Swing Trading Guide: 4 Buy/Sell Stock Recommendations By VLA Ambala On Monday, 27th May

The latest trading session turned out to be another record-breaking day in the Indian stock market. To elaborate, during the day, Nifty, Sensex, Midcap Index, Small-cap Index, and Nifty Next 50 hit their respective all-time highs. These developments paint the broader stock market as greedy, as buying conditions prevail even in this overbought situation.

"Amid these developments, a new rally is possible. Hence, I recommend staying invested in qualitative mid and large-cap stocks. However, when it comes to picking small-cap stocks, individuals should proceed with caution and pick stocks that display strong financials and enjoy some monopoly in the market. On the other hand, individuals may freely explore mid to long-cap stocks but if they plan to hold positions for only 1-2 months in this overbought market condition, these stocks could prove to be disappointing. Price corrects in accordance with how it has been delivered in the past, so individuals must weigh that in before planning their positions. Judging by the current market situation, any dip of up to 10% should not come as a surprise. Overall, the market trend appears bullish, and a "buy on dip" approach could be rewarding," V.L.A. Ambala, a Research Analyst (SEBI Registered), Co-founder - Stock Market Today (SMT) commented.

Market Outlook

"During the latest session, Nifty formed a 'Marubozu' candlestick pattern at the weekly timeframe, displaying strong buying pressure. With this development, the support for the index has shifted from 22200 to 22500. Meanwhile, Nifty's RSI readings were neutral, with the daily reading standing at 68, weekly at 67, and monthly at 70 on the timeframe. On 23rd May, both FII and DII investor categories were seen as net buyers. Keeping these in mind, we can expect selling pressure to build again in the week, if the price breaks down below the 22900 range again. However, if the price continues to trade above 23050, Nifty will continue to display bullish tendencies in the week," VLA Ambala added.

Nifty & Bank Nifty Prediction

"For the Nifty index, the key support levels for today's trading session will be around 22900 and 22800, whereas resistance will likely be noticed between 23050 and 23200. On the other hand, the Banking Index could find key support at 48800 and 48650, and witness 48950 and 49250, acting as their major resistance points," VLA Ambala stated.

Stocks To Buy Today

V.L.A. Ambala, a Research Analyst (SEBI Registered), Co-founder - Stock Market Today (SMT) has recommended 4 stocks to buy or sell on Monday, 27th May.

BANKBARODA

• TRADE TITLE: SWING
• TRADE TYPE: BUY
• ENTRY PRICE RANGE: Rs. 265-267
• TARGET 1: Rs. 272
• TARGET 2: Rs. 275
• STOP LOSS: Rs. 260

ABFRL

• TRADE TITLE: SWING
• TRADE TYPE: BUY
• ENTRY PRICE RANGE: Rs. 287-289
• TARGET 1: Rs. 295
• TARGET 2: Rs. Rs. 300
• TARGET 2: Rs. 305
• STOP LOSS: Rs. 264

DABUR

• TRADE TITLE: SWING
• TRADE TYPE: BUY
• ENTRY PRICE RANGE: Rs. 550- 560
• TARGET 1: Rs. 590
• TARGET 2: Rs. 605
• TARGET 2: Rs. 620
• STOP LOSS: Rs. 520

NAUKRI

• TRADE TITLE: INTRADAY
• TRADE TYPE: SELL
• ENTRY PRICE RANGE: Rs. 6360- 6370
• TARGET 1: Rs. 6250
• TARGET 2: Rs. 6200
• TARGET 2: Rs. 6150
• STOP LOSS: Rs. 6500

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.