Buy Or Sell: 7 Technical Stock Picks By VLA Ambala On Thursday, January 11, 2024

Stock Market Today: Nifty's key range is expected to be between 21,500 and 21,430, serving as a significant support range in this month and Q4, believes VLA Ambala of Stock Market Today - SMT.

Stock Market Today - Key Levels for Watch in Intraday Trading for Thursday

VLA Ambala of Stock Market Today -SEBI Registered Research Analyst at Stock Market Today - SMT suggested that Nifty has its major support range at 21500 to 21430 and it is Nifty weekly support too. Hence buyers will try to save this range this month. Because if this range gets a breakdown Nifty could fall for another 2% to 3.5% in this month.

Post the 21785 breakout Fresh buying will be seen in the market and then Nifty will be chasing 22500 in this quarter. Right now, it is trading just above its 20 days EMA which is an averaging level for many traders and investors.

Key support to Nifty in today's Intraday Trading session will be at 21470 and 21400 and resistances will be at 21630 and 21750. She went on to add that the Bank Nifty index is also traded in a wide range and further support for Intraday will be at 47200 and 47000 and key resistances should be at 47680 and 47870.

Stocks To Buy Today

On stocks to buy today, VLA Ambala recommended 7 intraday stocks for today and those three shares are GNFC, ABB, JINDALSTEL, BERGEPAINT, MARUTI, PIIND and BALKRISIND.

Gujarat Narmada Valley Fertilisers & Chemicals

Buy at Rs 678, target Rs 800/805/820/830/840/850/870/900, stop loss Rs 715.

ABB India

Buy at Rs 4930, target Rs 5000/5050/5100/5150/5300/5400/5000, stop loss Rs 4720

Jindal Steel And Power

Buy at Rs 730, target Rs 760/790/800/815/830/840/850, stop loss Rs 690.

Berger Paints India

Buy at Rs 590, target Rs 605/608/615/630/650/670/700, stop loss Rs 555

PI Industries

Buy at Rs 3450/55, target Rs 3550/3570/3610/3650/3700, stop loss Rs 3350.

Balkrishna Industries

Buy at Rs 2600/2610, target Rs 2740/2800/2850/2900/3000, stop loss Rs 2500.

Maruti Suzuki India

Buy at Rs 10000/10050, target Rs 10300/10350/10400/10500, stop loss Rs 2500.

Note: 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.