Swing Trading Stocks: Week of 16 Jan 2023

Swing Trading Stocks for the Week

Check out Web-Stories for Swing Trading Stocks: Week of 16 Jan 2023

At the beginning of every week, our analysts scan through the markets and provide a list of the five best swing trade stocks. The stocks are recommended from a wider list of stocks with the help of fundamental and technical analysis. We regularly update our success rate and issue special commentary during special market events. The average holding period could be between 7-10 days on average.

Weekly Stocks for Swing Trading

1. Rallis India (RALLIS)

Rallis India has an operating revenue of Rs. 2,949.58 Cr. on a trailing 12-month basis. An annual revenue growth of 7% is good, Pre-tax margin of 9% is okay, ROE of 9% is fair but needs improvement. The company is debt free and has a strong balance sheet enabling it to report stable earnings growth across business cycles. The stock from a technical standpoint is trading close to its 50DMA and comfortably placed above its 200DMA, around 7% above 200DMA.

Rallis India Share Price Target for Today:

- Current Market Price: Rs. 258

- Stop Loss: Rs. 246

- Target 1: Rs. 270

- Target 2: Rs. 285

- Holding Period: 1 week

5paisa Recommendation: Our technical experts expects volume spurt in this stock hence making RALLIS, as one of the best swing trade stocks.

2. ICICI Prudential Life Insurance Company (ICICIPRULI)

ICICI Prudential Life Insurance has an operating revenue of Rs. 60,916.72 Cr. on a trailing 12-month basis. An annual revenue de-growth of -24% needs improvement, Pre-tax margin of 2% needs improvement, ROE of 8% is fair but needs improvement. The stock from a technical standpoint is trading below to its 200DMA and close to its 50DMA. It needs to take out the 200DMA levels and stay above it to make any further meaningful move.

ICICI Prudential Life Insurance Company Share Price Target for Today:

- Current Market Price: Rs. 469

- Stop Loss: Rs. 445

- Target 1: Rs. 493

- Target 2: Rs. 515

- Holding Period: 1 week

5paisa Recommendation: Our technical experts expects volume spurt in ICICIPRULI and thus making this stock as one of the best swing trade stocks.

3. LT Foods (DAAWAT)

L T Foods has an operating revenue of Rs. 6,230.47 Cr. on a trailing 12-month basis. An annual revenue growth of 16% is outstanding, Pre-tax margin of 8% is okay, ROE of 14% is good. The company has a reasonable debt to equity of 10%, which signals a healthy balance sheet. The stock from a technical standpoint is trading close to its 50DMA and comfortably placed above its 200DMA, around 17% above 200DMA.

LT Foods Share Price Target for Today: 

- Current Market Price: Rs. 118

- Stop Loss: Rs. 112

- Target 1: Rs. 124

- Target 2: Rs. 130

- Holding Period: 1 week

5paisa Recommendation: Our technical experts see pullback expected in DAAWAT hence making this stock as one of the best swing trade stocks.

4. NMDC (NMDC)

NMDC has an operating revenue of Rs. 20,671.53 Cr. on a trailing 12-month basis. An annual revenue growth of 69% is outstanding, Pre-tax margin of 50% is great, ROE of 26% is exceptional. The company has a reasonable debt to equity of 5%, which signals a healthy balance sheet. The stock from a technical standpoint is comfortably placed above its key moving averages, around 8% and 31% from 50DMA and 200DMA. 

NMDC Share Price Target for Today:

- Current Market Price: Rs. 131

- Stop Loss: Rs. 124

- Target 1: Rs. 138

- Target 2: Rs. 145

- Holding Period: 1 week

5paisa Recommendation: Our technical experts expect bullish breakout in this stock hence making NMDC as one of the best swing trade stocks.

5. Cholamandalam Investment & Finance Company (CHOLAFIN)

Cholamandalam Inv.& Fin. has an operating revenue of Rs. 10,949.21 Cr. on a trailing 12-month basis. An annual revenue growth of 6% is not great, Pre-tax margin of 29% is great, ROE of 18% is exceptional. The stock from a technical standpoint is trading below to its key moving averages. It needs to take out these levels and stay above it to make any meaningful move.

Cholamandalam Investment & Finance Company Share Price Target for Today: 

- Current Market Price: Rs. 712

- Stop Loss: Rs. 683

- Target 1: Rs. 742

- Target 2: Rs. 770

- Holding Period: 1 week

5paisa Recommendation: Our technical experts expects rising volume in this stock hence making this CHOLAFIN one of the best swing trade stocks.