Buy Or Sell: 5 Technical Stock Picks By VLA Ambala On Friday, 12th Jan

Stock Market Outlook Today - VLA Ambala, a SEBI Registered Research Analyst, advises short-term investors to exercise caution without undue worry in today's stock market scenario. The Nifty index is crucially supported in the range of 21430 to 21500, with an immediate resistance at 21780. At present, it is trading around 21650, indicating a significant possibility of a breakout. It is recommended to maintain investments in high-quality and reasonably valued stocks. Key sectors to monitor include Infrastructure, Auto, Metal, IT, Pharma, and Chemicals.

Stock Market Today

Nifty's key range is expected to be between 21,500 and 21,430, serving as a significant support range in this month and Q4 and with an immediate resistance at 21780, which is likely to have a breakout soon, believes VLA Ambala of Stock Market Today - SMT.

According to VLA Ambala, a SEBI Registered Research Analyst at Stock Market Today - SMT, the Nifty is currently experiencing significant support in the range of 21500 to 21430, which is also its weekly support. Buyers are likely to defend this range in the current month.

A fresh buying trend is expected after a breakout above 21785, with Nifty aiming for 22500 in the quarter. Presently, Nifty is trading slightly above its 20-days EMA, a crucial level for many traders and investors. In today's intraday trading session, key support levels for Nifty are anticipated at 21610 and 21540, while resistances are expected at 21770 and 21825.

Additionally, VLA Ambala mentioned that the Bank Nifty index is trading within a wide range. Intraday support for Bank Nifty is seen at 47270 and 47130, with key resistances at 47620 and 47750.

Stocks To Buy Today

Stocks to Buy or Sell Today: VLA Ambala (SEBI Regd. Research Analyst) recommends 3 stocks to buy today - January 12, 2024

Buy or sell stocks: VLA Ambala has recommended seven stocks to buy today for Intraday and Swing Trading- BALRAMCHIN, DEEPAKNTR, PNB and RITES.

Balrampur Chini Mills

Buy at Rs 395, target Rs 405/415/422, stop loss Rs 377;

Deepak Nitrite

Buy at Rs 2460, target Rs 2500/2530/2580/2600, stop loss Rs 2370.

Infosys

Buy at Rs 1450 to 1500, target Rs 1540/1570/1610/1650/1750/1850, stop loss Rs 1370.

PNB

Buy at Rs 95, target Rs 96.50/98/100/102/103.50, stop loss Rs 92

RITES

Buy at Rs 520/525, target Rs 540/550/560/570/585/600, stop loss Rs 500.

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.