Stocks To Buy: 3 Technical Trade Calls By VLA Ambala On Thursday, 4th Jan

A wide trading range is expected on January 4, 2024. Key support levels for Nifty are identified at 21420 and 21300, while major resistance points are noted at 21,570 and 21,630, according to insights from V.L.A. Ambala. To capitalize on this movement, it is recommended to stay invested wisely in strong stocks, utilizing trailing techniques for maximum gains in rapidly advancing stocks. V.L.A. Ambala, a SEBI Registered Research Analyst and Co-Founder of Stock Market Today (SMT) suggests that Nifty's key range is anticipated to be between 21,500 and 21,430, serving as significant support in the upcoming quarter of the financial year.

The banking sector has underperformed compared to the benchmark index, indicating a potential pullback for further upward momentum. In today's trading, significant support levels for Nifty Bank are forecasted at 47,570 and 47,350, with notable resistance points at 47850 and 48000, V.L.A. Ambala emphasizes the ongoing potential for banking stocks to experience upward movement after a pullback, highlighting stocks like Bandhan Bank, Kotak Bank, and Yes Bank.

Stocks To Buy Today

VLA Ambala provided intraday and swing trading advice for these stocks in her position as a SEBI Registered Research Analyst.

ideaForge Technology

Buy above the 830/850 range with a target expected in the range of 890 to 1000, setting a stop loss at 790.

Piramal Enterprises

Buy above the 942 range with a target expected in the range of 975 to 1150, setting a stop loss at 890.

Yes Bank

Buy above the 22 range with a target expected in the range of 24.50 to 30, setting a stop loss at 21.

V.L.A. Ambala emphasizes that these recommendations are derived from 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.