Swing Trading Guide: 3 Stock Picks By VLA Ambala On Thursday, 25th April

After experiencing a 4.5% slump from its record high, Nifty has been demonstrating strength, with the 22150 level acting as its immediate support. During the trading session on Wednesday, the benchmark index formed a 'High Wave Candlestick' pattern on the daily timeframe, signalling a sense of uncertainty in the market.

Review of the Stock Market

"Judging by the current momentum, I believe after the re-breakout of the 22500 range, we may witness the price trajectory remain bullish for a few weeks. Notably, any potential movement below the 22350 mark could be met with bearish sentiments. Then again, in the prevailing situations such dips are being met with increased buying interest. At present, the market activity appears to be more focused on individual stocks as we enter the quarterly earnings release period. While the corporate earnings growth is anticipated to witness a slowdown compared to previous years, we should expect it to remain steady supported by strong balance sheets and increased capital expenditure towards key sectors such as manufacturing, BFSI, and infrastructure," said V.L.A. Ambala, a Research Analyst (SEBI Registered), Co-founder - Stock Market Today (SMT).

Technical Analysis of the Market

"During the day, Nifty closed about its 20 and 50-day Exponential Moving Averages (EMAs), reflecting a short-term buying sentiment among investors. The index's Relative Strength Index (RSI) also stood at 54 on a daily and 64 on a weekly timeframe. Such a development signals there could be potential opportunities for dip buyers during bullish trends or positive momentum. Notably, if the market manages to sustain above the 22500 range this month, we may expect to witness a fresh all-time high within 20-40 days," VLA Ambala further added.

Market Outlook

"For the Nifty index, the key support levels for today's trading session will be around 22370 and 22300, whereas resistance will likely be noticed between 22450 and 22530. On the other hand, the Banking Index could find key support at 48150 and 48020, and witness 48250 and 48450, acting as their major resistance points," the analyst predicted.

Stocks To Buy Today

V.L.A. Ambala, a Research Analyst (SEBI Registered), Co-founder - Stock Market Today (SMT) has recommended 3 stocks to buy or sell on Thursday, 25th April based on swing trading basis.

GEOJITFSL

• TRADE TITLE: SWING
• TRADE TYPE: BUY
• ENTRY PRICE RANGE: Rs. 93 - 96
• TARGET 1: Rs. 100
• TARGET 2: Rs. 105
• TARGET 3: Rs. 110
• TIME PERIOD: 15 - 30 Days
• STOP LOSS: Rs. 85

SHYAMMETL

• TRADE TITLE: SWING
• TRADE TYPE: BUY
• ENTRY PRICE RANGE: Rs. 650 - 660
• TARGET 1: Rs. 690
• TARGET 2: Rs. 720
• TARGET 3: Rs. 740
• TIME PERIOD: 30 - 45 Days
• STOP LOSS: Rs. 609

BEPL

• TRADE TITLE: SWING
• TRADE TYPE: BUY
• ENTRY PRICE RANGE: Rs. 99 - 101
• TARGET 1: Rs. 110
• TARGET 2: Rs. 120
• TARGET 3: Rs. 135
• TARGET 3: Rs. 160
• TIME PERIOD: 15 - 180 Days
• STOP LOSS: Rs. 609

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.