Stocks To Buy: 2 Technical Trade Calls By VLA Ambala On Wednesday, 27th Dec

The major indices are currently encountering significant resistance at the highs of December 20th, posing a crucial barrier that, if breached, could trigger a new impulsive uptrend. There is a strong likelihood that NIFTY could reclaim its 21,500 level in the December 2023 series upon such a breakout.

Both the Sensex and Nifty have recorded gains of around half a per cent each, affirming the prevailing bullish sentiment. Analysts anticipate a range-bound trajectory for the indices in the final week of trading for the current calendar year.

In today's projections, key support levels for Nifty are foreseen at 21,380 and 21,320, while major resistance points are identified at 21,550 and 21,680. To capitalize on this movement, it is recommended to stay invested in robust stocks, utilizing trailing techniques to secure maximum gains in highly surged stocks. Close monitoring is advisable as Nifty is expected to approach the 21,500 mark again in December 2023, according to V.L.A. Ambala, a SEBI Registered Research Analyst and Co-Founder of Stock Market Today (SMT).

The banking sector has exhibited superior performance compared to the benchmark index, indicating potential for further upward momentum. In today's trading, significant support levels for Nifty Bank are predicted at 47,610 and 47,480, with notable resistance points at 47,920 and 48,135. V.L.A. Ambala, a SEBI Registered Research Analyst and Co-Founder of Stock Market Today (SMT), emphasized the ongoing potential for banking stocks to experience upward movement.

Stocks To Buy

VLA Ambala, a SEBI Registered Research Analyst, has recommended 2 stocks for intraday and swing trading on Wednesday, 27th December.

Kirloskar Industries

Buy above 3470/3490 and the target could be expected in the range of 3600 to 3800, setting a stop loss at 3250.

Happiest Minds Technologies

Trading nearly at 900/910 and looking suitable for buying now and holding for a mid-term target ranging from 940 to 1150, with a stop loss at 865. Exercise caution due to its current oversold status.

V.L.A. Ambala emphasizes that these recommendations are based on price movement, past behaviour, 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.