Top swing trading ideas you should not miss!

swing trading ideas

by 5paisa Research Team Last Updated: Dec 10, 2022 - 03:17 pm 51.1k Views
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Top Swing Trading ideas based on price and volume percentage surge. PNC Infratech, Ashok Leyland and Engineers India.

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. 

PNC Infratech: PNC Infratech hit a fresh 52-week high on Thursday. The stock has broken out of a 15-day flat base pattern accompanied by above-average volumes. The volume for the day was greater than the 10 and 30-days average volume and in addition to this, the stock’s daily range was twice its 10-days average range, which resulted in meeting the norms of the swing trading system. In the near term, the stock has the potential to touch levels of Rs 430 and the support is seen around levels of Rs 365.

Ashok Leyland: The stock of Ashok Leyland gained nearly 3.6% on Thursday and thereby, it outperformed not only the benchmark indices but also, the Nifty Auto index. The stock witnessed the formation of bullish candle carrying higher high and higher low as compared to the prior bar. Furthermore, the stocks' daily range on Thursday was greater than its 10-days average range. Additionally, the volume for the day was greater than its previous trading session and in fact volumes for the day were highest since September 09. With price and volume criteria met, this stock looks ripe for a good up-move in the coming days, hence, swing traders can keep this on the radar for a good 5-6% up move, while immediate support is seen around Rs 129.

Engineers India: The stock had seen a spectacular run-up on Thursday as it advanced nearly 4.65%. The daily range of the stock was almost double its 10-day’s average. In addition to this, the stock witnessed a huge jump in volumes as volumes were not only higher than its previous trading session but also highest since July first half. Besides, it was higher than 10 and 30-days average volume. As the stock has met the criteria of our trading system, swing traders should not miss this stock as it can touch levels of Rs 82 in the near term followed by Rs 84.5 in the medium term. On the downside, support is seen around Rs 76 levels.

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