Momentum Picks: Best Swing Trading Stocks to Keep an Eye On!
Top 2 stocks to watch for Swing Trading.
Indian indices ended their five-day losing run on Monday, led by banking and metal stocks.
Following are the 2 stocks to watch for Swing Trading:
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Indian Bank: Indian Bank is a swing trading stock, showing a significant price move as it trades at Rs 551.95, up 10.72 per cent from its previous close of Rs 498.5. The stock recently reached a high of Rs 560.5 with a trading volume of approximately 81.08 lakh shares, which is six times higher than its 20-day average. Indian Bank has crossed above its 20 and 50-Day Exponential Moving Averages (DEMA), indicating potential momentum.
Additionally, the MACD has shown a bullish crossover, and the RSI is currently in a bullish zone at 63.48, signalling further interest. This stock has delivered a 41.20 per cent return from its 52-week low, with the current market cap at Rs 74,247.47 crore. With the technical indicators in alignment, it becomes a stock to watch in the short term.
ICICI Bank Ltd: ICICI Bank Ltd, trading at Rs 1294.4, saw a 3.10 per cent increase from its previous close of Rs 1255.45 and hit a high of Rs 1307.8. With a substantial trading volume of around 2.41 crore shares, the stock is above its 50-DEMA after a bounce. Monday’s volume exceeded the 20-day average, adding weight to the price move.
The MACD indicator recently showed a bullish crossover, and the RSI sits at 60.39, maintaining a bullish position. ICICI Bank has achieved a return of 43.98 per cent from its 52-week low, with a current market cap of Rs 9,11,059.22 crore. This alignment of volume and technical indicators marks it as a stock worth monitoring in the near term.
Disclaimer: The article is for informational purposes only and not investment advice.