Momentum Picks: Best Swing Trading Stocks to Keep an Eye On!
Top 3 stocks to watch for Swing Trading.
A long red candle appeared on Nifty’s daily chart, signaling a controlled move after breakout from a recent narrow range. Markets have gradually picked up with Nifty sustaining above the 25,000 mark.
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Following are the 3 stocks to watch for Swing Trading:
Poly Medicure Ltd: Poly Medicure Ltd. is currently trading at Rs 2,484, showing a 4.04 per cent increase from its previous close of Rs 2,387.5. The stock hit a high of Rs 2,499.95 during the day with a traded volume of 1.81 lakh shares. It is trading near its 52-week high of Rs 2,686.6, with returns from the 52-week low at 98.70 per cent. The stock bounced from the support level at the 50-day EMA, and its volume matches the 20-day average. A MACD crossover has occurred, signaling potential momentum, and the RSI is at 61.47, indicating entry into the bullish zone. The stock remains close to its 52-week high and could continue its current trend.
Raymond Ltd: Raymond Ltd. is currently trading at Rs 1,780, with a 5.71 per cent gain from its previous close of Rs 1,683.9. The stock touched a high of Rs 1,786 for the day and had a traded volume of 7.53 lakh shares. It remains near its 52-week low and shows returns of 19.34 per cent from that level. The stock is attempting to gain strength as it approaches key levels, including the 50-day EMA. A MACD crossover has been noted, and the RSI stands at 50.45, reflecting a neutral position. While the stock is still near its lower levels, a breakout could potentially signal strength in the future.
Deepak Nitrite Ltd.: Deepak Nitrite Ltd. is currently trading at Rs 2,935.55, reflecting a 3.07 per cent increase from its previous close of Rs 2,848.25. The stock reached a high of Rs 2,944 for the day, with a traded volume of 4.78 lakh shares. The returns from its 52-week low are at 52.75 per cent, and the stock is approaching its upper trendline, which may soon see a breakout. The MACD crossover indicates building momentum, and the RSI has entered the bullish zone at 57.10. If a breakout occurs, the stock may aim to reach its 52-week high of Rs 3,169.
Disclaimer: The article is for informational purposes only and not investment advice.