Swing Trading Stocks | Top 5 Swing Trading Stocks to Buy.

by
Swing Trading Stocks

Table of Contents

Strong buy signals for next week!! Here are 5 swing trading stocks for next week for you to checkout based on recent market trends.

Introduction

Swing trading involves capitalizing on short- to medium-term market movements (swings) within a broader trend; it involves holding and maintaining positions for a few days to weeks. These are some of the best swing trading stocks based on recent movement and often provide adequate opportunities throughout the month. Please be aware that these stocks are only for long trades and are updated on a weekly basis. The stocks mentioned are not for day trading. Also, the recommended stocks are mostly mid cap and small cap stocks. The swing trading stock selection is purely based on technical analysis.

Market Sentiment

Before analyzing the best stocks for swing trading, let’s check the indices (Nifty 50 and Bank Nifty). The Nifty 50 and Bank Nifty are still bullish and are above all moving averages. The market sentiment seems to be positive, and traders are advised to maintain a buy-on-dips strategy. Also, we can see below FII (foreign institutional investors) and DII (domestic institutional investors) data for net purchase/sale figures that strongly give a bullish signal for the market.

Month-Dec23

Buy Value

Sell Value

Net Value

FII 

299,15.05

267,193.26

31,959.78

DII 

224,569.20

211,626.95

12,942.25

5 Swing Trading Stocks

Here are the top 5 swing trading stocks for next week. Also check out the detailed technical analysis for each stock below.

HEG Limited (HEG)

HEG Ltd. is one of India’s top manufacturers and exporters of graphite electrodes. It runs the biggest integrated graphite electrode production in the world on a single site. The company’s headquarters are in Noida, India, and it was founded on October 27, 1972.This stock is one of the top picks for the week’s best stocks for swing trading.

HEG Ltd. Monthly
HEG Weekly Chart

As per the chart analysis above, we can clearly see in the charts that the price is above all the major moving averages and has taken support on 8 MA in the monthly chart and 21 MA in the weekly chart, with a strong green candle in the monthly chart confirming an uptrend.

  • Action: BUY
  • Target 1: Rs.2188
  • Target 2: Rs.2250
  • Stop Loss: Rs.1840
  • Holding Period: 2-3 weeks

  • Time Frame: Weekly/Monthly

Sirca Paints India Ltd (SIRCA)

Sirca Paints India Ltd. is a small-cap company incorporated in 2006. The company is mainly engaged in the business of the building material sector, such as wood coatings, decorative paints, and varnishes. It is also the first company to launch wood filler in India, with branches opened in Mumbai and Chennai. As per analyzing the chart for SIRCA, it is also one of the good swing trading stocks for next week.

SIRCA Monthly
SIRCA Weekly

The price, as seen in the monthly and weekly charts, is above all major moving averages; also, the price has taken support on 8 MA and bounced up in the monthly chart. And in the weekly chart, we can see price taking support at 21 MA and a strong green candle giving confirmation for an uptrend.

  • Action: BUY
  • Target 1: Rs 428
  • Target 2: Rs 450
  • Stop Loss: Rs 400
  • Holding Period: 1-2 weeks
  • Time Framed: Weekly/Monthly

DCW Limited (DCW)

DCW Ltd. is a small-cap company incorporated in  1939.The company is engaged in the business of the petrochemical sector, with a focus on specialty chemicals, commodity chemicals, and intermediate products. The company also has a strong presence in the Cholar-Alkali, Soda Ash, and PVC business segments. DCW is also one of my favorite swing trading stocks to trade this week.

DCW Monthly Chart
DCW Weekly Chart

In the monthly chart above, we can see the price has taken support at 8 MA and is moving uptrend. Also, in the weekly chart, the price has taken support at 21 MA and is ready to move up.

  • Action: BUY
  • Target 1: Rs 61.35
  • Target 2: Rs 63.3
  • Stop Loss: Rs 55.4
  • Holding Period: 1-2 weeks
  • Time Framed: Weekly/Monthly

G M Breweries Ltd. (GMBREW)

GM Breweries is engaged in the business of manufacturing and marketing alcoholic beverages such as Indian-made foreign liquor (IMFL) and country liquor (CL). The company was incorporated in 1981. Some of the brand names for its brandy, rum, and whiskey products are Pioneer Doctor Brandy, Pioneer Special Doctor Brandy, Reporter Choice Whisky, and Hot Shot Rum. The GMBREW company chart is also showing one of the best setups for swing trading stocks for this week.

GMBREW Monthly Chart
GMBREW Weekly Chart

In the monthly and weekly charts above, we can see the price has taken support at 8 MA and is moving uptrend. Also, a strong green candle is showing signs of an uptrend.

  • Action: BUY
  • Target 1: Rs 727
  • Target 2: Rs 754
  • Stop Loss: Rs 685.5
  • Holding Period: 1-2 weeks
  • Time Framed: Weekly/Monthly

Garden Reach Shipbuilders & Engineers Ltd.(GRSE)

GRSE is one of India’s leading shipbuilding companies, founded in 1884. In 1960, the Indian government declared the company to be a nationalized enterprise. GRSE is primarily engaged in engine production and shipbuilding requirements for the Indian Navy and Indian Coast Guard. It is also one of the first Indian shipyard companies to build 100 warships. The GRSE company chart analysis also gives a good setup for trades for swing trading stocks for next week. Let’s check below the charts.

GRSE Monthly Chart
GRSE Weekly chart

As we can see in the monthly chart above, the price has taken support at 8 MA and is moving uptrend. Also, in the weekly chart, the price has bounced up after touching 21 MA and has also taken support on 8 MA and is trending up.

  • Action: BUY
  • Target 1: Rs 920
  • Target 2: Rs 955
  • Stop Loss: Rs 845.5
  • Holding Period: 2-3 weeks
  • Time Framed: Weekly/Monthly

Conclusion

These 5 stocks are the best swing trading stocks and have a good setup as per technical analysis. Our goal as swing traders is to capture the swings within the larger trend. Additionally, one should be aware that trading is a speculative activity and that, in order to prevent significant losses, one should have good risk management with proper stop losses to avoid huge losses. Also, if you are having trouble with limited capital,you can also consider MTF trading or margin trading facilities provided by most leading stock brokers in India.

Disclaimer: This article about finance and investments contains material solely for educational purposes. It does not constitute investment advice. While we try to be accurate, we cannot guarantee that the information is appropriate or full. It is recommended that readers get advice from a licensed financial expert prior to making any investing decisions.

Related Posts

Leave a comment