Momentum Picks: Best Swing Trading Stocks to Keep an Eye On!
Top 3 stocks to watch for Swing Trading.
A small negative indecision candle formed on the daily chart, with a short upper and lower shadow, suggests that bulls and bears are still deciding where to take the market. This pattern indicates some indecision, markets will decide its direction soon.
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Following are the 3 stocks to watch for Swing Trading:
Motilal Oswal Financial Services Ltd: Motilal Oswal Financial Services Ltd closed at Rs 813.45, with a trading volume of 20.03 lakh shares. The stock showed a 4.43 per cent gain on Friday, bouncing from its 50-day EMA and key support levels. Currently trading near its 52-week high of Rs 828.85, the stock has provided multibagger returns of 257.88 per cent from its 52-week low. The trading volume on Friday was significantly higher than the 20-day average volume. A bullish MACD crossover has occurred, signalling positive momentum, while the RSI is at 62.60, placing the stock in a bullish zone. Motilal Oswal is a stock to watch in the coming sessions.
NMDC Ltd: NMDC Ltd closed at Rs 235.54, with a trading volume of 1.59 crore shares on Friday. The stock gained 3.39 per cent and is trying to sustain above its 50-day EMA, with the upper trendline acting as resistance for a potential upside. Currently trading at Rs 235.54, it is still below its 52-week high of Rs 286.35, with returns of 56.86 per cent. The volume on Friday was in line with its 20-day average. A MACD crossover has occurred, while the RSI is neutral at 55.98, indicating potential for further movement. NMDC is a stock to keep an eye on for swing traders.
Samvardhana Motherson International Ltd: Samvardhana Motherson International Ltd closed at Rs 214.15, with a trading volume of 1.00 crore shares. The stock posted a modest gain of 1.13 per cent and is trading near its 52-week high of Rs 216.99, having given multibagger returns of 144.70 per cent from its 52-week low. The stock bounced from its 50-day EMA and remains in an uptrend. A MACD crossover has taken place, suggesting bullish momentum, while the RSI stands at 61.61, signalling a bullish bias. With its significant volume and proximity to its 52-week high, Samvardhana Motherson remains a stock to observe for further action.
Disclaimer: The article is for informational purposes only and not investment advice.