🚀 5 Support Swing Stocks for Tomorrow: 7th August — Don’t Miss These Picks!
Swing traders, get ready! 📈 Tomorrow, 7th August, the Indian stock market is lined up with 5 powerful stocks testing their key support levels. A solid support zone can be a goldmine for quick swing trades, provided you catch it before the bounce. Let’s break down the best opportunities: SWIGGY, INDIGO, MOTILALOFS, M&M, and HDFCBANK.
Why Support Levels Matter in Swing Trading? 🧐
Support zones are price areas where a stock repeatedly finds buyers. These zones are magnets for traders because they often signal a low-risk, high-reward entry point. When a stock touches or tests support, it can bounce strongly, offering quick gains with a defined stop-loss. ✅
📊 Quick Glance: Key Levels for 7th August
| 🏦 Stock | 🔥 Support Zone | 🚀 Strategy Idea |
|---|---|---|
| SWIGGY | Near key support zone | Watch for bullish reversal candles |
| INDIGO | Solid support area | Volume spike = confirmation signal |
| MOTILALOFS | ₹399.10 & ₹385.40 | Accumulate on dips with SL below |
| M&M | Trendline support | Bounce likely; RR favorable |
| HDFCBANK | Holding strong support | Reversal candles = potential entry |
1️⃣ SWIGGY 🥡 – Near Critical Support
Why Watch?
Swiggy’s stock price is currently consolidating around its support level after a steady decline. This creates a textbook setup for swing traders looking for an oversold bounce.
Technical Analysis Highlights:
✅ Momentum indicators show early signs of reversal
✅ Price action suggests buyers stepping in
Swing Plan:
🔸Entry: Above confirmation candle on hourly/4H charts📚 Related Post: “💹 Bullish Triggers Loading: 6 Stocks to Ride the Wave on 14 July”
2️⃣ INDIGO ✈️ – Ready for a Flight?
Why Watch?
INDIGO is testing a reliable support zone that has acted as a launchpad multiple times before. A sharp uptick in volumes could trigger a powerful rally.
Technical Analysis Highlights:
✅ Multiple wicks rejecting lower levels
✅ RSI near oversold territory
Swing Plan:
🔸Entry: On a breakout candle above immediate resistance3️⃣ MOTILALOFS 💼 – Building a Strong Base
Why Watch?
Motilal Oswal Financial Services (MOTILALOFS) is forming a solid base at ₹399.10 & ₹385.40, creating an attractive risk-reward swing opportunity.
Technical Analysis Highlights:
✅ Horizontal support zone at ₹385-399
✅ Bullish divergence forming on MACD
Swing Plan:
🔸Entry: Above ₹400 with confirmation4️⃣ M&M 🚜 – Trendline Retest
Why Watch?
Mahindra & Mahindra has retested its upward trendline support and is showing signs of a bounce.
Technical Analysis Highlights:
✅ Trendline held successfully
✅ Early bullish candles appearing
Swing Plan:
🔸Entry: Above bullish engulfing candle5️⃣ HDFCBANK 🏦 – Holding Strong Support
Why Watch?
HDFC Bank is maintaining its critical support level with signs of reversal candles forming — a must-watch for a potential quick bounce.
Technical Analysis Highlights:
✅ Consistent rejection of lower prices
✅ Institutional buying volume spotted
Swing Plan:
🔸Entry: After confirmation of reversal pattern🔎 Key Takeaways: How to Trade These Stocks
✅ Always wait for confirmation candles on hourly or 4H charts.
✅ Use strict stop-losses just below support zones.
✅ Monitor volumes — increased buying volume = stronger confirmation.
✅ Risk management is key; don’t risk more than 1-2% of your capital on a single trade.
🔥 Conclusion: 5 Best Support Plays for Swing Traders
Tomorrow, 7th August, the above 5 stocks offer the best potential swing trades for traders watching support bounces. Stocks like SWIGGY, INDIGO, MOTILALOFS, M&M, and HDFCBANK are showing reliable signs of holding their support levels, and if the market mood stays stable, these could lead to profitable short-term trades. 💸
📢 Don’t forget: Always follow your trading plan and stick to your risk management rules. Consistency and discipline are the ultimate edges in swing trading!
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