Momentum Picks: Best Swing Trading Stocks to Keep an Eye On!
Top 3 stocks to watch for Swing Trading
A small red candle with a small upper shadow has formed on the daily chart. Technically, this pattern reflects the ongoing range-bound movement in the market with the Nifty currently hovering close to the 24,900 level.
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Following are the 3 stocks to watch for Swing Trading:
Action Construction Equipment Ltd: Action Construction Equipment Ltd closed at Rs 1,422, up by 5.75 per cent from the previous close of Rs 1,344.7. The stock saw a trading volume of 14.35 lakh shares on Wednesday, which is three times higher than its 20-day average. It is currently trading below the upper trendline marked on the chart and is near its 52-week high of Rs 1,695. A MACD crossover has occurred, indicating a potential shift in momentum, while the RSI is at 60.69, suggesting bullish sentiment. With a market cap of Rs 16,924.03 crore and delivering multibagger returns of 116.34 per cent from its 52-week low, the stock remains in focus for swing traders.
Hindustan Petroleum Corp Ltd: Hindustan Petroleum Corp Ltd is currently trading at Rs 432.75, a 2.33 per cent increase from the previous close of Rs 422.9. The stock has recorded a volume of 1.64 crore shares, surpassing its 20-day average. The stock is positioned just below a key upper trendline on the chart and may enter an uptrend if it breaks through this level. MACD crossover suggests a potential trend shift, while the RSI is trading at 61.42 in the bullish zone. With a market cap of Rs 92,582.29 crore and returns of 171.37 per cent from its 52-week low, the stock has seen significant gains.
Aster DM Healthcare Ltd: Aster DM Healthcare Ltd is trading at Rs 426.7, a minor increase of 0.19 per cent from the previous close of Rs 425.9. The stock's trading volume reached 10.23 lakh shares on Wednesday. It is bouncing off its 50-day EMA but remains below its 52-week high of Rs 558. MACD crossover signals potential momentum, while the RSI has entered the bullish zone at 61.13. The stock has shown 37.16 per cent returns from its 52-week low, with a market cap of Rs 21,247.04 crore, positioning it as a stock to watch for further movement.
Disclaimer: The article is for informational purposes only and not investment advice.