Stocks To Buy: 2 Swing Trading Stock Picks By VLA Ambala On Tuesday 25th June

In the latest trading session, the benchmark index Nifty opened at a low but managed to close the day on a positive note. Despite opening with a down gap of 0.75% Nifty and Bank Nifty closed above Friday's level, indicating resilience. During the day, the daily RSI for Nifty stood at 61 indicating bullish strength, while the weekly and monthly RSI stood at 68 and 77 respectively in intraday, suggesting higher prices, and indicating a possible sell-up situation if all-time highs are tested. On the other hand, the RSI for Bank Nifty was seen at 65 on the daily timeframe and formed a Bullish Marubozu pattern, while the RSI for the index was at 69 on the weekly, and 70 on the monthly timeframes.

"Even the volatility indicator, India VIX rose 6.68% during the session, closing at 14.06, suggesting bullish tendencies. This is important with the upcoming announcement of the general assembly speaker on the 26th of June, which also marks the monthly end of the June series. Another development is Wipro's removal from the Sensex, which has been replaced by Adani Ports, increasing the index's focus on the logistics and ports sector. Amid these, individuals with a low-risk-taking capacity are advised to avoid the market altogether invest with covered positions, or focus on equity during this period to minimize the chances of risk," said V.L.A. Ambala, a Research Analyst (SEBI Registered), Co-founder - Stock Market Today (SMT).

Market Outlook Today

"For the Nifty index, the key support levels for today's trading session will be between 23570 and 23500, whereas resistance will likely be noticed between 23610 and 23680. On the other hand, the Bank Nifty Index could find key support between 51650 and 51540, and witness 51950 and 52100, acting as their major resistance points," VLA Ambala added.

Nifty & Bank Nifty Prediction Today

Ashwin Ramani, Derivatives & Technical Analyst, SAMCO Securities said, "Strong put writing was observed at the 23,400 & 23,500 Strike in Nifty, which led to the steady Intraday up move in the Index. The high of 23,339 made on 3rd June, 2024, which acted as a resistance earlier, is likely to act as a strong support for Nifty. The Bulls, the put writers (2.76 lakh contracts) led the Bears, the call writers (2.35 lakh contracts) marginally at the 23,500 Strike and the option activity at this strike will provide cues about Nifty's future direction."

"Bank Nifty recovered quickly from the gap down opening and rose steadily throughout the day to close at 51,704, up 43 points. Strong put writing was observed at the 51,500 Strike in the index. The high of 51,133 made on 3rd June, 2024, which acted as a resistance earlier, is likely to act as a strong support for Bank Nifty. The option activity at 51,700 Strike will provide cues about Bank Nifty's Intraday direction today," the analyst further added.

Stocks To Buy Today

VLA Ambala has recommended 2 swing trading stocks to buy or sell on Tuesday, 25th June for investors who are looking for holding periods of 1 to 5 days.

• Swing Trade: GRWRHITECH
• Type: Buy
• Entry Range: Rs. 2,110-Rs. 2,100
• Target 1: Rs. 2,240
• Target 2: Rs. 2,300
• Stop Loss: Rs. 1,940
• Time Period: 1-5 Days

• Swing Trade: AEROFLEX
• Type: Buy
• Entry Range: Rs. 155- Rs.158
• Target 1: Rs. 164
• Target 2: Rs. 167
• Target 3: Rs. 170
• Stop Loss: Rs.149
• Time Period: 1 Day

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.