Swing Trading Stocks: Week of 05 February 2024

Swing Trading Stocks: Week of 05 February 2024
Swing Trading Stocks: Week of 05 February 2024

by Ruchit Jain Last Updated: Feb 05, 2024 - 11:30 am 1k Views
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Swing Trading Stocks for the Week

STOCK

ACTION

CMP

SL

TARGET 1

TARGET 2

EID PARRY

BUY

644

614

674

700

TORRENT PHARMA

BUY

2600

2450

2750

2870

CUMMINS IND

BUY

2330

2230

2440

2500

ALKEM

BUY

5000

4780

5120

5220

INTELLECT

BUY

901

866

934

970

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. EID Parry (India) (EID PARRY)

Eid Parry is involved in the business activities of Manufacture or refining of sugar (sucrose) from sugercane. Company’s Total Operating Revenue is Rs. 2894.92 Cr. and Equity Capital is Rs. 17.75 Cr. for the Year ended 31/03/2023. EID Parry (India) Ltd. is a Public Limited Listed company incorporated on 22/09/1975 and has its registered office in the State of Tamil Nadu, India.

EID Parry Share Price Target for this week:

• Current Market Price: Rs. 644

• Stop Loss: Rs. 614

• Target 1: Rs. 674

• Target 2: Rs. 700

• Holding Period: 1 week

5paisa Recommendation: Our technical experts expects Stock in Uptrend in this stock hence making EID PARRY, as one of the best swing trade stocks.

2. Torrent Pharmaceuticals (TORRENT PHARMA)

Torrent Pharmac is involved in the business activities of Manufacture of pharmaceuticals, medicinal chemical and botanical products. Company’s Total Operating Revenue is Rs. 7695.20 Cr. and Equity Capital is Rs. 169.23 Cr. for the Year ended 31/03/2023. Torrent Pharmaceuticals Ltd. is a Public Limited Listed company incorporated on 15/07/1972 and has its registered office in the State of Gujarat, India.

Torrent Pharmaceuticals share price Target for this week

• Current Market Price: Rs. 2600

• Stop Loss: Rs. 2450

• Target 1: Rs. 2750

• Target 2: Rs. 2870

• Holding Period: 1 week

5paisa Recommendation: Our technical experts expects Trading Above 20 DEMA support in TORRENT PHARMA hence making this stock as one of the best swing trade stocks.

3. Cummins India (CUMMINS IND)

Cummins India Lt is involved in the business activities of Manufacture of general purpose machinery. Company’s Total Operating Revenue is Rs. 7744.43 Cr. and Equity Capital is Rs. 55.44 Cr. for the Year ended 31/03/2023. Cummins India Ltd. is a Public Limited Listed company incorporated on 17/02/1962 and has its registered office in the State of Maharashtra, India.

Cummins India Share Price Target for this week:

• Current Market Price: Rs. 2330

• Stop Loss: Rs. 2230

• Target 1: Rs. 2440

• Target 2: Rs. 2500

• Holding Period: 1 week

5paisa Recommendation: Our technical experts expects Continuation of Uptrend in this stock hence making CUMMINS IND as one of the best swing trade stocks.

4. Alkem Laboratories (ALKEM)

Alkem Laboratories is involved in the business activities of Manufacture of pharmaceuticals, medicinal chemical and botanical products. Company’s Total Operating Revenue is Rs. 9054.55 Cr. and Equity Capital is Rs. 23.91 Cr. for the Year ended 31/03/2023. Alkem Laboratories Ltd. is a Public Limited Listed company incorporated on 08/08/1973 and has its registered office in the State of Maharashtra, India.

Alkem Laboratories Share Price Target for this week

• Current Market Price: Rs. 5000

• Stop Loss: Rs. 4780

• Target 1: Rs. 5120

• Target 2: Rs. 5220

• Holding Period: 1 week

5paisa Recommendation: Our technical experts expects Trading at Support in this stock hence making this ALKEM one of the best swing trade stocks.

5. Intellect Design Arena (INTELLECT)

Intellect Design is involved in the business activities of Providing software support and maintenance to the clients. Company’s Total Operating Revenue is Rs. 1470.11 Cr. and Equity Capital is Rs. 67.86 Cr. for the Year ended 31/03/2023. Intellect Design Arena Ltd. is a Public Limited Listed company incorporated on 18/04/2011 and has its registered office in the State of Tamil Nadu, India.

Intellect Design Arena Share Price Target for this week

• Current Market Price: Rs. 901

• Stop Loss: Rs. 866

• Target 1: Rs. 934

• Target 2: Rs. 970

• Holding Period: 1 week

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

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About the Author

Ruchit Jain is Lead Research Analyst at 5paisa. He has a vast experience of 14 years in this field and is proficient in Technical and Derivatives Research. He has completed his CMT (U.S.A.) and has done Masters in the field of Finance at Mumbai University.

Disclaimer

Investment/Trading in securities Market is subject to market risk, past performance is not a guarantee of future performance. The risk of loss in trading and investment in Securities markets including Equites and Derivatives can be substantial.
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