Swing Trading Guide: 2 Buy/Sell Stock Recommendations By VLA Ambala On Wednesday, 10th July

During Tuesday's session, Nifty 50 touched a new all-time high and closed the day at 24443.60 on a bullish note, forming a Bullish Marubozu candlestick pattern on a daily timeframe, breaking out of its 4-day trading range. This indicates strong market sentiment and suggests that Nifty could open with a gap-up in the next session. If it opens around 24520, the level could act as a resistance point in the morning, said V.L.A. Ambala, a Research Analyst (SEBI Registered), Co-founder - Stock Market Today (SMT).

"The volatility indicator, India VIX, rose 5% intraday and closed above 14.20, showing increased market volatility. Meanwhile, Option Chain data indicates an increase in the primary support level from 24200 to 24300, while resistance remains at 24500. The major leading sectors of the latest session were Auto, Pharma, PSU Banks, and Realty. Meanwhile, the PM's visit to Russia is expected to boost positive sentiment in the oil and defense sectors," she further added.

Market View for 10 July 2024, Wednesday

"For the Nifty index, the key support levels for the next trading session will be between 24400 and 24300, whereas resistance will likely be noticed between 24500 and 24570. On the other hand, the Bank Nifty Index could find key support between 52450, 52300, or 52130, and witness 52650 and 53000, acting as their major resistance points," VLA Ambala commented.

Stocks to Checkout on 10 July 2024, Wednesday

DEEPENR

• CMP: Rs. 183
• Buy: Rs. 170-176
• Target: Rs. 190-220
• Stop Loss: Rs. 165
• Holding Period: 1 - 10 days

ANDHRSUGAR

• CMP: Rs. 122
• Buy: Rs. 120-123
• Target: Rs. 126-150
• Stop Loss: Rs. 109
• Holding Period: 1-20 Days

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.