Day Trading Guide For Today: VLA Ambala Recommends 5 Stocks To Buy/Sell On Wednesday, 27th Sept

Nifty and Sensex both closed in red for 6 days in a row and now it is down over 3% from its all-time highs. Both Index are trading just above 50 Day Ema which is very crucial for the next move in the market. It was mixed cues day as some sectors traded in positive range and some ended up in red.

Global Cues Impact

Indian markets are still "Apple of an eye" among the available options in global economies. Oil prices fall as a high-interest rate outlook outweighs tight supply and it's a relief for us. However, the U.S. dollar hit a 10-month high on Tuesday 26th Sep 2023, as higher bond yields attracted more investors.

High Inflation, the tension in geo-politics with border countries, rising Dollar prices and crude oil prices continued to put huge pressure on our domestic market sentiment. Fin Min also admitted that the second part of FY 2023 -2024 is a bearish time for our markets but I have a contra view until we are sustained above crucial levels. The growing divide between India's regulations on gaming and online sports activities and the stance of OPEC nations is widening, posing a potential concern for long-term market participants.

It is advisable to remain vigilant and consider seizing the opportunity presented by the market dip. As an emerging economy and democratic nation, this situation is not favourable for India, and it must be addressed promptly. These are the insights shared by VLA Ambala, a SEBI registered Analyst at Stock Market Today (SMT), regarding her perspective on the prevailing market trends and indices.

Domestic Market Cues

Amid the bearish market mood, it was kind of another pause day. However, the sentiment remained bearish. Price is behaving exactly as we had explained in past last few days before. Now Nifty is trading very close to its 50 days EMA and it is important to sustain above this range otherwise price could fall more. At NSE, Nifty5o has settled 9.85 points lower at the 19,664.70 level on Tuesday, while the S&P BSE Sensex was 78.22 points lower at the 65,945.47 level in Intraday. NIFTY IT, NIFTY CONSUMPTION, NIFTY FMCG, NIFTY FMCG, NIFTY AUTO, NIFTY PSU BANK and NIFTY PVT BANK should be in focus today.

Nifty50, has breached its 20 EMA and it is very close to its 50 Day EMA. Nifty has formed a Bearish candlestick at weekly time frame. Price could trade in the 1.65% to 4% range in the coming days. This Weekly low is very crucial for the coming weeks. NIFTY could see major supports at 19580/19490 and resistance at 19740/19830.

However, Bank Nifty major resistance for today should be at 44840/ 45035. Major support will be 44520/ 44300," She remarked further 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.

Garden Reach Shipbuilders & Enginers

GRSE looks good to buy above 810 to 820 (range) and has a target expectation of 910 to 1000 with a stop loss of 760.

Jyothy Labs

JYOTHYLAB looking good to buy in the 365 to 370 range and have a target expectation of 390 to 435 with a stop loss of 325. ''Price is trading above its important EMA which could act as a major support point for this.

Hemisphere Properties India

HEMIPROP looking good buy in the 119 range and has a target expectation of 124 to 135 with a stop loss at 114. ''Price is trading above its important EMA which could act as a major support point for this

Barbeque-Nation Hospitality

Buy BARBEQUE at 750 and hold it for 800 to 1150 in a very short term. Keep stop loss at 680.

PI Industries

Buy PIIND near the 3420 range and hold it for a target ranging from 3470 to 3580 in the mid-term. Keep its stop loss at 3330.

"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.