Stocks To Buy Today: Top 5 Intraday Stock Picks By VLA Ambala On 22nd Nov

Benchmark indices exhibited a sideways to positive trend as US Treasury yields dipped below 4.5 per cent on November 21, prompting a sense of relief in the market. The Nifty and Sensex, our key indices, responded positively to the optimism observed in the US markets. Global market participants are eagerly awaiting the FOMC minutes of the monetary policy meeting for insights into the future outlook on interest rates.

Reflecting on the current scenario, it was previously noted that the market was in a "Pause Mood," and there is anticipation of a potential breakout from this phase soon. A pullback is anticipated if prices fail to sustain above the day's high. Nevertheless, Nifty has crucial weekly support at 19520, and as long as prices remain above this level, the strategy of "Buy on Dip" is considered the most suitable.Today's major support levels are expected at 19720 and 19685, while significant resistance points are identified at 19815, 19880, and 19925, according to V.L.A. Ambala, a SEBI Registered Research Analyst from Stock Market Today (SMT).

Bank Nifty Outlook

Bank Nifty trading in around 0.50% range and currently trading within the 20- and 200-day EMAs, in a critical range indicating an expected significant movement. Buyers participating in the bullish momentum will likely defend the price at the 200-day EMA, with the next support level around 42,930 if they fail. Major resistance levels for Bank Nifty are projected at 43780/43860. The nearest support for Bank Nifty is at 43,520, with buyers attempting to defend this level. If unsuccessful, subsequent support levels are at 43560/43430. It's crucial to note that 43,500 is a significant psychological support level. V.L.A. Ambala, a SEBI Registered Research Analyst from Stock Market Today (SMT), emphasizes its importance, especially in the case of flat and gap openings.

Intraday and Swing Trading Stock Recommendations by VLA Ambala

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

Shalby

Buy SHALBY at 310 and hold for a mid-term target ranging from 345 to 475, with a stop loss at 275.

Kirloskar Electric Company

Buy KECL at 125 and hold for a mid-term target ranging from 130 to 145, with a stop loss at 110.

PCBL

Buy PCBL at 235 and hold for a mid-term target ranging from 270 to 340, with a stop loss at 270.

Titagarh Rail Systems

Buy TITAGARH 900 to 950 and hold for a short-term target ranging from 1150 to 1450, with a stop loss at 815.

Salasar Techno Engineering

Buy SALASAR at 50/52 and hold for a mid-term target ranging from 60 to 85, with a stop loss at 43.

"All of the recommendations are being provided here based on the price overall movement, previous behaviour and technical analysis", said V.L.A. Ambala (SEBI Registered Research Analyst), Stock Market Today (SMT).

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.