Day Trading Guide: VLA Ambala Recommends 5 Stocks To Buy Today

Amid the mixed sentiments major index Nifty closed. We had asked that Price has to reach its averages before the next move, this is how the price behaves and in just 2 days it has reached its 20-day EMA and closed at 19748 today but it's not done yet. Still, there are possibilities that the price could trade in the 2% to 4% range this week. NIFTY and BANK NIFTY both Index have formed a very big range bearish candlestick at the weekly time frame. Weak global cues may continue to pressure domestic market sentiment for a few days, said VLA Ambala.

Global Cues Impact

Markets were just trying to adjust to ongoing distress between Indian- Canada political issues and in between we have got one more - Russia has banned its oil supply to all not Soviet countries. It big dent for us Russia has promised to supply discounted crude oil. Now this will work like a burning fuel to this High Inflation Fire in Middle Eastern countries and we are one of them. Reliance which is one of the leading crude oil refinery players in India has been falling since September starting almost 20 Days. So, you have to trust this "Price Action Acts Before the NEWS come in Market".

High Inflation, Tension in Geopolitics with border Countries, and Unstoppable Rise in 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.

India's action on gaming and online sports action is increasing the gap line in OPEC countries and the Indian Govt. It's time to be cautious ahead and if you are long-term market participant stay tuned to buy this dip opportunity. As an emerging economy and democratic country, it is not a good situation for us. This needs to get in control as soon as possible", VLA Ambala, SEBI registered Analyst at Stock Market Today (SMT) on her outlook on major market trends and indices.

Domestic Cues

Amid the bearish market mood, it was kind of a pause day. The Indian benchmark indices NIFTY and SENSEX took a small pause today, formed a Doji Candlestick at the daily time frame and closed on a flat note. However, the sentiment remained bearish. Price is behaving exactly as we had explained in the last few days. Now Nifty is trading very close to its 50-day EMA and closed at 19674 today. If you are planning Reversal, be cautious until you get any strong reversal signal in this pull-back movement. Still, there are possibilities that the price could trade in the 2% to 4% range this week. NIFTY and BANK NIFTY both Index have formed indecision or pause candlestick at daily time frame.

At NSE, Nifty5o was down 0.30 points and ended the day at 19,674.55 level, while the S&P BSE Sensex up by 0.33 percent at 66,023.69 level in Intraday on Monday. NIFTY ENERGY, NIFTY METAL, NIFTY FMCG, NIFTY CONSUMPTION, NIFTY INFRA, NIFTY PSU BANK and NIFTY PHARMA 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 19560/19400 and resistance at 19810/19900.

However, Bank Nifty major resistance for today should be at 44930/ 45220. Major support will be 44420/ 44000," 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 on Tuesday for Intraday and swing trading.

Bombay Super Hybrid Seeds

BSHSL looks good to buy above 250 (range) and has a target expectation of 270/285/300/310/330/350 with a stop loss of 230.

Shipping Corporation of India

SCI looking good buy at the 142 range and has a target expectation of 160/170/175/180/190/200 with a stop loss of 120. ''Price is trading above its important EMA which could act as a major support point for this.

Indian Metals and Ferro Alloys

IMFA looking good buy in the 425 range and has a target expectation of 480/500/520/550/570/600 with a stop loss at 370. ''Price is trading above its important EMA which could act as a major support point for this

Century Textiles and Industries

Buy CENTURYTEX at 1080/1095 and hold it for 1150/1200/1240/1280/1350/1400 in a very short term. Keep stop loss at 990.

Uttam Sugar Mills

Buy UTTAMSUGAR near the 430/445 range and hold it for a target ranging from 500/550/600/650/700/750 in the mid-term. Keep its stop loss at 370.

"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.