Buy/Sell: From ZEEL To INFY; 4 Stock Picks By VLA Ambala On Tuesday, March 26

By the end of the trading session on Friday, the benchmark index, Nifty, had bounced back and took support at its 50-day Exponential Moving Average (EMA), which is near the 21870 mark. During the day, the index traded in the wide range of 1.20% intraday.

Notably, on the daily timeframe, Nifty formed a bullish green pattern, indicating a strong buying trend in the market. Except the Nifty IT, all sectors ended the day in the green. However, by the end of the day, the index could not surpass the previous day's high.

Review of the Stock Market

During the session, Nifty appeared more bullish than the Banking Index. Notably, the market is silently preparing for some of the major events of this financial year, headed by anticipation around US FED's announcement of rate cuts and General Assembly Elections in India. However, the domestic market currently looks stable, as seen by the India VIX, which traded at 11.80. In the next trading session, the index may find key support at 22120 and 22050 and face major resistance at 22180 and 22250 points, said V.L.A. Ambala, a Research Analyst (SEBI Registered), Co-founder - Stock Market Today (SMT).

Market View for 26th March 2024

For the Nifty index, the key support levels for the next trading session will be around 22050 and 21980, whereas resistance is likely to be noticed at 22120 and 22200. On the other hand, the banking index could find key support at 46670, 46400, and 46200, with 47050 and 47250 acting as their major resistance points. V.L.A. Ambala added.

Stocks To Buy On Tuesday

From Infosys to Zee Entertainment Enterprises Limited, V.L.A. Ambala, a Research Analyst (SEBI Registered), Co-founder - Stock Market Today (SMT) has recommended 4 stocks to buy or sell on Tuesday, 26th March.

INFY

• TRADE TITLE: SWING TRADE
• TRADE TYPE: BUY
• ENTRY PRICE RANGE: Rs. 1520 - 1530
• TARGET 1: Rs. 1550
• TARGET 2: Rs. 1590
• TIME PERIOD: 5-20 Days
• STOP LOSS: Rs. 1484

ZEEL

• TRADE TITLE: SWING TRADE
• TRADE TYPE: BUY
• ENTRY PRICE RANGE: Rs. 145 - 146
• TARGET 1: Rs. 155
• TARGET 2: Rs. 170
• TARGET 2: Rs. 190
• TIME PERIOD: 6-40 Days
• STOP LOSS: Rs. 135

RELIANCE

• TRADE TITLE: SWING TRADE
• TRADE TYPE: SELL
• ENTRY PRICE RANGE: Rs. 2900 - 2905
• TARGET 1: Rs. 2870
• TARGET 2: Rs. 2850
• TARGET 2: Rs. 2825
• TIME PERIOD: 4-30 DAYS
• STOP LOSS: Rs. 2930

ZEAL

• TRADE TITLE: SWING TRADE
• TRADE TYPE: BUY
• ENTRY PRICE RANGE: Rs. 10.80 - 11
• TARGET 1: Rs. 12.20
• TARGET 2: Rs. 13.50
• TARGET 2: Rs. 15
• TIME PERIOD: 5-60 Days
• STOP LOSS: Rs. 9

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.