5 Swing Trading Stock Picks For Today By VLA Ambala of SMT

India's strong stand against the terrors further strengthens its image in the world. Wars are definitely an extra burden on the economies. Wars are not good for the welfare of mankind. Indian markets are still showing reliant however strong weak global cues, which could impact our markets too, so short-term term investors and traders need to be extra cautious now at least for a few days.

Benchmark index is not so far from its "All Time High" (ATH). On Thursday, major index NIFTY witnessed a closing just close to its "July Month Closing price". We can understand that in Q1 to Q2 benchmark index delivered only marginal gain. Further, Nifty could trade in the 1.20% to 3% range in the coming 2 weeks. We have observed that geopolitical concerns often lead to an increase in risk aversion. The world is fighting with many big concerns, some are natural and some are man-made but ultimately, economies have to pay for this. War, a sudden rise in US bond yields, a spike in crude oil prices, and an upswing in the Dollar Index, all of these surely will have a deep impact on markets.

Nifty Outlook for Today

In the previous trading session benchmark index Nifty opened with a gap up and couldn't sustain above its "day's open price", and ended lower below 19,800 in the volatile session on October 12. Hence, it's a very crucial level now and if the price breaks this, sentiment will remain bearish and Nifty may witness more selling. But whenever it starts sustaining above today's high points, it is going to resume and continue the positive in the market. Worth to note here is FPIs are pulling out money from our markets, it's not a good sign in the longer run, if it continues", VLA Ambala said. Worth to note here is FPIs are still net sellers and pulling out money from our markets, it's not a good indication if it continues", VLA Ambala said.

Finally, Nifty has closed below its yesterday Open price. Intraday Nifty support levels are19755/19700/19640/19605. It's a buying zone for those who want to "Buy on Dips in case the price sees weakness. Nifty50 next possible resistance points should be at 19870/19948/19980 intraday on Friday" according to V.L.A. Ambala (SEBI Registered Research Analyst), Stock Market Today (SMT).

Bank Nifty Outlook for today

The banking sector was more bullish as compared to the benchmark Nifty. Intraday closing is a very major level for Banking Index, if this breaks breakdown again then more sell-off will be seen and bullish sentiments may continue above it.

Now Nifty Bank nearest support is 44510/4420/44300 on the other hand considering its overall movement, Bank Nifty will have major resistance at 44660/44750/44920 for Intraday trading. These levels will work best in the case of flat or up to 1% gap opening as per V.L.A. Ambala (SEBI Registered Research Analyst), Stock Market Today (SMT).

Swing and Day trading stocks for today

On intraday and swing stocks for today, stock market experts - VLA Ambala (SEBI Registered Research Analyst)- recommended 5 stocks to buy today for Intraday and swing trading.

Indian Energy Exchange

IEX looks good to buy above 134 and has a target expectation of 138 to 143 with a stop loss of 129.

Infosys

INFY looking good to buy in the 1420/1430 range and has a target expectation of 1470 to 1520 with a stop loss of 1380.

Bandhan Bank

BANDHANBNK looking good buy in the 248/250 range and has a target expectation of 254 to 270 with a stop loss at 240.

Kama Holdings

Buy KAMAHOLD at 16100 to 16380 and hold it for 16950 to 17300 in a very short term. It's trading near its breakout range. Keep stop loss in consideration of 15450.

Trigyn Technologies

Buy TRIGYN near the 128 range and hold it for a target ranging from 132 to 150 in the mid-term. Keep its stop loss at 118.

"All of the recommendations are being provided here based on the price overall movement, previous behaviour and technical analysis"- said VLA Ambala (SEBI Regd. RA).

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.