Best Swing Trading Stock for 2024 || Swing Trading Stock for May 2024

In the past 2-3 weeks, the Indian stock market has shown high volatility. Nifty 50 has dipped to 1000 points and simultaneously recovered the same. If you are a swing trader, then the market has given you a great opportunity to earn a good profit by holding your stocks for a week. 

Swing trading is considered the best form of trading as it is a very safe form of trading where you can carry forward your position until you reach your target. However, the selection of stocks is one of the most difficult parts of swing trading. 

If you talk about PSU stocks, they have shown significant growth. At the start of this month, most PSU shares dipped to 20-30%, which was an excellent opportunity for investors to buy those stocks at a dip. Last week, after the speech of our Prime Minister and Home Minister, the market showed continuous upper circuits. Due to that, most of the stocks have shown a growth of 15-20%. The investors have made a good profit on that rally. 

If you are thinking that you have missed the opportunity to earn, don’t worry. Here in this blog, we have made a list of stocks having the potential of breakouts in upcoming weeks. So, explore the complete article and find the best swing trading stock for tomorrow and add those stocks to your watchlist. 

List of Best Swing Trading Stock for Tomorrow

Here, we have provided you with a list of the best swing trade stocks you can add to your watchlist and monitor them for a perfect entry. We have made the list of these stocks after analyzing the following factors

• Stock Universe
• Sector
• Market capitalization
• Close Price
• PE ratio
• Daily Volume
• % Away from 52W High
• 1M Return bs Nifty (%)

So, let’s explore the list of stocks that have the potential to give you high returns.

1. Bharat Petroleum Corporation Limited (BPCL)

In the past few weeks BPCL share price has shown rapid growth and it is one of best opportunities for the swing trader to capture 20-25 points movement in it. The market is currently consolidating and once it will break out of the current zone you will get an opportunity to make great profits. If you are looking for the best swing trading stock for tomorrow, then as per the latest trading setup. The potential entry, target and SL can be:-

Current Market Price	654.10
Potential Entry	655
Potential Target	670
Potential Stop Loss	642

2. Bharat Heavy Electricals Limited (BHEL)

BHEL is one of the best stocks of my portfolio that I have added in my portfolio at Rs 195. This PSU share has high potential to hit its target. In the past two months this stock has made significant highs (Rs 312) and significant lows (Rs 212). Now it is trading at a price of Rs 305. It has great trade volume (2,26,80,313.00) and it has become a great choice of investors.

Current Market Price	305.65
Potential Entry	310
Potential Target	317-322
Potential Stop Loss	302

3. National Hydroelectric Power Corporation Private Limited (NHPC)

NHPC is one of the most low price stocks that has already given high returns to their investors. In my observation the stock has reached to Rs. 105 from Rs. 60 (around 90% return). However, it’s rally isn’t over yet. It has a great chance to make new highs in the upcoming time. If you are looking for best swing trading stock for tomorrow, you can hold this stock for a short time or you can keep it for swing trade. 

Current Market Price	102.45
Potential Entry	103
Potential Target	109+
Potential Stop Loss	98

4. Jindal Saw Limited

Jindal Saw Limited (JSW) has never disappointed its investors when it comes to returns. This single stock has shown 462.85% growth over the period of one year. It was trading at the price of 106.20 on 1 January 2023 and now (26 May 2024) it is trading at somewhere 600. If you follow different trading patterns then you can observe that it is showing the breakout of the triangle pattern. The market has been consolidating for more than a week and it is a clear symbol of breakout. You can keep it in your watchlist and wait for the best entry by following proper stop loss. 

Current Market Price	542.50
Potential Entry	546-548
Potential Target	566-568+
Potential Stop Loss	537

5. Railtel Corporation of India Ltd

It has been clear in the chart that the Railtel Corporation of India Ltd is sideways for a couple of weeks. However, the volume traded on daily is 29,57,013.00 which shows the interest of the operators or big investors in the stock. This is a little risky so if your risk management is high and you are a risky mover then you can invest in this stock. We have identified the entry, exit and SL of this stock. 

Current Market Price	428.45
Potential Entry	429.20
Potential Target	447+
Potential Stop Loss	425

6. Triveni Turbines

In the last 15 days, Triveni Turbines has shown strong selling momentum. It has fallen to -10.25% (-66.60) in the last fifteen days. Now it has invited the sellers to make positions. The stop loss of the seller may be around 605. All retailers are planning to make a selling position due to high sales in the past few days. Now, the possibility of reversal has been increased. The operators are highly interested in this stock. So, if you are looking for the best swing trading stock for tomorrow here you can go for a long position. The holding period can vary from 10-15 days as per the target and risk reward. 

Current Market Price	588.45
Potential Entry	583
Potential Target	603+
Potential Stop Loss	578

7. APL Apollo Tubes Ltd

There is no doubt that Apollo is one of the best tyre manufacturers in India. Over one year it has shown 70.18% (744.50) exceptional growth. If you have decent capital in your account and want to invest in a stock for better growth with safety then this stock is your one-stop-solution. According to the candlestick pattern there is a strong resistance at 1680 and the buyers will not dominate the market by sellers. As there has been a heavy selling the potential of the seller has become weak and there is a strong possibility of reversal from this point. 

Current Market Price	1694
Potential Entry	1695
Potential Target	1799
Potential Stop Loss	1660

Conclusion

This list is made for educational propose, and we don’t recommend any calls or tips to our readers. We are not SEBI or NSE registered analysts. We have 6+ years of working with the stock market, and we have made a list based on our experience.  

We have made this list based on the price actions such as support & resistance and trendline supports. All of the information provided above is not 100% accurate, but there is a huge possibility that the market might follow this pattern. If you are looking for the best swing trading stock for tomorrow, then this list might be helpful for you.

“Keep your money safe and invest wisely.“