Stocks To Buy Today: 5 Technical Calls By VLA Ambala On Friday, 15th Dec

Thursday, 14th December marked a historic day for the Indian market, with Nifty, Sensex, and Mid Cap all reaching unprecedented all-time highs. The predominant trend in the market is bullish, signalling preparations for another significant upward movement.

The day commenced with an impressive nearly 1% gap-up opening, successfully recovering from the weaknesses observed in the previous two days. Notably, the market closed with substantial intraday gains, amounting to almost 50%. Looking ahead, the spotlight in the upcoming weeks will be on sectors such as Pharma, Media, IT, Auto, and FMCG.

Looking at today's projections, key support levels for Nifty are expected at 21070 and 21010, while major resistance points are identified at 21250 and 21340. Stay invested in good stocks to ride this movement. Close monitoring is advised as Nifty is anticipated to approach 21500 soon mostly in Dec 2023.

The banking sector has outperformed the benchmark index and shows potential for further upward movement. In today's trading, significant support levels for Nifty Bank are forecasted at 47650 and 47500 with notable resistance points 48050 and 48370", V.L.A. Ambala, a SEBI Registered Research Analyst and Co-Founder of Stock Market Today (SMT), highlighted the continued potential for banking stocks to rise.

Stocks To Buy Today

For today, December 15, VLA Ambala, a SEBI Registered Research Analyst, released intraday and swing trading advice for five stocks.

Indus Towers

Trading above its important level, indicating a positive bias. Consider buying in the range of 195/200 for short to mid-term gains between 205 and 220. Place a stop loss at 187.

Oberoi Realty

Poised for a fresh impulsive movement with a positive breakout. Initiate long positions above the 1460 to 1490 range for a mid-term target between 1550 and 1650 and set a stop loss at 1220.

Samvardhana Motherson International

Suitable for buying above 98 to 99 for a breakout, holding for a mid-term target ranging from 105 to 125, with a stop loss at 92. Exercise caution due to its current oversold status.

Fsn E-Commerce Ventures

Consider buying in the 175 to 177 range, holding for targets ranging from 185 to 230, with a stop loss at 160. Daily and weekly RSI indicators suggest favorable conditions for this stock.

Jubilant FoodWorks

Consider buying in the 560 to 565 range, holding for targets ranging from 580 to 600, with a stop loss at 540. Daily and weekly RSI indicators suggest favorable conditions for this stock.

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.