Swing Trading Guide: 2 Buy/Sell Stock Picks By VLA Ambala On Friday, 19th April

The stock market is trading at nearly 3% below its all-time high, and we are likely to witness it slip further by 2%. In this situation, I recommend continuing hedging portfolios and following natural to biased trading strategies for effective outcomes. Currently, there are multiple triggers at play that are adding to the bearish sentiment in the market. Some of the most aggravating triggers influencing the market's weak momentum include the escalation of conflict in the Middle East, the high inflation rate, and the unavailability of current economic data, according to V.L.A. Ambala, a Research Analyst (SEBI Registered), Co-founder - Stock Market Today (SMT).

However, I am optimistic the prevailing corrective trend will offer new opportunities to invest fresh funds into the market. However, it may take some time for those opportunities to appear in the market. This is why I recommend remaining watchful of the current market momentum and closely tracking variables before making any sudden trading or investment-related moves, the analyst further added.

Market View for 19 April 2024

For the Nifty index, the key support levels for the next trading session will be around 21940 and 21720, whereas resistance will likely be noticed at 22050 and 22130. On the other hand, the banking index could find key support at 46910 and 46500, with 47100 and 47220 acting as their major resistance points, stated V.L.A. Ambala.

Stocks To Buy Today

V.L.A. Ambala, a Research Analyst (SEBI Registered), Co-founder - Stock Market Today (SMT) has recommended 2 stocks to buy/sell on Friday-19th April.

FLAIR

• ENTRY: Rs. 300-318
• TARGET: Rs. 340/365/380/400/420/450
• SL: Rs. 265
• HOLDING Period: 2- 7 Months
• Technical Based

USHAMART

• ENTRY: Rs. 350-365
• TARGET: Rs. 400/415/440480/520
• SL: Rs. 310
• HOLDING Period: 3-6 Months
• Technical Based

Note: V.L.A. Ambala emphasizes that these recommendations are based on 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.