Stocks To Buy: 3 Technical Trade Calls By VLA Ambala On Wednesday, 20th Dec

It's a Steep bull run and if the view is "Swing Trading" in some stock then it is most advisable to use Trailing to secure maximum profit. Market Trend is still bullish. Consider Profit Booking as part of the trading Journey and indeed outcome of trading.

Examining the outlook for December 20, 2023, V.L.A. Ambala, a SEBI Registered Research Analyst and Co-Founder of Stock Market Today (SMT), has pinpointed crucial support and resistance levels for Nifty. Support is anticipated at 21410 and 21320, while resistance is identified at 21530 and 21640.

The banking sector, having displayed a commendable performance against the benchmark index, shows promise for further upward momentum after a brief pause. Nifty Bank is expected to find substantial support at 47760 and 47630, with noteworthy resistance levels at 48030 and 48250. V.L.A. Ambala underscores the ongoing potential for an upward trajectory in banking stocks.

Stocks To Buy Today

On Wednesday, December 20, V.L.A. Ambala, a SEBI Registered Research Analyst, made three recommendations for intraday and swing trading.

Concord Biotech

Intraday performance indicates a rise from 41 to 44, suggesting potential for a new impulsive movement. Target ranges from 47 to 80, with a stop loss at 34.

Deepak Fertilisers And Petrochemicals Corporation

Trading above crucial levels and EMAs, signalling a positive bias. Consider purchasing in the range of 690 to 710 for short to mid-term gains between 735 and 800, with a stop loss at 630.

Laurus Labs

Suitable for buying above the 390 to 400 range, a breakout is possible. Hold for a mid-term target ranging from 415 to 550, with a stop loss at 375. Exercise caution due to its current oversold status.

V.L.A. Ambala emphasizes that these recommendations are derived from price movement, historical 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.