Swing Trading Stocks: Week of 22 May 2023

Swing Trading Stocks for the Week

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. Adani Power (ADANIPOWER)

Adani Power (Nse) has an operating revenue of Rs. 38,773.30 Cr. on a trailing 12-month basis. An annual revenue growth of 36% is outstanding, Pre-tax margin of 20% is great, ROE of 35% is exceptional. The company has a high debt to equity of 113%, which can be a reason to worry. The stock from a technical standpoint is trading below to its 200DMA and around 9% up from its 50DMA. It needs to take out the 200DMA levels and stay above it to make any further meaningful move. 

Adani Power Share Price Target for Today:

- Current Market Price: Rs. 236

- Stop Loss: Rs. 226

- Target 1: Rs. 248

- Target 2: Rs. 256

- Holding Period: 1 week

5paisa Recommendation: Our technical experts expects Volume Spurt in this stock hence making ADANIPOWER, as one of the best swing trade stocks.

2. Minda Corporation (MINDACORP)

Minda Corporation has an operating revenue of Rs. 4,173.35 Cr. on a trailing 12-month basis. An annual revenue growth of 25% is outstanding, Pre-tax margin of 7% is okay, ROE of 14% is good. The company has a reasonable debt to equity of 6%, which signals a healthy balance sheet. The stock from a technical standpoint is comfortably placed above its key moving averages, around 12% and 23% from 50DMA and 200DMA. 

Minda Corporation Share Price Target for Today:

- Current Market Price: Rs. 281

- Stop Loss: Rs. 267

- Target 1: Rs. 296

- Target 2: Rs. 310

- Holding Period: 1 week

5paisa Recommendation: Our technical experts expects Positive Crossover in MINDACORP and thus making this stock as one of the best swing trade stocks.

3. Goodluck India (GOODLUCK)

Goodluck India has an operating revenue of Rs. 3,072.01 Cr. on a trailing 12-month basis. An annual revenue growth of 18% is outstanding, Pre-tax margin of 4% needs improvement, ROE of 14% is good. The company has a reasonable debt to equity of 15%, which signals a healthy balance sheet. The stock from a technical standpoint is comfortably placed above its key moving averages, around 7% and 8% from 50DMA and 200DMA.

Goodluck India Share Price Target for Today: 

- Current Market Price: Rs. 485

- Stop Loss: Rs. 470

- Target 1: Rs. 500

- Target 2: Rs. 515

- Holding Period: 1 week

5paisa Recommendation: Our technical experts expects On Verge Of Breakout in GOODLUCK hence making this stock as one of the best swing trade stocks.

4. Tata Motors (TATAMOTORS)

Tata Motors has an operating revenue of Rs. 345,966.97 Cr. on a trailing 12-month basis. An annual revenue growth of 39% is outstanding, Pre-tax margin of 2% needs improvement, ROE of 12% is good. The company has a reasonable debt to equity of 46%, which signals a healthy balance sheet. The stock from a technical standpoint is comfortably placed above its key moving averages, around 11% and 16% from 50DMA and 200DMA.

Tata Motors Share Price Target for Today:

- Current Market Price: Rs. 525

- Stop Loss: Rs. 504

- Target 1: Rs. 547

- Target 2: Rs. 568

- Holding Period: 1 week

5paisa Recommendation: Our technical experts expects Bullish Momentum in this stock hence making TATAMOTORS as one of the best swing trade stocks.

5. Mastek (MASTEK)

Mastek (Nse) has an operating revenue of Rs. 2,563.39 Cr. on a trailing 12-month basis. An annual revenue growth of 17% is outstanding, Pre-tax margin of 17% is great, ROE of 17% is exceptional. The company has a reasonable debt to equity of 16%, which signals a healthy balance sheet. The stock from a technical standpoint is trading close to its 200DMA and around 7% above its 50DMA. It needs to stay above the 200DMA levels to make any further meaningful move. 

Mastek Share Price Target for Today: 

- Current Market Price: Rs. 1889

- Stop Loss: Rs. 1813

- Target 1: Rs. 1965

- Target 2: Rs. 2040

- Holding Period: 1 week

5paisa Recommendation: Our technical experts see Consolidation Breakout in this stock hence making this MASTEK one of the best swing trade stocks.