Introduction

Swing is a popular strategy geared at capitalizing on short-to medium-term price movements. Unlike day trading, where several trades occur within the same day, swing traders allow traders to hold a position for days or even weeks. For instance, you notice a stock experiencing upward momentum and purchase 100 shares at ₹100 each. The trend continues as expected, and they end up at ₹150 per share at the end of the week. By selling it at ₹150 per share, you make a profit of ₹5000. This is how swing trading works.

Swing trading offers a simple yet effective means to profit from short-term market movements. However, ensure you choose the right stock. Read on to discover the best swing trading stocks of 2024, tips for choosing swing trading stocks, and their benefits.

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Tips to Choose Swing Trading Stocks

Here are some tips you can use while choosing stocks for swing trading.

• Look for stocks with clear trends in the market and avoid those with erratic movements.

• Select highly liquid stocks with a daily trading volume of at least 500,000 shares.

• Ensure the stocks show some volatility with an Average True Range (ATR) between 2-5% of their value.

• Analyse sector-wise performance and upcoming events and use multiple timeframes while swing trading.

Benefits of Swing Trading

Swing trading offers the following benefits to traders who are good at spotting market changes and want to profit from them.

• Swing trading helps capitalise on short to medium-term market changes, resulting in substantial profits.
• Most stocks for swing trading offer a minimum one-week holding period. This means traders don’t have to constantly monitor the market movements all day long.
• Swing trading offers flexibility and versatility since traders can maintain their position for a few days or even weeks.
• It isn’t dependent on market conditions and allows traders to adapt to market conditions. For instance, traders can go short when the market turns bearish or go long when it turns bullish.

Best Swing Trading Stocks 2024

Here are some of the best swing trading stocks in India.

KPIT Technologies

KPIT Technologies (KPITTECH) is a known name in technical consultancy, engineering, and architectural circles. This private limited listed company boasts a Total Operating Revenue of ₹2,016 crores and equity capital worth ₹271.22 crores. Because of its uptrend resumption, KPITTECH is considered one of the best stocks for swing trading.

Airtel

Bharti Airtel (BHARTIARTL) is a renowned wireless telecommunication provider with a total operating revenue of ₹94,119.80 crores and equity capital of ₹2,876.60 crores as of 31/03/2024. Incorporated in 1995, this public limited listed company’s stocks are experiencing a bullish trend, making them perfect for swing trading.

Hindalco Industries

Hindalco Industries (HINDALCO) is a frontrunner in activities related to manufacturing copper from ore and products of copper and its alloys. With a total operating revenue and equity capital of ₹83,000 cores and ₹222 crores, respectively, its stock is expected to rise in volume, making it an ideal fit for swing trading.

Ashoka Buildcon

Ashoka Buildcon Ltd. (ASHOKA) is a pioneer in the construction and maintenance industry related to motorways, highways, streets, roads, bridges, tunnels, subways, and other vehicular ways. Its stock is experiencing a positive crossover with total operating revenue of ₹6,372.35 crores and equity capital of ₹140.36 crores. This expectation makes ASHOKA one of the best stocks available in India for swing trading.

Mankind Pharma

Mankind Pharma (MANKIND) is a wholesaler of medical goods and pharmaceuticals with equity capital and total operating revenue of ₹40.06 crores and ₹9,264.81 crores, respectively. Since its incorporation in 1991, MANKIND has undergone tremendous growth and is currently experiencing bullish momentum, making it one of the best stocks for swing trading.

Conclusion

Swing trading provides a perfect opportunity for traders adept at spotting short-term market changes. To profit from swing trading, choosing the right stocks is needed. To make wise and calculated investment decisions, keep up with market trends and trading techniques and thoroughly research a stock before investing.

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