Stocks To Buy On Monday: 5 Swing Trading Stock Picks By VLA Ambala For 6th Nov

On November 3, Indian benchmark indices closed higher for the second straight day on the back of falling crude oil prices and US Treasury yields. Nifty gained 97.30 points or 0.51 per cent to close at 19,230.60, while the Sensex gained 282.88 points, or 0.44 per cent to settle at 64,363.78. Major Nifty gainers included Apollo Hospitals, Adani Ports, Eicher Motors, LTIMindtree, and Titan Company; losers comprised Bajaj Finserv, Dr. Reddy's Laboratories, SBI Life Insurance, IndusInd Bank, and Bajaj Finance. While all sectoral indices ended positively, with Nifty Realty spearheading the rise, all broad market indices closed in the green.

A majority of the sectoral indices bounced back, with high-weightage Nifty Bank, Nifty Financial Services, and Nifty IT ending in positive territory. Nifty Realty was the top gainer, rising over 2.4%, followed by Infra & PSU Banks.

Nifty closed around 19,200 in the week, and for today, intraday support levels are at 19200/19110/19050. These levels may provide opportunities for buying, especially for those looking to sell during price increases. Intraday resistance levels for Nifty50 are at 19320/19460. Major price action be seen at given levels in case of flat and slightly gap opening cases, said VLA Ambala - SEBI Regd. RA and Co-founder of Stock Market Today.

The nearest support levels for Bank Nifty today are at 43120/43000/42850. Considering the overall market movement, the major resistance levels for intraday trading are 43480/43820.

Intraday And Swing Trading Stocks To Buy On Monday

VLA Ambala, a SEBI Registered Research Analyst, has provided recommendations for five stocks for intraday and swing trading:

Adani Enterprises

Consider buying ADANIENSOL around 767, with a target range of 870 to 1150 and a stop loss at 600. The price is trading near an important EMA, providing significant support.

Sun Pharma Advanced Research Company

Buy SPARC at 240 and hold for a mid-term target ranging from 254 to 290, with a stop loss at 206.

Zomato

Buy ZOMATO at 113 and hold for a mid-term target ranging from 125 to 160, with a stop loss at 94.

Gail (India)

Buy GAIL at 122 and hold for a mid-term target ranging from 136 to 145, with a stop loss at 115.

Prestige Estates Projects

Buy PRESTIGE at 780 and hold for a mid-term target ranging from 825 to 1000, with a stop loss at 800.

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.