Stocks to Swing Trade: Week of October 16, 2023

 Stocks for swing trading every week of October 16, 2023   

1. Phoenix Mills (PHOENIXLTD)

On a trailing 12-month basis, Phoenix Mills had operating revenue of Rs. 2,874.59 Cr. 77% annual sales growth is exceptional, 63% pre-tax profit is excellent, and 15% ROE is strong. Technically, the stock is safely above its important moving averages by about 8% and 27% from the 50DMA and 200DMA, respectively.

This week's Phoenix Mills PriceTarget:

    • Price as of Today's Market: Rs. 2015

    • Rs. 1955 as the stop loss

    • First goal: Rs. 2075

    • Target 2: 2135 rupees

    • One-week holding period

 

2. CONCOR, the Container Corporation of India

On a trailing 12-month basis, Container Corp. of India had an operating revenue of Rs. 8,097.97 Cr. A pre-tax margin of 19% is excellent, there is a good ROE of 10%, and yearly sales growth of 7% is good. Due to its excellent balance sheet and lack of debt, the corporation can consistently record rising earnings across economic cycles. The stock is comfortably trading above its 200DMA, about 6% above 200DMA, and near to its 50DMA from a technical perspective.

Share price target for Container Corporation of India for this week: 

• Price as of Right Now: Rs. 713

• Stop Loss: 692 rupees

• Aim 1: 735 rupees

• Rs. 755 for Objective 2

• One-week holding period

3. Welspun Corporation

On a trailing 12-month basis, Welspun (Nse) had operational revenue of Rs. 12,505.55 Cr. Outstanding annual revenue growth of 43%, pre-tax margin improvement needed at 3%, and ROE improvement needed at 4%. The company's balance sheet is strong, as seen by its reasonable 41% debt-to-equity ratio. Technically, the stock is well above its important moving averages, which are the 50DMA and 200DMA at about 17% and 58%, respectively.

Share price target for Welspun Corp. for this week: 

• Rs. 440 is the current market price.

• Stop Loss: 425 rupees

• First goal: Rs. 455

• Target 2 is 470 rupees.

• One-week holding period

4. IPCA Laboratories, Inc.

On a trailing 12-month basis, IPCA Laboratories had operational revenue of Rs. 6,246.16 Cr. A strong pre-tax margin of 12%, an 8% ROE, and an 8% sales growth every year are all desirable. A suitable debt-to-equity ratio of 11% for the business indicates a sound balance sheet. The stock is comfortably above its 200DMA, about 15% above 200DMA, and is trading close to its 50DMA from a technical perspective.

• Price as of right now: Rs. 959

• Stop Loss: 925 rupees

• Aim 1: 995 rupees

• Target 2: 1025 rupees

• One-week holding period

5. Ashokley (Ashok Leyland)

On a trailing 12-month basis, Ashok Leyland had an operating revenue of Rs. 42,893.69 Cr. Outstanding yearly revenue growth of 59%, a pre-tax margin of 5%, and a ROE of 14%. Concerns may arise due to the company's high debt-to-equity ratio of 228%. From a technical perspective, the stock is trading below its 50DMA and about 10% above its 200DMA.

Target price for Ashok Leyland shares this week: 

• Rs. 176 is the current market price.

• Stop Loss: 170 rupees

• First goal: Rs. 182

• Target 2: 188 rupees

• One-week holding period