Buy/Sell: 4 Swing Trading Stock Picks By VLA Ambala On Tuesday, 2nd April

The Nifty benchmark index began the new Financial Year with a record high of 22529.95 on Monday. Then again, the stock market faced rejection of higher prices, leading to the formation of a 'Shooting Star' candlestick pattern with a long upper wick. Notably, it was a narrow-range sideways day, during which Nifty traded in a small 100-point range. However, we must note that there is no clear indication of a trend reversal in the stock market, at least for now. The March dip can now be considered as a buying opportunity and investors can reap benefits if they plan their moves well.

Stock Market Review

During the day, the Bank Nifty closed with a nearly 1% gain, concluding the session on a positive note. In addition, the index formed a 'Bullish Belt' hold candlestick pattern at the daily timeframe, suggesting a positive shift in investor sentiment. In the upcoming trading session, Nifty may observe key support at 22450/ 22390/22330 and resistances at 22510 and 22600. On the other hand, Nifty Bank may observe key support at 47500 and 47350 and major resistance at 47680 and 47810, said V.L.A. Ambala, a Research Analyst (SEBI Registered), Co-founder - Stock Market Today (SMT).

Market View for 2nd April 2024

For the Nifty index, the key support levels for the next trading session will be around 22450/ 22390/22330, whereas resistance will likely be noticed at 22510 and 22600. On the other hand, the banking index could find key support at 47500 and 47350, with 47680 and 47810 acting as their major resistance points, VLA Ambala further added.

Stocks To Buy Today

V.L.A. Ambala, a Research Analyst (SEBI Registered), Co-founder - Stock Market Today (SMT) has recommended 4 stocks to buy or sell today - 2nd April.

PURVA

• TRADE TITLE: BTST
• TRADE TYPE: BUY
• ENTRY PRICE RANGE: Rs. 226 - 228
• TARGET 1: Rs. 230
• TARGET 2: Rs. 235
• TARGET 2: Rs. 238
• TIME PERIOD: 3 Days
• STOP LOSS: Rs. 224

CDSL

• TRADE TITLE: BTST
• TRADE TYPE: BUY
• ENTRY PRICE RANGE: Rs. 1820 - 1830
• TARGET 1: Rs. 1850
• TARGET 2: Rs. 1870
• TIME PERIOD: 1 Day
• STOP LOSS: Rs. 1800

HINDCOPPER

• TRADE TITLE: BTST
• TRADE TYPE: BUY
• ENTRY PRICE RANGE: Rs. 304 - 308
• TARGET 1: Rs. 312
• TARGET 2: Rs. 315
• TARGET 2: Rs. 318
• TIME PERIOD: 3 Days
• STOP LOSS: Rs. 298

BTML

• Trade Type: Buy
• Entry Price Range: Rs. 178 - 179
• Target 1: Rs. 190
• Target 2: Rs. 200
• Target 3: Rs. 208
• Time Period: 15 Days
• Stop Loss: Rs. 165

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.