Swing Trading Stocks: Week of 6 November 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. Oil And Natural Gas Corporation (ONGC)

Oil & Natural Gas has an operating revenue of Rs. 665,759.06 Cr. on a trailing 12-month basis. An annual revenue growth of 28% is outstanding, Pre-tax margin of 7% is okay, ROE of 12% is good. The company has a reasonable debt to equity of 35%, 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 12% above 200DMA.

Oil And Natural Gas Corporation Price Target for this week:

• Current Market Price: Rs. 190

• Stop Loss: Rs. 184

• Target 1: Rs. 196

• Target 2: Rs. 202

• Holding Period: 1 week

5paisa Recommendation: Our technical experts expects on the verge of breakout in this stock hence making ONGC, as one of the best swing trade stocks.

2. Eicher Motors (EICHERMOT)

Eicher Motors has an operating revenue of Rs. 15,031.09 Cr. on a trailing 12-month basis. An annual revenue growth of 40% is outstanding, Pre-tax margin of 24% is great, ROE of 19% is exceptional. 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 below to its 50DMA and close to its 200DMA.

Eicher Motors Share Price Target for this week: 

• Current Market Price: Rs. 3428

• Stop Loss: Rs. 3326

• Target 1: Rs. 3530

• Target 2: Rs. 3625

• Holding Period: 1 week

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

3. SOBHA (SOBHA)

SOBHA has an operating revenue of Rs. 3,653.31 Cr. on a trailing 12-month basis. An annual revenue growth of 21% is outstanding, Pre-tax margin of 4% needs improvement, ROE of 4% is fair but needs improvement. The stock from a technical standpoint is comfortably placed above its key moving averages, around 9% and 29% from 50DMA and 200DMA.

SOBHA Share Price Target for this week: 

• Current Market Price: Rs. 767

• Stop Loss: Rs. 736

• Target 1: Rs. 798

• Target 2: Rs. 828

• Holding Period: 1 week

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

4. NAUKRI (NAUKRI)

Info Edge (India) (NSE) has an operating revenue of Rs. 2,424.37 Cr. on a trailing 12-month basis. An annual revenue growth of 35% is outstanding, Pre-tax margin of 16% is great, ROE of -0% is poor and 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 below to its 50DMA and close to its 200DMA.

NAUKRI Share Price Target for this week: 

• Current Market Price: Rs. 4250

• Stop Loss: Rs. 4122

• Target 1: Rs. 4378

• Target 2: Rs. 4500

• Holding Period: 1 week

5paisa Recommendation: Our technical experts reversed from the support in this stock hence making this NAUKRI one of the best swing trade stocks.

5. Vedanta (VEDL)

Vedanta has an operating revenue of Rs. 142,419.00 Cr. on a trailing 12-month basis. An annual revenue growth of 11% is good, Pre-tax margin of 14% is healthy, ROE of 26% is exceptional. The company has a high debt to equity of 110%, which can be a reason to worry. The stock from a technical standpoint is trading below to its 200DMA and close to its 50DMA.

Vedanta Share Price Target for this week: 

• Current Market Price: Rs. 233

• Stop Loss: Rs. 221

• Target 1: Rs. 245

• Target 2: Rs. 256

• Holding Period: 1 week

5paisa Recommendation: Our technical experts recovery expected in this stock hence making this Vedanta one of the best swing trade stocks.