Momentum Picks: Best Swing Trading Stocks to Keep an Eye On!
Top 3 stocks to watch for Swing Trading
A small negative candle formed on the daily chart of Nifty 50, with a long upper shadow, suggests that bulls faced resistance at higher levels. This pattern indicates the potential for more weakness in the market.
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Following are the 3 stocks to watch for Swing Trading:
Anand Rathi Wealth Ltd traded at Rs 4,140.05 today, up 4.45 per cent from the previous close of Rs 3,963.70. The stock hit a high of Rs 4,168, nearing its 52-week high of Rs 4,299.95. With a trading volume of 1.11 lakh shares, the volume surpassed the 20-day average, signalling higher interest. The stock has delivered multibagger returns of 137.95 per cent from its 52-week low. Technically, it broke out of an inside bar candlestick pattern, and the MACD crossover occurred, indicating potential momentum. The RSI is 68.35, suggesting a bullish phase. This is the stock to watch for further moves.
Eris Lifesciences Ltd traded at Rs 1,424.45, reflecting a 3.98 per cent rise from its previous close of Rs 1,369.95. The stock reached a high of Rs 1,438.45, not far from its 52-week high of Rs 1,522.05. The traded volume today stood at 2.85 lakh shares. The stock bounced from the 50-day EMA, and a MACD crossover occurred, with the RSI at 63.12 in the bullish zone. The stock has gained 77.17 per cent from its 52-week low, showing strong momentum and nearing a crucial price level.
Glenmark Pharmaceuticals Ltd closed at Rs 1,792.50, up 3.34 per cent from its previous close of Rs 1,734.55, with a trading volume of 10.06 lakh shares. The stock broke through its 52-week high of Rs 1,795, confirming a breakout along with range expansion. It has seen multibagger returns of 148.23 per cent from its 52-week low. Glenmark has been in a long uptrend before consolidation. The MACD crossover signals potential strength, and the RSI is at 63.12, in the bullish zone, suggesting momentum continues. This stock is on the radar for continued movement.
Disclaimer: The article is for informational purposes only and not investment advice.