Stocks To Buy: 3 Technical Trade Calls By VLA Ambala On Monday, 1st Jan

The Indian Stock Market is presently undergoing a robust uptrend that is expected to endure. In the last trading session for the Calendar year 2023, all Major indices like NIFTY, SENSEX, BANK NIFTY, MID Cap and SMALL Caps all touched their "All-TIME HIGHs". Indeed, it was a remarkable year for the Indian Stock Market and its continuation as predicted. Consider any "Pullback" as a "Dip Buying Opportunity" said VLA Ambala, a SEBI Registered Analyst.

The price action has primarily been positive sideways, observing Indian stocks reaching unprecedented levels. The overall market sentiment is positive, fuelled by substantial investments from Foreign Institutional Investors (FIIs). The current strategy suggests embracing a buy-on-dips approach in this upward trajectory, with a notable support level marked at 21,500 for the ongoing financial year and foresees an additional 10% to 15% increase in Nifty during Q4 2023. She exudes confidence in the positive market outlook, citing technical indicators, price signals, and overall market sentiment. Underscoring the bullish trend, Ambala consistently advises considering market downturns as opportunities for cost-effective entry.

Today's projection, underscores substantial support levels for Nifty 21600 and 21520, while major resistance points are pinpointed at 21800 and 21970. To capitalize on this movement, it is recommended to stay invested in robust stocks, utilizing trailing techniques to secure maximum gains in highly surged stocks. Nifty has reclaimed its 21500 range and it's going to be major support this next and Q4 for this Financial year according to V.L.A. Ambala, a SEBI Registered Research Analyst and Co-Founder of Stock Market Today (SMT).

The banking sector has performed lower compared to the benchmark index, indicating a potential pullback move for further upward momentum. In today's trading, significant support levels for Nifty Bank are predicted at 48000 and 47700, with notable resistance points at 48320 and 48530. V.L.A. Ambala, a SEBI Registered Research Analyst and Co-Founder of Stock Market Today (SMT), emphasized the ongoing potential for banking stocks to experience upward movement after pullback.

Stocks To Buy Today

VLA Ambala has provided intraday and swing trading recommendations on 1st January 2024, Monday for the following stocks in her role as a SEBI Registered Research Analyst:

Container Corporation of India

Buy above the 835/845 range and the target could be expected in the range of 870 to 950, setting a stop loss at 820.

Zee Entertainment Enterprises

Trading nearly at 276 and looking suitable for buying now and holding for a mid-term target ranging from 275 to 300, with a stop loss at 260.

Tata Motors

Buy above the 750 to 770 range and the target could be expected in the range of 830 to 1200, setting a stop loss at 680.

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.