Market Outlook: Following a strong close on October 16, with the Nifty ending up +1.03% at 25,585, the market is signaling a flat-to-positive start for tomorrow. Global cues, reflected by the Gift Nifty trading at 25,668 (+0.91%), suggest continued strength. Traders should look for buying opportunities in stocks showing technical breakouts in sectors like consumer goods, power, and hospitality, especially with the upcoming Diwali festive season and Q2 earnings reports. The overall market bias remains bullish as long as stocks trade above their key Exponential Moving Averages (EMAs).
Top 5 Swing Trading Opportunities for October 17
Expert analysts have highlighted the following five stocks, showing strong technical setups, ideal for short-term swing or intraday trading.
| Stock (Approx. Price) | Action | Target Price (Exit) | Stop Loss (Risk Management) | Key Reason for Entry |
| RCF (~₹146) | BUY | ₹155 | ₹141 | Expect a quick 6% gain due to strong momentum and a surge in fertilizer demand. |
| Indian Hotels Company (~₹727) | BUY | ₹750 | ₹705 | Driven by the hospitality sector rebound and a boost from festive bookings, the stock is trading strongly above its trendline. |
| Bikaji (~₹732) | BUY | ₹790 | ₹713 | A strong technical indicator, signaling a trendline breakout coupled with a significant volume reversal. Targets the ₹800 mark soon. |
| Voltas (~₹1,421) | BUY | ₹1,530 | ₹1,365 | Displaying two major bullish patterns: an Inverted Head & Shoulders formation and a bullish flag breakout on the daily chart. |
| Manorama Industries (~₹1,537) | BUY | ₹1,650 | ₹1,480 | A classic breakout play backed by increasing strength in the consumer goods segment after a period of consolidation. |
Trader's Checklist for October 17:
Risk Management: Do not risk more than 0.5% to 1% of your total capital per trade.
Entry Timing: Look to enter positions during minor pullbacks to confirm demand and reduce risk.
Trail Your Stop Loss: Once the stock hits the first profit target (TP1), immediately trail the Stop Loss (SL) to protect your gains.
Stay Informed: Keep an eye on any sudden shifts in US market cues, as they can impact Indian market volatility.
Execution: Always verify the latest live prices directly on the NSE before executing any trade.