If you want to make some quick bucks or make some seed money as an investment to monetize your passion, try swing trading. This is the safest option out there in trading. Day trading and scalping requires more time, emotional energy, and money. In swing trading, once a month, just do your analysis, enter a trade, set stop loss and target, and then leave to pursue your passion. So now, let’s see some of the best swing trade ideas for this month!
STRATEGY :
The following is the most common strategy I use for swing trading.
Stock selection : Consolidation+Market structure breakout + Above 50 & 200 EMA, previous day bullish & volume breakout
Entry: Previous HH breakout and Previous candle breakout
Stop Loss : 1 ATR below previous high / swing
Target : SL * 1.5 and above.
For stop loss and target, either follow rules according to the strategy (mentioned below) or follow ATR (given in the image) along with your Risk Reward Ratio.
For more detailed strategy, check out this post on market structure.
Top 7 swing trade ideas
1. IRFC
CMP : 38.20
Technical analysis :
This stock IRFC has been consolidating till October 2023. It gave a breakout, a pullback and touches the resistance of 36.40 Rs, 3 times. Now it has broken the resistance with good volume and it is about to give a minimum of 10% returns.
2. BHAGYANAGAR INDIA
CMP : 66.70
Technical analysis :
This stock has given a breakout of a 2-year consolidation. It has also given a strong bullish candle with huge volume breakout.
3. BEML
CMP : 2014.90
Technical analysis :
This stock has been in a range since 2022 and it has given a bullish candle with huge volume.
4. IRCON INTERNATIONAL
CMP : 97.30
Technical analysis :
After a long consolidation, the stock gave a breakout near 50, went up and again gave a consolidation breakout.
5. DHANALAXMI BANK LTD
CMP : 22.30
Technical analysis :
After a consolidation breakout, it went up and agun consolidated. Now it is expected to move up till the resistance level of Rs.25.
6. BTC INR
CMP : 2703451
Technical analysis :
Here in Bitcoin vs Indian rupees, the previous down trend has been broken and a pullback was formed at 2370000. It has gone up since then and touched the resistance at 2703451. If it crosses above that level, it will be a good bull run.
7. NZD/JPY
CMP : 88.403
Technical analysis :
Nice consolidation breakout has happened with a pullback. This will be the perfect time for entry.
Resources
Track with me with this Public Notion Trading Journal & see the past 3 months performance.
About Post Author
Resources & Links
Tradingview – Charting Platform
Zerodha – Trading brokerage platform (India)
Disclaimer
Trading involves substantial risk, and past performance is not indicative of future results. Always conduct your own research and consider seeking professional advice before making any investment decisions. The information provided on this platform about digital entrepreneurship is based on the author’s experiences and industry knowledge. It should not be considered as financial, legal, or business advice. Please consult with experts in these fields before making business decisions. This blog may contain affiliate links, and we may earn a commission if you make a purchase through these links. Your support is appreciated.
