Stocks To Buy Today: 3 Technical Calls By VLA Ambala On Thursday, 14th Dec

For the second consecutive day, the Sensex and Nifty benchmarks have extended their downward trajectory, driven by the anticipation surrounding the Federal Reserve's monetary decision. Presently, our markets are trading about 2% above the 20-day Exponential Moving Average (EMA), and there is an expectation that this margin will narrow soon. Despite the prevailing bullish trend, there is an anticipation of a pullback. Notably, Reliance Industries, HDFC, and ICICI Bank are exerting additional pressure on the market indices.

Looking ahead to the trading session on December 14, 2023, key support levels for Nifty are estimated at 20815 and 20640, while significant resistance points are identified at 20950 and 21020. The banking sector serves as an indicator of the overall index performance, suggesting potential upward movement following a pullback. For the upcoming December 14, 2023, trading session, notable support levels for Nifty Bank are anticipated at 46950 and 46630, with significant resistance points at 47320 and 47520. This analysis is provided by V.L.A. Ambala, a SEBI Registered Research Analyst and Co-Founder of Stock Market Today (SMT).

Stocks To Buy Today

SEBI Registered Research Analyst, VLA Ambala, has furnished intraday and swing trading recommendations for the following stocks on December 14, 2023:

Happiest Minds Technologies

Consider initiating a buy position above the 900 range, holding for targets ranging from 950/965/980/1000 with a stop loss at 825. Daily and weekly RSI indicators suggest a favorable setup for this stock.

Indian Railway Finance Corp

Consider entering a buy position above the 75 to 80 range, holding for targets ranging from 90 to 140, with a stop loss at 62. Daily and weekly RSI indicators suggest favorable conditions for this stock.

Hindustan Zinc

Consider initiating a buy position above the 300 range, holding for targets ranging from 340 to 370, with a stop loss at 305. Daily and weekly RSI indicators suggest a favorable setup for this stock.

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.