Buy/Sell: 3 Swing Trading Stock Picks By VLA Ambala On Wednesday 28th Feb

For the past few days, the global market has been observing mixed sentiments. Regardless, the Indian stock market has been resilient amid these cues and managed to be strong as it records lower price rejection in the benchmark Index. Presently, there are no prominent signs that suggest a reversal of this ongoing trend.

Meanwhile, the Indian stock market is also in its hustle phase as investors try to sustain its key support range within the 22830 to 21750 range. The current market momentum suggests a prevailing sense of optimism in the stock market and reflects the confidence of the investors. However, I believe that a new trend is underway, which could set in once the Nifty begins trading above the 22290 range. Notably, such a trend will likely continue for some time when set in motion, said V.L.A. Ambala, a Research Analyst (SEBI Registered), Co-founder - Stock Market Today (SMT).

Technical Review of the Market

During the next intraday session, Nifty is expected to gain support from the 22120 and 22080 range, while facing key resistance around the 22240 and 22350 levels. Under such a situation, I advise traders and investors to hold on to their quality stocks, especially those offering dip opportunities to amplify their chances of increasing gains to enjoy the bullish phase, the analyst added.

Key Levels to Monitor on February 28th, 2024

The Nifty index is expected to find support at the 22120 and 22080 levels, whereas the index's major resistance point for intraday trading could be between the 22240 and 22350 range. For the Bank Nifty, the intraday support levels could be between the 46570 and 46370 range, with resistance around the 46680 and 46800 levels.

Stocks To Buy Today

Stocks to Buy or Sell Today: VLA Ambala (SEBI Regd. Research Analyst) recommends checking out these three stocks on - February 28, 2024. According to her analysis, BEML, BSE, and BHARTIARTL

BEML

• TRADE TYPE: BUY
• ENTRY PRICE RANGE: Rs. 3290 - Rs. 3300
• TARGET 1: Rs. 3450
• TARGET 2: Rs. 3600/3800
• TIME PERIOD: 25-30 Days
• STOP LOSS: Rs. 3030

BSE

• TRADE TYPE: BUY
• ENTRY PRICE RANGE: Rs. 2390 - Rs. 2400
• TARGET 1: Rs. 2500
• TARGET 2: Rs. 2600
• TIME PERIOD: 25-30 Days
• STOP LOSS: Rs. 2300

BHARTIARTL

• TRADE TYPE: BUY
• ENTRY PRICE RANGE: Rs. 1120 - Rs. 1125
• TARGET 1: Rs. 1150
• TARGET 2: Rs. 1190
• TIME PERIOD: 15-30 Days
• STOP LOSS: Rs. 1090

Note: V.L.A. Ambala emphasizes that these recommendations are based on price movement, past behaviour, and technical analysis.

Disclaimer

The recommendations made above are by market analysts and are not advised by either the author, nor Greynium Information Technologies. The author, nor the brokerage firm nor Greynium would be liable for any losses caused as a result of decisions based on this write-up. Goodreturns.in advises users to consult with certified experts before making any investment decision.