Swing Trading Stocks: Week of 23 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. SBI Life Insurance Company (SBILIFE)

SBI Life Insurance Co has an operating revenue of Rs. 103,724.93 Cr. on a trailing 12-month basis. An annual revenue de-growth of -4% needs improvement, Pre-tax margin of 3% needs improvement, ROE of 13% is good. The stock from a technical standpoint is trading close to its 50DMA and comfortably placed above its 200DMA, around 9% above 200DMA.

SBI Life Insurance Company Share Price Target for this week:

• Current Market Price: Rs. 1363

• Stop Loss: Rs. 1322

• Target 1: Rs. 1405

• Target 2: Rs. 1445

• Holding Period: 1 week

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

2. Persistent Systems (PERSISTENT)

Persistent Systems has an operating revenue of Rs. 9,156.68 Cr. on a trailing 12-month basis. An annual revenue growth of 44% is outstanding, Pre-tax margin of 15% is great, ROE of 23% is exceptional. The company has a reasonable debt to equity of 5%, which signals a healthy balance sheet. The stock from a technical standpoint is comfortably placed above its key moving averages, around 5% and 19% from 50DMA and 200DMA.

Persistent Systems Share Price Target for this week: 

• Current Market Price: Rs. 5907

• Stop Loss: Rs. 5789

• Target 1: Rs. 6025

• Target 2: Rs. 6140

• Holding Period: 1 week

5paisa Recommendation: Our technical experts see rising volume in PERSISTENT hence making this stock as one of the best swing trade stocks.

3. Colgate-Palmolive (India) (COLPAL)

Colgate-Palmolive India has an operating revenue of Rs. 5,353.05 Cr. on a trailing 12-month basis. ROE of 61% is exceptional. The stock from a technical standpoint is trading close to its 50DMA and comfortably placed above its 200DMA, around 22% above 200DMA. It needs to take support around the 50 DMA level to continue further upside move.

Colgate-Palmolive (India) Share Price Target for this week: 

• Current Market Price: Rs. 2110

• Stop Loss: Rs. 2067

• Target 1: Rs. 2153

• Target 2: Rs. 2190

• Holding Period: 1 week

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

4. Prestige Estates Projects (PRESTIGE)

Prestige Estates Prjs. has an operating revenue of Rs. 8,057.40 Cr. on a trailing 12-month basis. An annual revenue growth of 33% is outstanding, Pre-tax margin of 17% is great, ROE of 9% is fair but needs improvement. The stock from a technical standpoint is comfortably placed above its key moving averages, around 17% and 42% from 50DMA and 200DMA. 

Prestige Estates Projects Share Price Target for this week: 

• Current Market Price: Rs. 744

• Stop Loss: Rs. 710

• Target 1: Rs. 778

• Target 2: Rs. 810

• Holding Period: 1 week

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

5. Reliance Infrastructure (RELINFRA)

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.

Reliance Infrastructure Share Price Target for this week: 

• Current Market Price: Rs. 178

• Stop Loss: Rs. 166

• Target 1: Rs. 192

• Target 2: Rs. 205

• Holding Period: 1 week

5paisa Recommendation: Our technical experts rising volume in this stock hence making this RELINFRA one of the best swing trade stocks.