Top swing trading ideas you should not miss.

Top swing trading ideas you should not miss.

by 5paisa Research Team Last Updated: Dec 16, 2022 - 11:58 am 50.6k Views
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Best Swing Trading ideas based on price and volume percentage surge. Piramal Enterprises, Mahindra Logistics, Coromandel International.

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. Piramal Enterprises: The stock hit a fresh 52-week high on Tuesday as it gained more than 4%. The stock has witnessed a breakout of 38-days long consolidation with a sizable bullish bar, moreover, volumes for the day were not only higher than its previous trading session, but it was also highest since August 09. The stock’s daily range was greater than 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 3000 followed by Rs 3075, while on the downside the support is seen around levels of Rs 2830.

  1. Mahindra Logistics: The stock jumped 6% on Tuesday. The stocks' daily range on Tuesday 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 22. 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 up-move towards the level of Rs 805-821, while immediate support is seen around Rs 750.

  1. Coromandel International: The stock had gained nearly 3.5% on Tuesday and with this, it had witnessed a breakout of the symmetrical triangle pattern. Interestingly, the breakout has been witnessed along with a huge jump in the volumes as volumes were higher than its previous trading session. Besides, it was higher than 10 and 30-days average volume. In addition to this, the daily range of the stock was greater than its 10-days average range. As a result, the stock has met the criteria of our trading system, Swing traders should not miss this stock as it can touch levels of Rs 860 in the near term followed by Rs 884 in the medium term. On the downside, support is seen around Rs 798 levels.

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