Day Trading Guide: 5 Swing Trading Stock Picks By VLA Ambala of SMT For 12th October

On October 11, the key Indian stock indices maintained their early gains, drawing inspiration from the positive performance of Asian markets. With the exception of the Nifty PSU Bank sector, all major sectors remained in the green, bolstering overall market sentiment.

It's worth noting that even in the midst of the crisis in West Asia, global markets are displaying resilience. This resilience can be attributed to several factors, including the robust state of the US economy, the decline in US bond yields, and the belief that the Israel-Hamas conflict will likely remain a localized issue with minimal impact on crude oil prices. India's firm stance against terrorism is an additional positive factor. However, it's essential for investors to exercise caution, especially in this month.

The Nifty's proximity to its all-time high, just 2.5 per cent away, underscores the market's strength and ability to withstand challenges. Sustaining levels above the opening of the day is crucial to maintain this positive momentum. While Foreign Institutional Investors (FIIs) continue to be net sellers in the market, buying activity from Domestic Institutional Investors (DIIs), High Net Worth Individuals (HNIs), and retail investors is offsetting the sell-off and providing support to the market. Safety appears to lie in large-cap stocks, as emphasized by VLA Ambala.

This Weekly low is very crucial for the coming weeks. Hence watch it closely. NIFTY could see major support at 19750/19680/19610 and resistance at -19900/19980/20045. However, Bank Nifty major support for today should be at 44410/44240/44100. Major resistance will be 44730/44800/44950/45100, she remarked further on key levels for Nifty and Bank Nifty for today.

Day trading stocks for today

On intraday and swing stocks for today, stock market experts - VLA Ambala (SEBI Registered Research Analyst)- recommended 5 stocks to buy today for intraday and swing trading.

Garden Reach Shipbuilders & Engineers

GRSE looks good to buy above 805 to 810 (range) and has a target expectation of 850 to 1000 with a stop loss of 760.

Jyothy Labs

JYOTHYLAB looking good to buy in the 365 to 370 range and have a target expectation of 390 to 435 with a stop loss of 345.

Zee Entertainment Enterprises

ZEEL looks good buy in the 260 range and has a target expectation of 265 to 290 with stop loss at 250.

UltraTech Cement

Buy ULTRACEMCO at 8345 and hold it for 8500 to 8800 in a very short term. Keep stop loss in consideration with a stop loss of 8000.

REC

Buy RECLTD near the 290 range and hold it for a target ranging from 305 to 350 in the mid-term. Keep its stop loss at 265.

"All of the recommendations are being provided here based on the price overall movement, previous behaviour and technical analysis"- said VLA Ambala (SEBI Regd. RA).

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.