Buy/Sell: 3 Swing Trading Stock Picks By VLA Ambala On Wednesday, 3rd April

Valuation is one of the key parameters to ascertain the correct timing to invest in any stock or segment. Currently, both mid and small-caps are available at a higher valuation than many large caps, hinting at a potential shift in the large-cap portfolio in the Q1 of this new Financial Year. In addition, after the stress tests of mutual funds, more than 1000 stocks have experienced corrections. As a result, those stocks are now available at a discounted valuation, creating an opportunity for traders to explore them.
However, with Lok Sabha elections approaching and the broader market displaying no signs of reversal, we are trading at fresh all-time highs. In this situation, I advise extra caution and urge investors to hedge their positions to protect gains. Based on these aspects, in FY Q1, the benchmark index will have support at 21800. Notably, during the day, Nifty formed the 'Doji' candlestick pattern, suggesting a somewhat neutral sentiment in the market, said V.L.A. Ambala, a Research Analyst (SEBI Registered), Co-founder - Stock Market Today (SMT).

Market View For 3 April 2024

For the Nifty index, the key support levels for the next trading session will be around 22390 and 22300, whereas resistance will likely be noticed at 22530 and 22620. On the other hand, the banking index could find key support at 47490/47300/47220, with 47700 and 47850 acting as their major resistance points, stated VLA Ambala.

Stocks To Buy Today

V.L.A. Ambala, a Research Analyst (SEBI Registered), Co-founder - Stock Market Today (SMT) has recommended 3 stocks to buy or sell today, 3rd April 2024.

TANLA

• TRADE TITLE: INTRADAY
• TRADE TYPE: BUY
• ENTRY PRICE RANGE: Rs. 915 - 925
• TARGET 1: Rs. 935
• TARGET 2: Rs. 950
• TIME PERIOD: INTRADAY
• STOP LOSS: Rs. 905

RGL

• TRADE TITLE: BTST
• TRADE TYPE: BUY
• ENTRY PRICE RANGE: Rs. 111 - 113
• TARGET 1: Rs. 116
• TARGET 2: Rs. 117
• TARGET 2: Rs. 118
• TIME PERIOD: 1 Day
• STOP LOSS: Rs. 109

FOCUS

• TRADE TITLE: BTST
• TRADE TYPE: BUY
• ENTRY PRICE RANGE: Rs. 158 - 159
• TARGET 1: Rs. 162
• TARGET 2: Rs. 163
• TARGET 2: Rs. 165
• TIME PERIOD: 1 Day
• STOP LOSS: Rs. 155

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.