Swing Trading Stocks: Week of 02 January 2024

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. Ashok Leyland (ASHOKLEY)

Ashok Leyland has an operating revenue of Rs. 44,722.65 Cr. on a trailing 12-month basis. An annual revenue growth of 59% is outstanding, Pre-tax margin of 5% is okay, ROE of 14% is good. The company has a high debt to equity of 228%, which can be a reason to worry. The stock from a technical standpoint is trading close to its 50DMA and comfortably placed above its 200DMA, around 5% above 200DMA.

Ashok Leyland Share Price Target for this week:

• Current Market Price: Rs. 182

• Stop Loss: Rs. 176

• Target 1: Rs. 188

• Target 2: Rs. 192

• Holding Period: 1 week

5paisa Recommendation: Our technical experts expects ON THE VERGE OF BREAKOUT in this stock hence making ASHOKLEY, as one of the best swing trade stocks.

2. Indus Towers (INDUSTOWER)

Indus Towers has an operating revenue of Rs. 27,726.30 Cr. on a trailing 12-month basis. An annual revenue growth of 2% is not great, Pre-tax margin of 10% is healthy, ROE of 9% is fair but needs improvement. The company has a reasonable debt to equity of 12%, which signals a healthy balance sheet. The stock from a technical standpoint is trading close to its 50DMA and comfortably placed above its 200DMA, around 10% above 200DMA.

Indus Towers share price Target for this week: 

• Current Market Price: Rs. 199

• Stop Loss: Rs. 191

• Target 1: Rs. 207

• Target 2: Rs. 215

• Holding Period: 1 week

5paisa Recommendation: Our technical experts expects POSITIVE CROSSOVER in INDUSTOWER hence making this stock as one of the best swing trade stocks.

3. Man Infraconstruction (MANINFRA)

Man Infraconstruction has an operating revenue of Rs. 1,862.08 Cr. on a trailing 12-month basis. An annual revenue growth of 67% is outstanding, Pre-tax margin of 21% is great, ROE of 23% 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 19% and 62% from 50DMA and 200DMA.

Man Infraconstruction Share Price Target for this week: 

• Current Market Price: Rs. 217

• Stop Loss: Rs. 208

• Target 1: Rs. 226

• Target 2: Rs. 235

• Holding Period: 1 week

5paisa Recommendation: Our technical experts expects CONSOLIDATION BREAKOUT in this stock hence making MANINFRA as one of the best swing trade stocks.

4. National Aluminium Company (NATIONALUM)

National Aluminium (Nse) has an operating revenue of Rs. 13,182.62 Cr. on a trailing 12-month basis. An annual revenue de-growth of 0% needs improvement, Pre-tax margin of 14% is healthy, ROE of 10% is good. 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 comfortably placed above its key moving averages, around 31% and 42% from 50DMA and 200DMA.

National Aluminium Company Share Price Target for this week: 

• Current Market Price: Rs. 132

• Stop Loss: Rs. 126

• Target 1: Rs. 138

• Target 2: Rs. 143

• Holding Period: 1 week

5paisa Recommendation: Our technical experts expects VOLUME SPURT in this stock hence making this NATIONALUM one of the best swing trade stocks.

5. Reliance Infrastructure (RELINFRA)

Reliance Infrastructure has an operating revenue of Rs. 20,946.50 Cr. on a trailing 12-month basis. An annual revenue growth of 11% is good, Pre-tax margin of -12% needs improvement, ROE of -34% is poor and needs improvement. The company has a reasonable debt to equity of 48%, which signals a healthy balance sheet. The stock from a technical standpoint is trading close to its 50DMA and comfortably placed above its 200DMA, around 15% above 200DMA.

Reliance Infrastructure Share Price Target for this week: 

• Current Market Price: Rs. 210

• Stop Loss: Rs. 200

• Target 1: Rs. 220

• Target 2: Rs. 232

• Holding Period: 1 week

5paisa Recommendation: Our technical experts expects REVERSED FROM THE SUPORT in this stock hence making this RELINFRA one of the best swing trade stocks.