Buy/Sell: 4 Stock Picks By VLA Ambala On Tuesday, 19th March

By the end of the day on Monday, the intraday benchmark index ended above the 22000 range. Regardless of this feat, the price remains in the make-or-break levels. The Nifty noticed a shift in its support range, which has now moved to a lower level. At present, the key support range for this week can be found between 21500 and 21650.

In the next two days, if the benchmark index further breaks down and moves below the 21900 level, there will be a much higher probability of testing the new support range anticipated. Amid the prevailing conditions, I will advise F&O traders to maintain their hedged positions and stay covered if they are holding positional trades, said V.L.A. Ambala, a Research Analyst (SEBI Registered), Co-founder - Stock Market Today (SMT).

Technical Analysis of the Stock Market

The technical chart concluded the day, forming a small Doji candlestick at the daily timeframe. This suggests that the gap between the day's opening and closing prices was not vast. Judging by the current market momentum, I advise traders and investors to watch sectors like Media, Energy, IT, and Metal for major action and opportunities, stated the analyst.

Market View for 19th March 2024

For the Nifty index, the key support levels for the upcoming trading session will be 22020 and 21870, whereas resistance is likely to be observed at 22120 and 22170. On the other hand, the banking index could find key support at 45550 and 46000, with 46820 and 47000 acting as major resistance points, added V.L.A. Ambala, a Research Analyst (SEBI Registered), Co-founder - Stock Market Today (SMT).

Stocks To Buy On 19 March 2024

SFL

• BUY - Rs. 980
• TARGET - Rs. 1005/1020/1050/1100
• Stop Loss - Rs. 937

ADANIENT

• SELL - Rs. 3160-3200 (Strictly)
• TARGET - Rs. 3100/3050/3000/2950/2900
• Stop Loss - Rs. 3240

FINPIPE

• BUY BELOW - Rs. 225/228
• TARGET - Rs. 235/250/265/280/300
• Stop Loss - Rs. 210

INFY

• SELL - Rs. 1610-1600
• TARGET - Rs. 1580/1565/1550/1525
• Stop Loss - Rs. 1640

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.