Top 7 Stocks for short term trading Part 2 (2024)

Short-term opportunities exist for investors looking to make quick profits and benefit from fluctuations in the fast-paced environment of stock trading. In the previous article Part 1, we looked at the top 6 stocks for short-term trading (2024)

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

In this article, we will take a look at the Top 7 Stocks for short-term trading Part 2 (2024)

1. HDFC BANK

HDFC Bank is a publicly held banking company, the bank was incorporated in August 1994 under the name of ‘HDFC Bank Limited’, with its registered office in Mumbai, India. It provides a range of banking and financial services including retail banking, wholesale banking, and treasury operations. Currently, HDFC Bank Ltd. (HBL) is the largest private-sector bank in India.

IMPORTANT POINTS TO LOOK OUT FOR – 

• The Bank has offices and branches in Bahrain, Hong Kong, UAE, and Kenya where they offer NRI clients Offshore Deposits, Bonds, Equity, Mutual Funds, Treasury, and Structured products offered by third parties from the Bahrain Branch. As of March 31, 2022, the Balance Sheet size of International Business was US$7.66 Billion.

• HDFC Bank was the first bank in India to launch an International Debit Card in association with VISA (VISA Electron) and issued the MasterCard Maestro debit card as well.

• The Stock of the company is trading below its 20 DMA (Daily Moving Average), 50 DMA, and 200 DMA (DMA also known as SMA – Simple Moving Average). 

• Hdfc Bank has recently posted the highest-ever quarterly results with a Revenue of – 78,008 Cr.and highest highest-ever Net Profit Growth of 34% Year on Year to 17,718 Cr.

• Hdfc bank can show an upmove of 23% in the upcoming days. as per our  MA (Moving Average) Strategy. The Basis of this strategy is If the stock price is trading below its 20, 50, and 200-day moving Average and the fundamentals of the stock are growing at a respective higher rate then we can take an entry in the stock.

• Target – 2170 approx

FOR DETAILED ANALYSIS OF HDFC BANK PLEASE CHECK OUT

Best stocks for swing trading this week 8

2. HINDUSTAN UNILEVER

Hindustan Unilever is in the FMCG business comprising primarily of Home Care, Beauty & Personal Care, and Foods & Refreshment segments. The Company has manufacturing facilities across the country and sells primarily in India. In this segment, the company has a wide-spread portfolio of more than 900 SKUs The company earns 29% margins from this segment which is the most among its divisions.

IMPORTANT POINTS TO LOOK OUT FOR – 

• The company’s brands are available across 80 lakh+ stores across India and around 90% of all households in India use 1 or more of the company’s branded products.

• The company’s 31 manufacturing facilities and various other third-party manufacturers produce goods for the company. 

• Hindustan Unilever has recently posted average results neither good nor bad with a Net Profit Growth of 0.6 % and Year to Year basis of Rs 2,519 crore.

• According to our technical analysis, this stock has been trapped in a range for quite some time now. It is now trading at the lowest of its range. 

• As per our tried and tested Range Bound Strategy, it can show an upside move of 14% from the current price in the upcoming days.

• Target – 2720

FOR DETAILED ANALYSIS OF HINDUSTAN UNILEVER PLEASE CHECK OUT

Best stocks for Swing Trading this week – 2

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. INFOSYS

Infosys Ltd helps businesses implement strategies for their digital transformation by offering technology, outsourcing, consulting, and next-generation digital services. After TCS, it is the second-biggest information technology corporation in India.

IMPORTANT POINTS TO LOOK OUT FOR – 

• Infosys’s Digital Services (57% of revenues), Core Services (43% of revenues)

• Infosys Ltd has posted quarterly results with a Revenue growth of 1.5% to 38821 Cr. and a Net Profit of 6113Cr, with a downfall of 7%. 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 is making a beautiful Cup with a Handle pattern. It started moving towards the target but lately, because of the overall market condition, it went backward to the below buying level.

• Target – 1824

FOR DETAILED ANALYSIS OF INFOSYS PLEASE CHECK OUT

Best stocks for swing trading this week 9

4. MARICO

One of the top consumer products firms in India, Marico Limited is active in the international beauty and wellness markets. It is found in more than 25 nations in developing Asian and African markets. Leading companies in the fields of edible oils, healthy foods, male grooming, fabric care, hair care, and skincare are supported by it. Out of the approximately 12 million outlets in India, the company’s pan-India distribution network reaches 5.6 million outlets. E-commerce and modern trade accounted for 9% and 14% of domestic business in FY22, respectively.

IMPORTANT POINTS TO LOOK OUT FOR – 

• It is a popular company in its Segment. It has some popular brands like ‘Parachute’, Livon; Saffola, etc as we discussed in the overview of the company. These companies never stay for a longer period at the same price. 

• Marico has recently posted good quarterly results with a Net Profit Growth of 15.9% year-on-year basis to Rs 386 crore.

• According to our technical analysis, Marico had made a Cup With a handle pattern and gave a breakout, but it’s still available at a lower price. So it’s a great opportunity for us to enter this stock.

• As per our tried and tested Cup with Handle Strategy, It can show an upside move of 22% from the current price in the upcoming days.

• Target – 646

FOR DETAILED ANALYSIS OF MARICO PLEASE CHECK OUT

Best stocks for swing trading this week – 4

5. RELAXO

The biggest shoe manufacturer in India, Relaxo Footwears Limited, specializes in non-leather goods such as canvas shoes, athletic shoes, school shoes, rubber/EVA slippers, and more. In the “value” area of footwear, it leads as well.

Its portfolio includes well-known brands like Bahamas, Flite, Relaxo, and Sparx. Through distributors, retail stores, exports, e-commerce, and modern trade, the corporation offers its goods to merchants. 

IMPORTANT POINTS TO LOOK OUT FOR – 

• Relaxo Footwears Ltd. has recently posted good quarterly results with Revenue Growth of 5% to – 713 Cr. and PAT (Profit after Tax) growth of 28% year-on-year basis to 39 Cr.

• The rubber companies are under pressure these days because of the increased Repo rates by the RBI (Reserve Bank of India) and increased Crude oil prices. 

• The Raw material prices of these companies increased in the last couple of years. hence these companies profits have gone down. But in the upcoming days as RBI will reduce the Repo rate and Crude price will go down these companies will again post higher net profits, and the stock will move upwards.

• Relaxo Footwears can show an up move of 31% from the currency price in the upcoming days. as per our tried and tested CWH (Cup with handle) Strategy.

• Target – 1100

FOR DETAILED ANALYSIS OF RELAXO PLEASE CHECK OUT

Best stocks for swing trading this week – 4

6. VIP INDUSTRIES

VIP Industries has been known for the business of manufacturing and marketing luggage bags and their accessories since 1971. Their head office is in Mumbai. They are the world’s second-largest and Asia’s largest luggage maker.

IMPORTANT POINTS TO LOOK OUT FOR – 

• VIP Industries Limited is a manufacturer and supplier of luggage bags, backpacks, and handbags and the second-largest company in the world.  It is No.1 In the organized luggage space. hence, we can rely on the fact that this company will never go anywhere. It’s the safest company to invest in for the longer run as far as its stock is concerned

• In the financial year 2023, there were 23 new launches they made in the premium segment, including backpacks. This gives us an idea that the brand is changing with time and adding novelty now and then to stay relevant with time. also, the company is expanding its horizon phenomenally.

• The company operates through 10 of its Own Manufacturing Facilities in India and Bangladesh. Their in-house manufacturing contributes to 70% of total revenue, compared to 42% more than the Financial year 2020.

• According to Range bound Swing Trading Strategy, This stock has been trading in a range for the last 2 years. It’s taking the same resistance and the same support again and again.  

• Hence forming a range. According to us, it can show an upside move of 35% from the current price in the coming days.

• Target – 718

FOR DETAILED ANALYSIS OF VIP INDUSTRIES PLEASE CHECK OUT

Best stocks for Swing Trading this week

7. SIS LTD

Security & Intelligence Services (India) aka SIS LTD. This company is directly and indirectly engaged in rendering security and related services consisting of manned guarding, and training, and indirectly engaged in paramedic and emergency response services; loss prevention, asset protection, and mobile patrols; facility management services consisting of cleaning, housekeeping, and pest control management services. 

IMPORTANT POINTS TO LOOK OUT FOR – 

• SIS is one of the leading security solution-providing companies in India and the Asia Pacific regions. The company offers services to Governments, business organizations, and end consumers.

• This Company offers services like deep cleaning, disinfection, and hygiene management solutions to customers across India with special expertise in the fields of Pharma, Hospitality, and healthcare.

• SIS is the No.1 Security solutions providing company in Australia and they are among the top three in Singapore and Australia.

• SIS announced its vision for 2025 with two major goals;

•  a) Converting its market leadership into higher market share

•  b) Achieving 20% of the group EBITA(Earnings Before Interest, Taxes, Depreciation, and Amortization)in 2025 through tech-based solutions. 

• According to our technical analysis stock is making an RHS (Reverse head & shoulder) pattern. So we believe that the stock can show an upside move of 30% from the current price.

• Target – 639

FOR DETAILED ANALYSIS OF SIS LTD. PLEASE CHECK OUT

Best stocks for Swing Trading this week

Conclusion

As we explained these are the top 7 stocks for short-term trading part 2 (2024) short-term trading involves greater risk and volatility than long-term investing, you must approach it with precaution and research. if you keep up with market trends, keep an eye on significant changes, and do in-depth research. You can find successful trades in the market.