Swing Trading Stocks: Week of 16 October 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. Phoenix Mills (PHOENIXLTD)

Phoenix Mills has an operating revenue of Rs. 2,874.59 Cr. on a trailing 12-month basis. An annual revenue growth of 77% is outstanding, Pre-tax margin of 63% is great, ROE of 15% is good. The stock from a technical standpoint is comfortably placed above its key moving averages, around 8% and 27% from 50DMA and 200DMA.

Phoenix Mills Price Target for this week:

• Current Market Price: Rs. 2015

• Stop Loss: Rs. 1955

• Target 1: Rs. 2075

• Target 2: Rs. 2135

• Holding Period: 1 week

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

2. Container Corporation of India (CONCOR)

Container Corp.Of India has an operating revenue of Rs. 8,097.97 Cr. on a trailing 12-month basis. An annual revenue growth of 7% is good, Pre-tax margin of 19% is great, 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 trading close to its 50DMA and comfortably placed above its 200DMA, around 6% above 200DMA.

Container Corporation of India Share Price Target for this week: 

• Current Market Price: Rs. 713

• Stop Loss: Rs. 692

• Target 1: Rs. 735

• Target 2: Rs. 755

• Holding Period: 1 week

5paisa Recommendation: Our technical experts see pullback expected in CONCOR hence making this stock as one of the best swing trade stocks.

3. Welspun Corp (WELCORP)

Welspun (Nse) has an operating revenue of Rs. 12,505.55 Cr. on a trailing 12-month basis. An annual revenue growth of 43% is outstanding, Pre-tax margin of 3% needs improvement, ROE of 4% is fair but needs improvement. The company has a reasonable debt to equity of 41%, which signals a healthy balance sheet. The stock from a technical standpoint is comfortably placed above its key moving averages, around 17% and 58% from 50DMA and 200DMA.

Welspun Corp Share Price Target for this week: 

• Current Market Price: Rs. 440

• Stop Loss: Rs. 425

• Target 1: Rs. 455

• Target 2: Rs. 470

• Holding Period: 1 week

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

4. IPCA Laboratories (IPCALAB)

IPCA Laboratories has an operating revenue of Rs. 6,246.16 Cr. on a trailing 12-month basis. An annual revenue growth of 8% is good, Pre-tax margin of 12% is healthy, ROE of 8% is fair but needs improvement. The company has a reasonable debt to equity of 11%, 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.

IPCA Laboratories Share Price Target for this week: 

• Current Market Price: Rs. 959

• Stop Loss: Rs. 925

• Target 1: Rs. 995

• Target 2: Rs. 1025

• Holding Period: 1 week

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

5. Ashok Leyland (ASHOKLEY)

Ashok Leyland has an operating revenue of Rs. 42,893.69 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 below to its 50DMA and around 10% up from its 200DMA.

Ashok Leyland Share Price  Target for this week: 

• Current Market Price: Rs. 176

• Stop Loss: Rs. 170

• Target 1: Rs. 182

• Target 2: Rs. 188

• Holding Period: 1 week

5paisa Recommendation: Our technical experts positive crossover in this stock hence making this ASHOKLEY one of the best swing trade stocks.