Swing Trade ideas for next week - 3rd to 7th June

Are you looking to capitalize on potential market movements next week? This blog post dives into swing trade ideas for the week of June 3rd to 7th, helping you confidently identify promising opportunities and navigate the market. We’ll explore potential breakouts, strong support levels, and stocks with bullish momentum to equip you for a strategic swing trading approach. So, buckle up and get ready to explore swing trade possibilities for the upcoming week!

1. INFY – 1hr TF

INFY is currently trading near ₹1400, a critical support level. A strong bullish candlestick pattern on the 1-hour chart on Monday could signal a potential price bounce. This could be an opportunity for a swing-long trade entry.

Here’s what to consider:

Entry: Look for a strong buy signal on Monday, such as a bullish candlestick pattern forming above ₹1400 on the 1-hour chart.
Stop Loss: Place a stop-loss order below ₹1390 to limit potential losses if the price breaks down through support.
Targets: Potential price targets could be in the range of ₹1445 to ₹1475, representing a potential profit of 3.2% to 5.4%.

2. IDEA – 1hr TF

IDEA recently experienced a bullish range breakout and retested the previous resistance zone around ₹14.15 – ₹14.30. This retest offers a potential swing-long entry opportunity.

Here’s the trade setup:

Entry: Look for a strong breakout confirmation above ₹15.50 on a 1-hour chart. This could be a bullish candlestick pattern like a breakout bar or an engulfing candle.
Target: Aim for potential price targets in the range of ₹16.35 to ₹17. This represents a potential profit of 6.8% to 13.8%.
Stop Loss: Place a stop-loss order below ₹14.90 to limit potential losses if the price falls back to the retest zone.

3. TATAMOTORS – 1hr TF

Similar to Infosys, TATAMOTORS is at a critical support level of ₹920. A bullish breakout from this zone, accompanied by strong trading volume, could indicate a potential swing-long opportunity.

Trade Setup:

Entry: Look for a 1-hour chart breakout above ₹920 with a strong bullish candlestick pattern and significant volume increase. This strengthens the breakout signal.
Target: Potential price targets could be in the range of ₹970 to ₹990. This represents a potential profit of 5.4% to 7.6%.
Stop Loss: Place a stop-loss order below ₹913 to limit potential losses if the price breaks down through support.

Just keep in mind…

that next week is a week full of news and election results and the volatility can be extreme. Nifty and BankNifty Analysis are not included for the same reason. These ideas and trade analysis are for educational purposes, not trade signals. Remember, it’s not important to trade on every breakout, always wait for a strong signal on the charts.