Top 6 Stocks for short term trading Part 1 (2024) 

Short-term trading can be a good opportunity for traders to make money Sensible investors can win financially from it. by taking advantage of market changes and making rapid money with the correct strategies and insights. In this article, we are gonna let you know about the top 6 stocks for short-term trading part 1 in 2024.

1. ASIAN PAINTS

Asian Paints is the largest interior décor store in India. Its corporate banner includes over eight decades of experience as well as well-known companies including Asian Paints, Berger, and Apco. The company sells uPVC windows, modular kitchens, sanitaryware, lighting, soft furnishings, adhesives, waterproofing, wall stickers, and wall paints.

IMPORTANT POINTS TO LOOK OUT FOR – 

• Asian Paint’s profits are growing regularly which is why it is simple to understand that the stock price will eventually follow the growth of the company.

• Asian Paints Ltd. has recently posted the highest-ever quarterly results with  Net Sales increased by 5.4% to ₹ 9,074.9 crores and Net profit increased by  35% to 1475 Cr. 

• Asian Paints Ltd can rise up to 25% based on the Range Bound Strategy.

• Target –  3570 approx 

FOR DETAILED ANALYSIS OF ASIAN PAINTS PLEASE CHECK OUT

Best Stocks For Swing Trading This Week – 5

2. BAJAJ FINSERV

Bajaj Finserv Ltd. serves as the holding company for the Bajaj Group’s different financial services operations. It supports millions of consumers by offering financing for asset acquisition, asset protection through general insurance, family and income protection in the form of life and health insurance, and retirement and savings options.

IMPORTANT POINTS TO LOOK OUT FOR – 

• Bajaj FInserv has recently posted the highest-ever results with a Net Profit Growth of 21% year-on-year basis to Rs 4045 crore.

• Bajaj Finserv can show an upside movement of 30% approx from the current price based on the Cup with Handle Strategy.

• Target –  2100 approx

FOR DETAILED ANALYSIS OF BAJAJ FINSERV PLEASE CHECK OUT

Best stocks for swing trading this week – 3

Note – The information is for education purposes only. We are not a SEBI-registered advisory. Please consult your financial advisor before trading or investing money in the stock market.

3. BERGER PAINTS LTD.

Berger Paints India is engaged in the Manufacturing and selling of Paints. At number two in India, number four in Asia, and number seven globally in the decorative paint industry, Berger Paints is a major paint manufacturer.

IMPORTANT POINTS TO LOOK OUT FOR

• Berger Paints India Ltd. has recently posted the highest-ever quarterly results with Sales of  2882 cr. at a Sales growth of 7% from last quarter and Net profit increased by 50% to 300Cr

• The company is posting good profits as per the scenario and The stock once tried to achieve the target but as the whole market went down it also fell. But it will achieve the target in the upcoming days.

• All chemical companies are under pressure because of the high RPO rates, but the situation will change in the coming days and the stock will fly in no time after that. 

• based on the Cup with Handle strategy. It can show an upside move of 23% to the target of 710 approx for the near future. 

• Target – 710

FOR DETAILED ANALYSIS OF BEERGER PAINTS PLEASE CHECK OUT

Best stocks for swing trading this week 6

( For a better understanding of fundamentals you can visit screener.in )

4. CAMS (COMPUTER AGE MANAGEMENT SERVICES LTD)

The business is a mutual fund transfer service provider. It offers services to distributors, investors, and asset management companies (AMCs). India’s leading mutual fund registrar and transfer agent, holding approximately 69% of the market.

IMPORTANT POINTS TO LOOK OUT FOR

• Cams has posted the highest quarterly results, with a Revenue growth of 15% to 269 Cr. and a Net Profit of 86 Cr, with a growth of 21%

• CAMS is making a couple of cups with handle patterns; hence, it has been proven that the stock is in a bull trend. And it will hit its target soon. 

• CAMS can show an upside movement of 34% approx from the current price in the upcoming days 

• Target – 3906

FOR DETAILED ANALYSIS OF CAMS PLEASE CHECK OUT

Best stocks for swing trading this week 6

5. FINOLEX CABLES

One of India’s top producers of telecom and power cables is Finolex Cables Limited. As one of the nation’s largest and oldest wire and cable firms, Finolex has been in business for more than 50 years and has managed to hold its dominant position.

Finolex began producing household appliances and Fast-Moving Electrical Goods (FMEG) in addition to a broad range of wires and cables. The company has built a solid reputation and has been the go-to source for institutional and retail electrical solutions in India.

IMPORTANT POINTS TO LOOK OUT FOR

• Finolex Cables Ltd. has posted quarterly results with a Revenue growth of 06% to 1222 Cr. and a Net Profit of 128Cr, with a downfall of 5%. The little bit of downfall in net profits in one quarter is normal because the overall net profit growth every year is positive.

• The Stock has made a beautiful Cup with a Handle pattern. It started moving towards the target but lately because of the overall market condition it retraced below the buying level.

• Because of the inflation, the expenses have been increased for both companies, but they will decrease as inflation decreases in the upcoming days. 

• The price can go down further after the buying as per the market scenario, but that is temporary. We have to believe in the company’s business

• The Finolex Cables price can move upward. approx 20% from the current price in the upcoming days.

• Target – 1279

FOR DETAILED ANALYSIS OF CAMS PLEASE CHECK OUT

Best stocks for swing trading this week 7

6. GODREJ CONSUMER PRODUCTS

Godrej Consumer Products is a rapidly expanding consumer goods company that produces and distributes personal care and household goods. The company produces a wide range of goods under more than ten brands throughout different regions. India makes up 56% of total sales, with the USA, the Middle East, and Africa coming in second and third, respectively, at 25% and 14%.

IMPORTANT POINTS TO LOOK OUT FOR

• Godrej Consumer Products Ltd has recently posted the highest-ever quarterly results with Sales of  3660 cr. at a Sales growth of 02% from last quarter and Net profit increased by 6.02% to 581Cr.

• Godrej Consumer Products Ltd. profits are growing regularly which is why it is simple to understand that the stock price will eventually follow the growth of the company. 

• Because of the increased repo rates, the stock is under pressure but after the 2nd quarter of 2024, repo rates are expected to be reduced by the RBI. It means eventually these companies will come out of pressure. 

• The Stock has made a beautiful Cup with a Handle pattern. It already gave a breakout and it’s on the way towards its target price. But it still has a lot of potential left. 

• Godrej Consumer Products Ltd can rise to 23% approx

• Target – 1543

FOR DETAILED ANALYSIS OF GODREJ CP PLEASE CHECK OUT

Best stocks for swing trading this week 9

Note – The information is for education purposes only. We are not a SEBI-registered advisory. Please consult your financial advisor before trading or investing money in the stock market.

CONCLUSION

In a volatile market, short-term trading can be a thrilling activity with the possibility of rapid profits. As you go through the above are our Top 6 stocks for short-term trading part – 1 in 2024 You may spot short-term trading opportunities and make wise investing selections by keeping up with market trends, keeping an eye on significant happenings, and doing thorough research.