of the five best swing trade stocks. The stocks are recommended from a wider list of stocks with the help of fundamental and technical analysis. We regularly update our success rate and issue special commentary during special market events. The average holding period could be between 7-10 days on average.

Weekly Stocks for Swing Trading

1. Rallis India (RALLIS)

Rallis India has an operating revenue of Rs. 2,886.19 Cr. on a trailing 12-month basis. An annual revenue growth of 13% is good, Pre-tax margin of 4% needs improvement, ROE of 5% is fair but needs improvement. The company is debt free and has a strong balance sheet enabling it to report stable earnings growth across business cycles. The stock from a technical standpoint is trading close to its 200DMA and around 8% above its 50DMA. It needs to stay above the 200DMA levels to make any further meaningful move.

Rallis India Share Price Target for Today:

- Current Market Price: Rs. 223

- Stop Loss: Rs. 214

- Target 1: Rs. 232

- Target 2: Rs. 240

- Holding Period: 1 week

5paisa Recommendation: Our technical experts expects on verge of breakout in this stock hence making RALLIS, as one of the best swing trade stocks.

2. Bharat Forge (BHARATFORG)

Bharat Forge has an operating revenue of Rs. 13,936.06 Cr. on a trailing 12-month basis. An annual revenue growth of 23% is outstanding, Pre-tax margin of 7% is okay, ROE of 7% is fair but needs improvement. The company has a reasonable debt to equity of 26%, which signals a healthy balance sheet. The stock from a technical standpoint is comfortably placed above its key moving averages, around 13% and 15% from 50DMA and 200DMA.

Bharat Forge Share Price Target for Today: 

- Current Market Price: Rs. 971

- Stop Loss: Rs. 942

- Target 1: Rs. 1000

- Target 2: Rs. 1030

- Holding Period: 1 week

5paisa Recommendation: Our technical experts expects bullish momentum in BHARATFORG hence making this stock as one of the best swing trade stocks.

3. PNB Housing Finance (PNBHOUSING)

PNB Housing Finance has an operating revenue of Rs. 6,824.26 Cr. on a trailing 12-month basis. An annual revenue growth of 5% is not great, Pre-tax margin of 21% is great, ROE of 9% is fair but needs improvement. The stock from a technical standpoint is comfortably placed above its key moving averages, around 6% and 34% from 50DMA and 200DMA.

PNB Housing Finance Share Price Target for Today: 

- Current Market Price: Rs. 660

- Stop Loss: Rs. 640

- Target 1: Rs. 680

- Target 2: Rs. 700

- Holding Period: 1 week

5paisa Recommendation: Our technical experts expects volume spurt in this stock hence making PNBHOUSING as one of the best swing trade stocks.

4. Hindustan Copper (HINDCOPPER)

Hindustan Copper (NSE) has an operating revenue of Rs. 1,675.33 Cr. on a trailing 12-month basis. An annual revenue de-growth of -5% needs improvement, Pre-tax margin of 24% is great, ROE of 14% is good. The company has a reasonable debt to equity of 1%, which signals a healthy balance sheet. The stock from a technical standpoint is comfortably placed above its key moving averages, around 24% and 35% from 50DMA and 200DMA.

Hindustan Copper Share Price Target for Today: 

- Current Market Price: Rs. 159

- Stop Loss: Rs. 154

- Target 1: Rs. 164

- Target 2: Rs. 169

- Holding Period: 1 week

5paisa Recommendation: Our technical experts see rising volume in this stock hence making this HINDCOPPER one of the best swing trade stocks.

5. Jindal Steel & Power (JINDALSTEL)

Jindal Steel & Pwr.(NSE) has an operating revenue of Rs. 52,711.18 Cr. on a trailing 12-month basis. An annual revenue growth of 3% is not great, Pre-tax margin of 9% is okay, ROE of 8% is fair but needs improvement. The company has a reasonable debt to equity of 19%, which signals a healthy balance sheet. The stock from a technical standpoint is comfortably placed above its key moving averages, around 13% and 19% from 50DMA and 200DMA. 

Jindal Steel & Power Share Price  Target for Today: 

- Current Market Price: Rs. 698

- Stop Loss: Rs. 670

- Target 1: Rs. 726

- Target 2: Rs. 755

- Holding Period: 1 week

5paisa Recommendation: Our technical experts see volume spurt in this stock hence making this JINDALSTEL one of the best swing trade stocks.