Swing Trading Stocks: Week of 2 May 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. JK Cement (JKCEMENT)

Jk Cement has an operating revenue of Rs. 9,281.28 Cr. on a trailing 12-month basis. An annual revenue growth of 21% is outstanding, Pre-tax margin of 13% is healthy, ROE of 15% is good. The company has a debt to equity of 69%, which is bit higher. The stock from a technical standpoint is trading close to its 50DMA and comfortably placed above its 200DMA, around 5% above 200DMA.

JK Cement Share Price Target for Today:

- Current Market Price: Rs. 2993

- Stop Loss: Rs. 2903

- Target 1: Rs. 3083

- Target 2: Rs. 3173

- Holding Period: 1 week

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

2. Reliance (RELIANCE)

Reliance Industries has an operating revenue of Rs. 892,944.00 Cr. on a trailing 12-month basis. An annual revenue growth of 27% is outstanding, Pre-tax margin of 11% is healthy, ROE of 8% is fair but needs improvement. The company has a reasonable debt to equity of 22%, which signals a healthy balance sheet. The stock from a technical standpoint is trading below to its 200DMA and close to its 50DMA. 

Reliance Share Price Target for Today:

- Current Market Price: Rs. 2420

- Stop Loss: Rs. 2370

- Target 1: Rs. 2470

- Target 2: Rs. 2522

- Holding Period: 1 week

5paisa Recommendation: Our technical experts expects On Verge Of Breakout in RELIANCE and thus making this stock as one of the best swing trade stocks.

3. Anupam Rasayan India (ANURAS)

Anupam Rasayan India has an operating revenue of Rs. 1,392.78 Cr. on a trailing 12-month basis. An annual revenue growth of 29% is outstanding, Pre-tax margin of 21% is great, ROE of 8% is fair but needs improvement. The company has a reasonable debt to equity of 29%, which signals a healthy balance sheet. The stock from a technical standpoint is comfortably placed above its key moving averages, around 38% and 50% from 50DMA and 200DMA.

Anupam Rasayan India Share Price Target for Today: 

- Current Market Price: Rs. 1130

- Stop Loss: Rs. 1107

- Target 1: Rs. 1155

- Target 2: Rs. 1178

- Holding Period: 1 week

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

4. Can Fin Homes (CANFINHOME)

Canfin Homes has an operating revenue of Rs. 2,742.00 Cr. on a trailing 12-month basis. An annual revenue de-growth of -1% needs improvement, Pre-tax margin of 32% is great, ROE of 15% is good. The stock from a technical standpoint is comfortably placed above its key moving averages, around 5% and 7% from 50DMA and 200DMA.

Can Fin Homes Share Price Target for Today:

- Current Market Price: Rs. 617

- Stop Loss: Rs. 592

- Target 1: Rs. 642

- Target 2: Rs. 668

- Holding Period: 1 week

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

5. Deepak Nitrite (DEEPAKNTR)

Deepak Nitrite has an operating revenue of Rs. 7,883.05 Cr. on a trailing 12-month basis. An annual revenue growth of 56% is outstanding, Pre-tax margin of 21% is great, ROE of 31% is exceptional. The company has a reasonable debt to equity of 6%, which signals a healthy balance sheet. The stock from a technical standpoint is trading below to its 200DMA and close to its 50DMA. 

Deepak Nitrite Share Price Target for Today: 

- Current Market Price: Rs. 1888

- Stop Loss: Rs. 1840

- Target 1: Rs. 1936

- Target 2: Rs. 1985

- Holding Period: 1 week

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