Buy/Sell: 3 Swing Trading Stock Picks By VLA Ambala On Thursday - 4th April

The Nifty benchmark index was trading within a small narrow range for the third consecutive day on Wednesday, with a small range of 180 points. As per my analysis, this current momentum in the stock market suggests a probability of a substantial movement in the range in the upcoming 1-3 days. Overall, the sentiment on Dalal Street was somewhat mixed during the trading session, said V.L.A. Ambala, a Research Analyst (SEBI Registered), Co-founder - Stock Market Today (SMT).
Currently, the Relative Strength Index (RSI) of the benchmark index stands at 60 at the daily and 69 at the weekly time frame, suggesting the index is leaning slightly towards the overbought zone. At present, the key support for Nifty at the weekly timeframe is at 22300, and a new upside rally could be noticed above the 22530 level, she further added.

Market View for 4 April 2024

For the Nifty index, the key support levels for the next trading session will be around 22430 and 22350, whereas resistance will likely be noticed at 22490 and 22560. On the other hand, the banking index could find key support at 47550 and 47400, with 47800 and 47930 acting as their major resistance points, predicted V.L.A. Ambala, a Research Analyst (SEBI Registered), Co-founder - Stock Market Today (SMT).

Stocks To Buy Today

V.L.A. Ambala, a Research Analyst (SEBI Registered), Co-founder - Stock Market Today (SMT) has recommended 3 stocks to buy or sell on Thursday - 4th April.

ZAGGLE

• TRADE TITLE: SWING
• TRADE TYPE: BUY
• ENTRY PRICE RANGE: Rs. 283 - 285
• TARGET 1: Rs. 290
• TARGET 2: Rs. 296
• TARGET3: Rs. 2320
• TIME PERIOD: SWING
• STOP LOSS: Rs. 272

JSWENERGY

• TRADE TITLE: SWING
• TRADE TYPE: BUY
• ENTRY PRICE RANGE: Rs. 550 - 565
• TARGET 1: Rs. 590
• TARGET 2: Rs. 610
• TARGET3: Rs. 630
• TIME PERIOD: 30 Days
• STOP LOSS: Rs. 525

ROHLTD

• TRADE TITLE: SWING
• TRADE TYPE: BUY
• ENTRY PRICE RANGE: Rs. 418 - 422
• TARGET 1: Rs. 435
• TARGET 2: Rs. 450
• TARGET3: Rs. 470
• TIME PERIOD: 50 Days
• STOP LOSS: Rs. 390

Note: V.L.A. Ambala emphasizes that these recommendations are based on price movement, past behavior, and technical analysis.

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.