Stocks To Buy Today: 6 Swing Trading Stock Picks By VLA Ambala of SMT On 3rd Nov

Following two days of shrinks, the market saw a recovery driven by gains in global indices, particularly the US index following a break marked by dovish remarks from the Fed concerning policy rates. The Nifty gained 144.10 points or 0.76 per cent to close at 19,133.30, while the Sensex surged 489.57 points or 0.77 per cent to settle at 64,080.90 on 2nd November.

On the other hand, the Nifty Bank wrapped up over 43,000, having recovered most of the losses from the previous two days. Britannia Industries, Hindalco Industries, IndusInd Bank, Apollo Hospitals, and Eicher Motors were the top gainers on the Nifty, while Hero MotoCorp, ONGC, Bajaj Auto, Adani Enterprises, and HDFC Life were the top losers.

A majority of the sectoral indices bounced back on Thursday, 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 19,144, and for today, intraday support levels are at 19115/19070. These levels may provide opportunities for buying, especially for those looking to sell during price increases. Intraday resistance levels for Nifty50 are at 19235/19345/19430. However, it's essential to note that a "Buy on Dip" strategy is recommended until it is trading above closing price", said VLA Ambala - SEBI Regd. RA and Co-founder of Stock Market Today.
The nearest support levels for Bank Nifty today are 42900/42710. Considering the overall market movement, the major resistance levels for intraday trading are 43230/43350/43750.

Stocks To Buy Today

VLA Ambala, a SEBI Registered Research Analyst, has recommended six stocks for intraday and swing trading on 3rd November, Friday.

IndusInd Bank

Consider buying INDUSINDBK around 1465, with a target range of 1500 to 1670 and a stop loss at 1391. 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.

Gujarat Gas

Buy GUJGASLTD at 408 and hold for a mid-term target ranging from 415 to 430, with a stop loss at 392.

Gail (India)

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

Roto Pumps

Buy ROTO at 370 and hold for a mid-term target ranging from 390 to 430, with a stop loss at 340.

BLS International Services

Buy BLS at 256 and hold for a mid-term target ranging from 270 to 300, with a stop loss at 236.

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.