Day Trading Guide: 5 Stocks To Buy/Sell Today As Guided By VLA Ambala of SMT

As we had discussed, selling pressure with pullback is expected on Wednesday and it must be ready for that. Today you can see all major indices opened nearly one percentage Gap Down and closed the day on a negative note. Inflation, Geo-politics, the Dollar and Crude rising prices are major causes of concern in the market as of now.

Technically Price has reached its ATH and formed an Evening Star candlestick chart pattern and in general people do some profit booking if they see such bearish signals to such a crucial level which leads to pullbacks or corrective moves. After the G20 summit Canadian and Indian diplomatic tensions impact are visible in our Markets and may continue for some small period. Corrective moves are part of the Bull run.

Bazar is in a Bullish movement and pullback is the common nature of the markets. If you keep waiting for big corrections you may not be enjoying the market swings. Hence as an Investor, always do SWOT analysis in the Market and go with the flow if you don't want to miss" said VLA Ambala, SEBI registered Analyst at Stock Market Today (SMT) on her outlook on major market trends and Index.

Amid the bearish sentiments, the major index closed in Red. However, sector-wise, Nifty PSU & PVT Bank, Nifty Metal slipped the most. and Metal falls the most. Most of the Indices have reached their 20-day EMA and there are possibilities that that price could trade in the 2% to 4% range this week.

At NSE, Nifty5o was down by 231.90 points or 1.15 percent at 19,901.40. level, while the S&P BSE Sensex slipped by down 796 points or 1.18 percent at 66,800.84 level Intraday on Wednesday. All the broader market indices also ended the day on a weaker note. This may continue for a few.

Nifty50, after forming a Price action for Bearish sentiments pattern "Evening Star Candlestick Chart Pattern" At daily time frame. It plunged almost 1.25% in just one day. Now it is around 0.75% away from 20 days EMA from its current Price. So, selling may continue more until it fills the divergence. Nifty could see major support at 19920 / 19800 / 19740 and resistance at 20050 / 20120.

However, Bank Nifty major resistance for today as of Thursday 21st Sep should be 45750 / 45900. Major support will be 45300 / 45000," remarked VLA Ambala on key levels for Nifty and Bank Nifty for today.

Swing and Day trading stocks for today by VLA Ambala

On intraday and swing stocks for today, stock market experts - VLA Ambala (SEBI Registered Research Analyst)- recommended 5 stocks to buy today for Intraday and swing trading. 5 trending stocks for Thursday. Here are the 5 best shares to buy for Intraday and Swing Trading by VLA Ambala - (SEBI RA, Stock Market Today)

Barbeque-Nation Hospitality

BARBEQUE looks good to buy above 740 to 752 (range) and has a target expectation of 810 / 900 with a stop loss of 665.

Gati

GATI looking good buy in the 145 to 152 range and has a target expectation of 170 to 350 with a stop loss of 140. ''Price is trading above its important EMA which could act as a major support point for this.

Kirloskar Oil Engines

KIRLOSENG looking good BUY ABOVE - 478 to 485 range and has target expectation- 530 /550+ with SL - 465. ''Price is trading above its important EMA which could act as a major support point for this

JK Tyre & Industries

Buy JKTYRE in the range of 270 and hold it for 280/ 300 in a very short term. Keep stop loss in consideration with a stoploss of 252.

REC

Buy RECLTD near the 256 range and hold it for a target ranging from 530/545/570. Keep its stop loss at 465.

"All of the recommendations are being provided here based on the price overall movement, previous behaviour and technical analysis"- said VLA Ambala (SEBI Regd. RA).

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.