Stocks To Buy Today: 5 Swing Trading Stock Picks By VLA Ambala of SMT

It was a relief day for bulls on Friday as the market opened with a gap up opening. However, during the afternoon session, the market managed to recover all the previous day's losses and closed above yesterday's high and almost intraday highest point.

In a session marked by volatility, the equity indices concluded positively on October 27, with the Nifty index surpassing the 19,700 level and trading in around 1% range in Intraday. This gain was primarily driven by the strong performance of PSU Bank, Capital Goods, and Healthcare sectors.

At the closing bell, the Sensex had risen by 173 points, equivalent to a 0.26% increase, reaching 66,118 points. The Nifty, too, recorded a gain of 51.80 points or 0.26 per cent, ending the day at 19,716.50 points.

Most gainers on the Nifty index included Coal India, ITC, Larsen & Toubro, Cipla, and LTI Mindtree, while the losers featured Titan Company, Grasim Industries, Hero MotoCorp, SBI, and BPCL.

In terms of sector performance, the PSU Bank, Capital Goods, FMCG, Realty, and Healthcare indices saw gains ranging from 0.5 to 1 per cent, while there was some selling observed in the oil & gas sector.

Nifty50 Outlook for Today

Nifty closed nearly 18850 on Friday and today Intraday resistance levels are at 19215/19320/19400. These levels could be buying opportunities for those looking to sell on rise. Possible intraday support points for Nifty50 are at 19080/19020/18950. However, "Buy on Dip" is the most suggested strategy in a downtrend's impulsive move.

Bank Nifty Outlook for Today:

Today's nearest support levels for Bank Nifty are at 42690/42550. On the other hand, considering its overall movement, major resistance levels for intraday trading are 43040/43320/43450.

Intraday stocks to buy today

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

HP Adhesives

Consider buying HPAL above the range of 455 for a target range of 475 to 550, with a stop loss at 438.

Salasar Techno Engineering

Accumulate more SALASAR in the range of 47.50 and hold for a short-term target of 50 to 55 as it is trading near its breakout range, with a stop loss at 42.

Birlasoft

Accumulate more BSOFT in the range of 540/55 and hold for a short-term target of 553 to 562 as it is trading near its breakout range, with a stop loss at 507.

Varun Beverages

Consider buying VBL around 928, with a target range of 1000 to 1270 and a stop loss at 835. The price is trading near an important EMA, offering significant support

KIOCL

Buy KIOCL 350 and hold for a mid-term target ranging from 370 to 465, with a stop loss at 310.

These recommendations are based on price movement, past behaviour, and technical analysis, as per 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.