Stocks To Buy Today: Top 10 Swing Trading Stock Picks By VLA Ambala of SMT

Benchmark stock market indices saw a significant rebound on Monday, closing the trading session on a positive note. In just trading sessions, Nifty and Sensex recovered more than 1.50% and closed above their day open price. It's a magic of 200 EMAs which was at 18836 and 63400 receptively Nifty and Sensex. And further another 1.00% to 1.50% move is possible in case the price sustains its day's open. The S&P BSE Sensex increased by 329.85 points to finish at 64,112.65, while the NSE Nifty 50 gained 93.65 points to settle at 19,140.90. Broader markets also displayed strength as volatility decreased.

Looking forward, there is potential for Nifty to reach 19,350 in the next couple of sessions. The overall market outlook remains stable to positive until Diwali and this is boosted by positive quarterly results. However, minor corrections may occur, particularly influenced by the global situation, notably the Israel-Hamas conflict. In line with the positive trends in European and Asian markets, the domestic market in India experienced a boost, leading both benchmark indices to close higher for the second consecutive session.

A majority of the sectoral indices bounced back on Monday, with high-weightage Nifty Bank, Nifty Financial Services, and Nifty IT ending in positive territory. Nifty Realty was the top gainer, rising over 2.3%, followed by Nifty Oil & Gas.

Nifty closed around 19,148, and for today, intraday support levels are at 19110/19030. These levels may provide opportunities for buying, especially for those looking to sell during price increases. Intraday support levels for Nifty50 are at 19230/19350/19425. However, it's essential to note that a "Buy on Dip" strategy is recommended in a downtrend's impulsive move.

Bank Nifty Outlook for Today

The nearest support levels for Bank Nifty today are 42920/42700. Considering the overall market movement, the major resistance levels for intraday trading are 43530/43850/43950.

Swing Trading Stocks To Buy Today

VLA Ambala, a SEBI Registered Research Analyst, has provided recommendations for five stocks for intraday and swing trading:

Suven Life Sciences

Consider buying HSUVEN above 75, with a target range of 82 to 120 and a stop loss at 62.

Kopran

Accumulate more KOPRAN in the range of 227 and hold for a short-term target of 250 to 375, with a stop loss at 185, as it is near a breakout range.

Senco Gold

Accumulate more SENCO in the range of 664 and hold for a short-term target of 700 to 870 with a stop loss at 620, as it is trading near a breakout range.

Cholamandalam Financial Holdings

Consider buying CHOLAHLDNG around 1130/1140, with a target range of 1190 to 1,250 and a stop loss at 1080. The price is trading near an important EMA, providing significant support.

NLC India

Buy NLCINDIA at 135 and hold for a mid-term target ranging from 143 to 180, with a stop loss at 310.

CE Info Systems

Buy MAPMYINDIA at 2080 and hold for a mid-term target ranging from 2220 to 2550, with a stop loss at 1890.

BLS International Services

Buy BLS at 256 and hold for a mid-term target ranging from 270 to 300, with a stop loss at 236.

HBL Power Systems

Buy HBLPOWER at 291 and hold for a mid-term target ranging from 310 to 380, with a stop loss at 250.

TCS

Buy TCS at 3380 and hold for a mid-term target ranging from 3410 to 3320, with a stop loss at 1890.

PI Industries

Buy PIIND at 3360 and hold for a mid-term target ranging from 3390 to 3465, with a stop loss at 3260.

These recommendations are based on price movements, historical behaviour, and technical analysis, as provided by VLA Ambala, a SEBI Registered Research Analyst.

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.