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, with a short upper shadow, suggests that bulls faced resistance. This pattern indicates some weakness in the market before deciding a new direction
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Following are the 3 stocks to watch for Swing Trading:
Zen Technologies Limited: Zen Technologies stock bounced from the 50-day EMA, forming a marubozu candlestick pattern. The stock is currently trading at Rs 1,935.9, locked in a 10 per cent upper circuit from the previous close of Rs 1,759.95. With a traded volume of 19.37 lakh shares, over three times the 20-day average volume, the stock is nearing its 52-week high of Rs 1,970. The RSI is at 72.47, indicating bullish momentum, and a MACD crossover has occurred. Zen Technologies has provided multibagger returns of 197.83 per cent from its 52-week low, making it a key stock to monitor for swing trading opportunities.
Multi Commodity Exchange of India Ltd: MCX is currently trading at Rs 6,200, a 1.62 per cent increase from its previous close of Rs 6,101.4, with a traded volume of 3.87 lakh shares, exceeding its 20-day average. The stock is moving towards its 52-week high of Rs 6,219 but is facing resistance in the supply zone. A MACD crossover indicates a potential shift in momentum, while the RSI has entered a bullish zone at 66.25. MCX has delivered multibagger returns of 199.21 per cent from its 52-week low, making it an interesting candidate for swing traders.
Ingersoll-Rand (India) Ltd: Ingersoll-Rand stock saw a breakout from a range, with a current price of Rs 4,400, rising by 4.90 per cent from the previous close of Rs 4194.6. The stock traded 58,677 shares today while showing strong momentum after a long consolidation phase. With an RSI of 63.12 in bullish territory and a MACD crossover in place, the stock is likely to be in an uptrend soon. The stock has made a 52-week high of Rs 5000, it has returned 59.42 per cent from the 52-week low.
Disclaimer: The article is for informational purposes only and not investment advice.