Stocks To Buy: 2 Technical Trade Calls By VLA Ambala On Thursday, 28th Dec

The Indian Stock Market witnessed another remarkable day as both the Sensex and Nifty reached record highs in the December 2023 monthly series. The Sensex crossed the 72,000 mark for the first time, and the Nifty surpassed 21,650, experiencing a breakout in the final 30 minutes of the trading session.

VLA Ambala, a SEBI Registered Analyst, emphasized the bullish technical indicators, price indications, and sentiment in the market, expressing optimism for a continued upward trend. The advice given has consistently been to view dips as discounted opportunities", she has suggested further about the bullish trend.

VLA Ambala also highlighted the significant global support originating from the U.S. market, where the S&P 500 is nearing an all-time high. Global optimism resonated in Asian markets, remaining buoyant with the positive momentum from Wall Street. On the BSE, a total of 3,914 stocks were traded, with 1,993 advancing, 1,813 declining, and 108 remaining unchanged. Notably, 361 stocks reached their 52-week high, while 18 touched their 52-week low.

In today's projections, key support levels for Nifty are foreseen at 21640 and 21550, while major resistance points are identified at 21750 and 21800. To capitalize on this movement, it is recommended to stay invested in robust stocks, utilizing trailing techniques to secure maximum gains in highly surged stocks. Nifty has reclaimed its 21500 range and it's going to be major support this next and Q4 for this Financial year according to V.L.A. Ambala, a SEBI Registered Research Analyst and Co-Founder of Stock Market Today (SMT).

The banking sector has exhibited superior performance compared to the benchmark index, indicating potential for further upward momentum. In today's trading, significant support levels for Nifty Bank are predicted at 48200 and 48000, with notable resistance points at 48420 and 48700. V.L.A. Ambala, a SEBI Registered Research Analyst and Co-Founder of Stock Market Today (SMT) emphasized the ongoing potential for banking stocks to experience upward movement.

Stocks To Buy Today

VLA Ambala has provided intraday and swing trading advice for 2 stocks within her role as a SEBI Registered Research Analyst on Thursday, 28th December.

Gujarat Gas

Buy above 450 and the target could be expected in the range of 465 to 550, setting a stop loss at 430.

IDFC

Trading nearly at 125 and looking suitable for buying now and holding for a mid-term target ranging from 129 to 150, with a stop loss at 119.

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.