Swing Trading Stocks: Week of 29-Aug-2022

Swing Trading Stocks: Week of 29-Aug-2022
Swing Trading Stocks: Week of 29-Aug-2022

Stock Recommendations
by Sachin Gupta Last Updated: 2022-09-09T14:12:29+05:30

Swing Trading Stocks for the Week
 

STOCK

ACTION

CMP

SL

TARGET 1

TARGET 2

ELGIEQUIP

BUY

494

467

520

546

TECHM

BUY

1085

1052

1118

1150

REDINGTON

BUY

152

144

160

169

MSTCLTD

BUY

262

251

273

285

HAL

SELL

2273

2193

2353

2432

 

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. Elgi Equipments (ELGIEQUIP)

Elgi Equipments (Nse) has an operating revenue of Rs. 2,729.06 Cr. on a trailing 12-month basis. An annual revenue growth of 32% is outstanding, Pre-tax margin of 10% is healthy, ROE of 17% is exceptional. 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 18% and 38% from 50DMA and 200DMA. 

Elgi Equipments Share Price Target for Today:

- Current Market Price: Rs.494

- Stop Loss: Rs.467

- Target 1: Rs.520

- Target 2: Rs.546

- Holding Period: 1 week

5paisa Recommendation: Our technical experts see bullish trend in this stock hence making Elgi Equipments, as one of the best swing trade stocks.

 

2. Tech Mahindra (TECHM)

Tech Mahindra has an operating revenue of Rs. 47,156.28 Cr. on a trailing 12-month basis. An annual revenue growth of 18% is outstanding, Pre-tax margin of 17% is great, ROE of 20% is exceptional. The company has a reasonable debt to equity of 1%, which signals a healthy balance sheet. The stock from a technical standpoint is trading below to its 200DMA and close to its 50DMA.

Tech Mahindra Share Price Target for Today:

- Current Market Price: Rs.1085

- Stop Loss: Rs.1052

- Target 1: Rs.1118

- Target 2: Rs.1150

- Holding Period: 1 week

5paisa Recommendation: Our technical experts see recovery on card in Tech Mahindra and thus making this stock as one of the best swing trade stocks.

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3. Redington (India) (REDINGTON)

Redington (India) has an operating revenue of Rs. 65,993.10 Cr. on a trailing 12-month basis. An annual revenue growth of 10% is good, Pre-tax margin of 3% needs improvement, ROE of 22% is exceptional. The company has a reasonable debt to equity of 2%, which signals a healthy balance sheet. The stock from a technical standpoint is trading close to its 200DMA and around 14% above its 50DMA.

Redington (India) Share Price Target for Today:

- Current Market Price: Rs.152

- Stop Loss: Rs.144

- Target 1: Rs.160

- Target 2: Rs.169

- Holding Period: 1 week

5paisa Recommendation: Our technical experts see bullish breakout expected in this stock hence making Redington (India) as one of the best swing trade stocks.

 

4. Mstc (MSTCLTD)

Mstc has an operating revenue of Rs. 793.07 Cr. on a trailing 12-month basis. An annual revenue growth of 13% is good, Pre-tax margin of 27% is great, ROE of 30% 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 200DMA and close to its 50DMA.
 

Mstc Share Price Target for Today

- Current Market Price: Rs.262

- Stop Loss: Rs.251

- Target 1: Rs.273

- Target 2: Rs.285

- Holding Period: 1 week

5paisa Recommendation: Our technical experts see this stock on the verge of breakout hence making this Mstc as one of the best swing trade stocks.

5. Hindustan Aeronautics (HAL)

Hindustan Aeronautics has an operating revenue of Rs. 26,626.65 Cr. on a trailing 12-month basis. An annual revenue growth of 11% is good, Pre-tax margin of 21% is great, ROE of 26% 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 comfortably placed above its key moving averages, around 14% and 40% from 50DMA and 200DMA.

Hindustan Aeronautics Share Price Target for Today

- Current Market Price: Rs.2273

- Stop Loss: Rs.2193

- Target 1: Rs.2353

- Target 2: Rs.2432

- Holding Period: 1 week

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

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About the Author

Mr. Sachin Gupta is a Senior Research Analyst at 5paisa, based in Mumbai. He has over 10 years of experience in Equity, Commodity research and strategies. 

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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