Swing Trading Guide: 2 Stock Picks By VLA Ambala On Friday, 26th April

Just like we have been speculating on the next possible market momentum for some days, the dip has been acquired as expected. Following a notable pullback ranging from 3% to 5%, Nifty appears geared up to reach a fresh record high. In fact, despite the gap-down opening, the benchmark index managed to recover overnight losses and ended the day on a positive note, surpassing the last session's high, said V.L.A. Ambala, a Research Analyst (SEBI Registered), Co-founder - Stock Market Today (SMT).

During Thursday's session, Nifty showed resilience by remaining steady around the 22500 range. This also signals that the benchmark index could be back on track and record a new milestone within 5-15 days. With the index being 1% away from a record high, a rally is likely to appear soon. During the day, Nifty also formed a bullish 'Belt Hold' candlestick pattern at the daily timeframe, suggesting a potential reversal in the market trend. Besides this, a wide intraday range of 220 points was noticed, the analyst further added.

Market Outlook

"For the Nifty index, the key support levels for the next trading session will be around 22650 and 22780, whereas resistance will likely be noticed between 22800 and 22940. On the other hand, the Banking Index could find key support at 48650 and 48500, and witness 49000 and 49220, acting as their major resistance points," VLA Ambala further stated.

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 or sell on Friday, 26th April.

BHARATFORG

• TRADE TITLE: INTRADAY
• TRADE TYPE: BUY
• ENTRY PRICE RANGE: Rs. 1270 - 1280
• TARGET 1: Rs. 1290
• TARGET 2: Rs. 1300
• TIME PERIOD: Intraday
• STOP LOSS: Rs. 1260

KSCL

• TRADE TITLE: BTST
• TRADE TYPE: BUY
• ENTRY PRICE RANGE: Rs. 835 - 840
• TARGET 1: Rs. 850
• TARGET 2: Rs. 860
• TIME PERIOD: 1 Day
• STOP LOSS: Rs. 825

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.