Top swing trading ideas you should not miss!

Top swing trading ideas you should not miss!

by 5paisa Research Team Last Updated: 2022-12-12T12:26:53+05:30

Best Swing Trading ideas based on price and volume percentage surge. Motilal Oswal, Polycab India, Fortis Healthcare.

Price and volume are two of the most prominent inputs used by traders across the world while swing trading. When used in isolation, they reveal very little but when used in conjunction, they help us to sort the wheat from the chaff. So, this swing trading system is based on the deadly combination of price and volume percentage surge, which helps us to discover high probability swing-trading candidates.

So, here is the list of stocks that fulfil the criteria of volume and price surge and as a result, they flash in our swing-trading system:

    

  1. Motilal Oswal: The stock surged a massive 7% on Tuesday and it managed to close near the day’s high. The stock’s daily range was greater than its 10-day average range. A huge volume spike was seen in today’s trading session which indicates interest at a bigger level. The volume was far greater than its previous trading session and in fact it was above its 10 and 30-day average volume. The stock is trading above its 20,50,100 and 200 DMA showing extreme bullishness. The RSI is above 70, which validates positive bias. In the near term, the stock shows potential to touch the levels of Rs 1042 followed by Rs 1188 which is its all-time high. Considering the steam, it still has, traders should include this stock in their watchlist.

  1. Polycab India: The stock rose 4% on Tuesday and closed above its 20-DMA. From the past few trading sessions, the stock was continuously taking support at its 50 DMA and finally it shot up today. Today’s volume was greater than its 10 and 30 day-average volume. The stock formed a sizable bullish candle after a very long time. Interestingly, the stock is nearing its all-time high of Rs 2650. With price and volume criteria met, this stock looks ripe for a decent up-move from current levels in the coming days. Swing traders can keep this on the radar for an up-move towards the level of Rs 2650 and beyond, while immediate support lies at Rs 2400.

  1. Fortis Healthcare: This healthcare stock was trading weak for the past few trading sessions but on Tuesday, it rose nearly 7%. With this, it has managed to close above its 50-DMA and interestingly, it is already trading above the 20 and 100-DMA, which is indicating strength in the stock. A good volume spike on Tuesday supports our claim. In addition to this, the daily range of the stock was twice its 10-days average range. Considering the strong price movement witnessed in the stock along with volume uptick, swing traders should not miss this stock as it can touch levels of Rs 290 followed by Rs 300 in the near to medium term. On the downside, support is seen around Rs 250 levels. 


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