VLA Ambala Recommends 5 Swing Trading Stocks To Buy On Wednesday, 25th Oct

The bears have a firm hold on the index, resulting in significant selling pressure. This pressure has caused the breach of a critical psychological support level, which is currently about 1% below the present price. While we may see a minor rebound, it's essential to consider a strategy of selling when prices rise for better results.

Technically the market has formed a "Double Top Chart Pattern" which is considered a very bearish pattern and right now it's just at its "Neckline", hence in the coming days NIFTY could be trading in the 1.5% range very easily.
The selling pressure is likely to persist, and, as previously mentioned, we expect the market to trade within a range of 1.5% to 3.30% in the next few weeks.

Market participants are already grappling with inflation concerns, and the unstable conditions in major global economies, along with geopolitical tensions, are adding additional pressure. There's also the possibility of an interest rate increase by the US Federal in its upcoming meeting, VLA Ambala remarked on it.

Bank Nifty has also experienced a downtrend with a steep fall of 1.30% in its most recent closing. It has broken through the 43,500 level and witnessed a sharp decline. As it heads towards the 43,000 psychological level, it's possible that after a minor pullback, selling could resume. It's advisable to focus on selling when prices rise in the coming days, and it's crucial to set modest targets for long positions, taking into account yesterday's low price if it holds steady.

Foreign Portfolio Investors (FPIs) are expected to continue selling, creating downward pressure on banking stocks, which constitute a substantial portion of their assets under Management (AUM). This situation presents an opportunity for local investors to acquire these stocks at reasonable valuations. However, if FII selling persists, it may lead to more sell-offs in our markets, she said.

India, along with other global economies, is grappling with high inflation and making efforts to control it. While the benchmark index is striving to maintain its low points, global uncertainties could impact our markets in the short term. Investors and traders need to exercise extra caution in the coming days and be ready to "Buy the Fear" but go in phases so that you can do pyramiding if required.

Nifty Outlook for Tomorrow

Nifty had witnessed significant selling. A strong competition is underway between Domestic Institutional Investors (DII) and Foreign Institutional Investors (FII). Now it looks like both are selling. Currently, FIIs are in a net selling mode, withdrawing funds from our markets, which is a concern for all market participants. However, DIIs have been net buyers in the last week so far but now they may change sides, which is not a very good sign for markets.
There was substantial selling pressure in the market, and this trend may continue if prices remain above yesterday's low levels. This trend applies to all benchmark indices.

Nifty has closed below its previous and intraday opening price. Intraday support levels for tomorrow are at 19265/19100/19050/19860. These levels could be buying opportunities for those looking to buy on dips. Possible intraday resistance points for Nifty50 are at 19450/19520.

Bank Nifty Outlook for Tomorrow

Yesterday, Bank Nifty traded within a range of almost 300 points and closed below its opening price, forming a deep bearish candlestick on the daily time frame. It is trading below its Day EMA.

The nearest support levels for Bank Nifty are 42980/43850/43600/43520. On the other hand, considering its overall movement, major resistance levels for intraday trading are at 43520/43760.

Intraday and Swing Trading Stocks To Buy Tomorrow

VLA Ambala, a SEBI Registered Research Analyst, has recommended five stocks for intraday and swing trading tomorrow 25th October, Wednesday.

Swati Projects

Consider buying SWATIPRO above the range of 26 for a target range of 30 to 45, with a stop loss at 16.

Prestige Estates Projects

Consider buying PRESTIGE around 730, with a target range of 760 to 800 and a stop loss at 670. The price is trading above an important EMA, offering significant support.

Housing And Urban Development Corp

Buy HUDCO around 55 and hold for a mid-term target ranging from 60 to 80, with a stop loss at 44.

Medico Remedies

MEDICO seems attractive for buying in the range of 76 with a target range of 80 to 100 and a stop loss at 64. The price is trading above an important EMA, which could act as major support.

Tips Industries

Accumulate more TIPSINDLTD in the range of 305 to 325 and hold for a short-term target of 375 to 450. It is trading near its breakout range, with a stop loss at 260.

Central Depository Services (India)

Accumulate more CDSL in the range of 1245 to 1250 and hold for a short-term target of 1370 to 1450. It is trading near its breakout range, with a stop loss at 1200.

GOPAL IRON & STEELS CO.(GUJARAT)

Accumulate more GOPAIST in the range of 7 to 8 and hold for a short-term target of 9 to 15 as it is trading near its breakout range, with a stop loss at 5.50.

These recommendations are based on price movement, past behaviour, and technical analysis, as per VLA Ambala, a SEBI Registered Research Analyst.

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.