Stocks To Buy Today: 3 Swing Trading Stock Picks By VLA Ambala On 1st Nov

The Indian stock market is predicted to be erratic as investors anticipate the US Federal Reserve's key interest rate announcement on Wednesday. Along with these economic reports, investors should keep an eye on Wednesday's releases of the US and UK PMI, India, Europe's core CPI, US consumer confidence, and US nonfarm employment data. In terms of individual stocks, attention will be on Sun Pharma, Tata Steel, Britannia, Hero Motocorp, Godrej Consumer, Ambuja Cement, and Adani Wilmar when they release their Q2 financial results.

Nifty50 Outlook Today

In the last trading session, the day open was the day high and that indicates that sellers are still active on higher levels. However, it is trading in the range of 200- and 50-Day EMA. Another big movement is expected after this range. Yesterday, Nifty50 closed around 19,082 and for today, intraday support levels are at 19010/18935/18880. These levels may provide opportunities for buying, especially for those looking to sell during price increases. Intraday support levels for Nifty50 are 19170/19320/19350.

Bank Nifty Outlook Today

The nearest support levels for Bank Nifty today are 42705/42370/42040. Considering the overall market movement, the major resistance levels for intraday trading are 43100/43350/43520.

Stocks To Buy Today

VLA Ambala, a SEBI Registered Research Analyst, has provided recommendations for three stocks for intraday and swing trading on 1st November, Wednesday.

BPCL

Consider buying BPCL around 345/350, with a target range of 360 to 390 and a stop loss at 330. The price is trading near an important EMA, providing significant support.

NLC India

Buy NLCINDIA at 133 and hold for a mid-term target ranging from 143 to 180, with a stop loss at 310.

Zee Entertainment Enterprises

Buy ZEEL at 255 and hold for a mid-term target ranging from 270 to 295, with a stop loss at 240.

These recommendations are based on price movements, historical behaviour, and technical analysis, as provided by VLA Ambala, a SEBI Registered Research Analyst.

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.