Swing Trading Guide: 2 Buy/Sell Recommendations By VLA Ambala On Friday, 24th May

Following a small correction, Nifty rallied nearly 1.5% during the session, marking a fresh record-high in intraday. During the last session, the market missed the 23000 mark by just 3 points. On the other hand, Bank Nifty surged 2% during the session. These developments shaped the day as a historic one, where Indian markets touched new highs in the Nifty, Midcap Index, and SENSEX. Along with this Bank interest rates rate, gold & silver, and crude oil have been trading very close to their recent highs.

"In my experience, this is a rare market scenario and I advise investors to stay invested if they wish to make the most of this phase. However, I would advise them to hedge and diversify their positions as we could soon witness another upside momentum, evidenced by the shift in Nifty's key support to 22500 for the short term. The market looks optimistic and this rally is likely to be fueled by midcap and small-cap stocks. To make the most of this uptrend, individuals must pick their next stocks wisely," said V.L.A. Ambala, a Research Analyst (SEBI Registered), Co-founder - Stock Market Today (SMT).

Market Outlook Today

"For the Nifty index, the key support levels for the next trading session will be around 22850 and 22770, whereas resistance will likely be noticed between 23340 and 23150. On the other hand, the Banking Index could find key support at 48750 and 48600, and witness 48840 and 49200, acting as their major resistance points," VLA Ambala predicted.

Stocks To Buy Today

V.L.A. Ambala has recommended 2 stocks to buy or sell on Friday, 24th May.

GANECOS

• TRADE TITLE: INTRADAY
• TRADE TYPE: BUY
• ENTRY PRICE RANGE: Rs. 1120 - 1135
• TARGET 1: Rs. 1150
• TARGET 2: Rs. 1170
• TARGET 2: Rs. 1170
• TIME PERIOD: INTRADAY
• STOP LOSS: Rs. 1090

SUZLON

• TRADE TITLE: INTRADAY
• TRADE TYPE: BUY
• ENTRY PRICE RANGE: Rs. 47-48
• TARGET 1: Rs. 50
• TARGET 2: Rs. 52
• TIME PERIOD: INTRADAY
• STOP LOSS: Rs. 45

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.