Stocks To Buy On Budget 2024: VLA Ambala Is Bullish On 2 Stocks; Here’s Why

During Monday's session, Nifty began the week with a gap-down opening. The index closed above its intraday opening but remained below the previous day's closing range, forming a Doji candlestick pattern on the daily chart. However, both Nifty and Bank Nifty displayed neutral momentum, whereas the Midcap Index gained 1.24% and the Nifty Mid Select Index rose 2%, driven by gains in stocks. The India VIX rose 4.51%, closing at 15.50 to reflect the increased market volatility. Despite the inflation concerns and increased market volatility, a dip-buying strategy could be ideal to make the most of the market's bullish run. However, the Union Budget is scheduled for 23 July, which is expected to trigger volatility for the next 2-3 days.

Market View for 23 July 2024, Tuesday

For the Nifty index, the key support levels for the next trading session will be between 24,250 and 24,200, whereas resistance will likely be between 24,580 and 24,700. On the other hand, the Bank Nifty Index could find key support between 52,200 to 52,030 levels, and witness 52,450 to 52,800, acting as their major resistance points.

Stocks To Buy On Budget 2024

V.L.A. Ambala, a Research Analyst (SEBI Registered), Co-founder - Stock Market Today (SMT) has recommended 2 stocks to buy or sell today.

YESBANK

• Buy: Rs. 24.2
• Target: Rs. 25.4/27/30/32
• Stop Loss: Rs. 23
• Holding Period: 1-30 Days

ADFFOODS

• Buy: Rs. 200-210
• Target: Rs. 235/250/265/280
• Stop Loss: Rs. 175
• Holding Period: 2-10 Days

Note: V.L.A. Ambala emphasizes that these recommendations are based on price movement, past behaviour, 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.