Day Trading Guide: 5 Swing Trading Stocks To Buy/Sell On Tuesday

It was a bullish attempt, however, we still need to be cautious if our view is a short-term investment. The selling pressure was seen in the last few days. Overbuying was seen in all sectors except in IT. Inflation is already a burning issue among all economies and if crude oil price keeps on rising and sustains above the 90 USD level, it will be a major cause of concern and it's going to work as fuel for the burning inflation problem, said VLA Ambala of SMT.

Global cues are still under pressure. weakness.

If bond yield keeps on rising it's gonna insist FIIs to stay in selling mode."

"The Nifty has witnessed a significant sell-off from its path and on Friday failed to sustain above its 20 days EMA.

Now if it couldn't take support in 19470, we could see more selling pressure ahead.

On the weekly timeframe, NIFTY has declined for two consecutive weeks. And two days range has formed a bullish harami candlestick pattern but sentiments are still Bearish until it's trading below its range. This indicates the buyer's attempts in this selling mood.
Looking ahead, the Nifty may decline towards 19,210, only if it fails to sustain above Friday's low which is 19553. Immediate key support for Tuesday should be at 19,490 and the post that next is at 19350. Major resistance is positioned at the higher end at 19,730 and 19840.

However, Bank Nifty's major resistance for Tuesday should be at 44870/45100 and major support will be 44230/44000/43870," She remarked further on key levels for Nifty and Bank Nifty for Tuesday.

Swing and Day trading stocks for Tuesday by VLA Ambala

On intraday and swing stocks for Tuesday, stock market experts - VLA Ambala (SEBI Registered Research Analyst)- recommended 5 stocks to buy or sell on Tuesday.

RITES

RITES looking good to buy above 500 (range) and have a target expectation of 515 to 540 with a stop loss of 478

Welspun Corp

WELCORP looks good to sell below the 390 range and has a target expectation of 380 to 376 with a stop loss at 262.

Jindal Saw

Sell it below the 343 range and have a target expectation of 337 to 325 with a stop loss of 355.

Sun Pharma Advanced Research Co Ltd

Buy it at 235 and hold it for 245 to 264 in a very short term. Keep stop loss in consideration of 217.

Bandhan Bank

Buy near the 342 to 338 range and hold it for targets ranging from 350 to 390 in the mid-term. Keep its stop loss at 330.

"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.