Top three swing trading ideas to keep a watch on!
So, here is the list of stocks to keep a watch on for swing trading:
The Indian markets ended its six-day losing streak by ending Monday’s trading session with modest gains of over 0.30 per cent. Nifty ended above the 15,800 mark while Sensex closed below the 53,000 mark.
Though the frontline indices ended with modest gains, the real action was witnessed in the broader markets. Nifty Midcap and Small-cap indices outperformed the frontline gauge as they gained 1.24 per cent & 1.12 per cent, respectively. Moreover, the advance-decline ratio was in favour of advances. Hence, going ahead, one should keep a close watch on the broader market stocks.
So, here is the list of stocks to keep a watch on for swing trading:
- Mahindra Holidays & Resorts India Ltd (MHRIL): The stock had recorded a 52-week high of Rs 274.90 on April 19, 2022, and thereafter, corrected in line with the market. However, during this corrective decline, the stock took support around its rising 100-DMA and bounced back sharply to reclaim its important moving average of 20 & 50-DMA. Currently, the stock is trading above its 20, 50, and 100-DMA. Furthermore, the stock managed to close near the top end of the day’s range. Hence, keep a close watch on this stock!
- West Coast Paper Mills: The stock rose nearly 7 per cent on Monday and the volume for the day was the highest in the last six trading sessions. Also, the stock closed near the day’s high. Furthermore, it witnessed good buying activity in the second half of the trading session; hence, one should keep this stock on their watch list.
- Shree Renuka Sugars: The stock gained nearly 5 per cent on Monday and closed near the day’s high. The stock has marked a higher low as compared to its prior trading session while the volume activity was profound in the last 75 minutes of the trade. Hence, traders should watch out for this stock in the near term.