Swing Trading Guide: 2 Stock Picks By VLA Ambala On Tuesday, 30th April

On Monday, Banknifty stocks experienced the most rally, recording a fresh all-time high. This fresh momentum follows with the Banknifty stock declaring positive results for Q4 of FY23-24. On the other hand Nifty, Nifty, NIFTY MID SELECT, and Sensex also seem ready to join this race. Notably, we are amid a bullish run, and after a pullback, we may expect to see a fresh all-time high, said V.L.A. Ambala, a Research Analyst (SEBI Registered), Co-founder - Stock Market Today (SMT)

"With the ongoing election, the price action does not demonstrate a bearish track on the charts. This means that dips are likely to be bought in the futures market as well. However, it will hardly matter which political party comes into the regime, as India is currently among the most lucrative investment destinations in the world. Our country hosts both skilled and unskilled manpower with a host of natural resources. Additionally, being the world's most populous country India represents a huge consumer market that global investors can no longer ignore," the analyst further added.

Market Outlook

"During the day, Nifty also formed a bullish 'Marabozu' candlestick pattern at the daily timeframe, signaling a bullish sentiment in the market. On the other hand, Bank Nifty formed a Bullish Belt Hold at the daily timeframe, reflecting a strong rally in the index. Additionally, several global giants including Amazon and Google are recording positive quarterly results that could trigger momentum in the markets, especially in concerned sectors. Investors seeking to enjoy the current rally in the coming weeks should stay invested. However, the inflation level is still at a very high level which is likely to continue influencing the livelihood cost and shake up the market momentum soon," she commented.

Nifty & Bank Nifty Outlook

"For the Nifty index, the key support levels for the next trading session will be around 22600 and 22530, whereas resistance will likely be noticed between 22685/22750/22850. On the other hand, the Banking Index could find key support at 49230 and 49050, and witness 49480 and 49800, acting as their major resistance points," VLA Ambala predicted

Stocks To Buy Today

Below are the 2 swing trading recommendations by V.L.A. Ambala, a Research Analyst (SEBI Registered), Co-founder - Stock Market Today (SMT) on Tuesday, 30th April.

SUPREMEIND

• TRADE TITLE: INTRADAY
• TRADE TYPE: BUY
• ENTRY PRICE RANGE: Rs. 4600 - 4640
• TARGET 1: Rs. 4680
• TARGET 2: Rs. 4720
• TIME PERIOD: INTRADAY
• STOP LOSS: Rs. 4560

AARTISURF

• TRADE TITLE: INTRADAY
• TRADE TYPE: BUY
• ENTRY PRICE RANGE: Rs. 720-725
• TARGET 1: Rs. 732
• TARGET 2: Rs. 740
• TIME PERIOD: INTRADAY
• STOP LOSS: Rs. 712

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.