Swing Trading Stocks: Week of 19 June 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. Exide Industries (EXIDEIND)

Exide Industries (Nse) has an operating revenue of Rs. 15,078.16 Cr. on a trailing 12-month basis. An annual revenue growth of 18% is outstanding, Pre-tax margin of 8% is okay, ROE of 7% is fair but needs improvement. 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 5% and 14% from 50DMA and 200DMA.

Exide Industries Share Price Target for Today:

- Current Market Price: Rs. 215

- Stop Loss: Rs. 206

- Target 1: Rs. 226

- Target 2: Rs. 238

- Holding Period: 1 week

5paisa Recommendation: Our technical experts expects Positive Crossover in this stock hence making EXIDEIND, as one of the best swing trade stocks.

2. ICICI Prudential Life Insurance Company (ICICIPRULI)

Icici Prudential Life Insurance has an operating revenue of Rs. 66,134.21 Cr. on a trailing 12-month basis. An annual revenue growth of 4% is not great, Pre-tax margin of 2% needs improvement, ROE of 8% is fair but needs improvement. The stock from a technical standpoint is comfortably placed above its key moving averages, around 12% and 8% from 50DMA and 200DMA. 

ICICI Prudential Life Insurance Company Share Price Target for Today:

- Current Market Price: Rs. 534

- Stop Loss: Rs. 512

- Target 1: Rs. 556

- Target 2: Rs. 578

- Holding Period: 1 week

5paisa Recommendation: Our technical experts expects Bullish Momentum in ICICIPRULI and thus making this stock as one of the best swing trade stocks.

3. Bharat Forge (BHARATFORG)

Bharat Forge has an operating revenue of Rs. 12,910.26 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 trading close to its 200DMA and around 5% above its 50DMA. It needs to stay above the 200DMA levels to make any further meaningful move. 

Bharat Forge Share Price Target for Today: 

- Current Market Price: Rs. 838

- Stop Loss: Rs. 821

- Target 1: Rs. 855

- Target 2: Rs. 872

- Holding Period: 1 week

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

4. Meghmani Finechem (MFL)

Meghmani Finechem has an operating revenue of Rs. 2,188.40 Cr. on a trailing 12-month basis. An annual revenue growth of 41% is outstanding, Pre-tax margin of 24% is great, ROE of 33% is exceptional. The company has a reasonable debt to equity of 41%, which signals a healthy balance sheet. The stock from a technical standpoint is trading below to its 200DMA and close to its 50DMA. It needs to take out the 200DMA levels and stay above it to make any further meaningful move. 

Meghmani Finechem India Share Price Target for Today:

- Current Market Price: Rs. 1116

- Stop Loss: Rs. 1072

- Target 1: Rs. 1160

- Target 2: Rs. 1205

- Holding Period: 1 week

5paisa Recommendation: Our technical experts expects Volume Spurt in this stock hence making MFL as one of the best swing trade stocks.

5. Deepak Nitrite (DEEPAKNTR)

Deepak Nitrite has an operating revenue of Rs. 7,972.06 Cr. on a trailing 12-month basis. An annual revenue growth of 17% is outstanding, Pre-tax margin of 14% is healthy, ROE of 20% is exceptional. 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 9% and 6% from 50DMA and 200DMA.

Deepak Nitrite Share Price Target for Today: 

- Current Market Price: Rs. 2163

- Stop Loss: Rs. 2110

- Target 1: Rs. 2216

- Target 2: Rs. 2270

- Holding Period: 1 week

5paisa Recommendation: Our technical experts see On Verge Of Breakout in this stock hence making this DEEPAKNTR one of the best swing trade stocks.