Swing Trading Guide: 5 Stocks To Buy On Monday As Recommended By VLA Ambala of SMT

Amid the bearish sentiments, the major index closed on a bearish note. We had asked that Price has to reach its averages before the next move, this is how the price behaves and in just 2 days it has reached its 20-day EMA and closed at 19748 today but it's not done yet. Still, there are possibilities that the price could trade in the 2% to 4% range this week. NIFTY and BANK NIFTY both Index have formed a bearish Marubozu at weekly time frame. Weak global cues may continue to pressurize domestic market sentiment for a few days, said VLA Ambala.

Global Cues

India- Canada issue is getting more tense and its adverse impact is hurting our markets. Many countries are now getting involved in this matter. Weak global cues such as FED Interest rate futures planning announcements, High Inflation, Geo-politics, and Dollar and Crude rising prices continued to put pressure on our domestic market sentiment. India's action on gaming and online sports action is increasing the gap line in Saudi and the Indian Govt. It's time to be cautious ahead and if you are a long-term market participant stay tuned to buy this dip opportunity. As an emerging economy and democratic country, it is not a good situation for us. This needs to get in control as soon as possible", VLA Ambala, SEBI registered Analyst at Stock Market Today (SMT) on her outlook on major market trends and indices.

Domestic Cues

At NSE, Nifty5o was down by 68 points or 0.34 per cent at the 19,674 level, while the S&P BSE Sensex slipped by 221 points or 0.33 per cent at the 66,009 level on Intraday on Friday. All the broader market indices and sectors have ended the day on a weaker note except PSU Banks and Auto. This may continue for a few days.

Nifty50 has tested 20 EMA and has formed a Bearish candlestick at weekly time frame. Price could trade in the 2% to 4% range in the coming days. This Weekly low is very crucial for the coming weeks. NIFTY could see major support at 19520/19330 and resistance at 19760/19900.

However, Bank Nifty major resistance for today as of Monday 25th Sep should be at 44940/ 45200. Major support will be 44410/ 44130," She remarked further on key levels for Nifty and Bank Nifty for today.

Swing and Day trading stocks for Monday by VLA Ambala

Here are the 5 intraday and swing stocks for Monday as recommended by VLA Ambala (SEBI Registered Research Analyst).

Balkrishna Industries

BALKRISIND looks good to buy above 2490 to 2545 (range) and has a target expectation of 2600 to 2760 with a stop loss of 2380.

Zee Entertainment Enterprises Limited

ZEEL looking good to buy at the 270 range and has a target expectation of 295 to 320 with a stop loss of 247. ''Price is trading above its important EMA which could act as a major support point for this.

SBI

SBIN looking good buy in the 570 to 576 range and has a target expectation of 590 to 650 with a stop loss at 530.

Maruti Suzuki India

Buy MARUTI at 10500 and hold it for 10800 to 12500 in a very short term. Keep stop loss at 10100.

Apollo Hospitals Enterprise

Buy APOLLOHOSP near the 5030 range and hold it for a target ranging from 5150 to 5450 in the mid-term. Keep its stop loss at 4850.

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.