Swing Trading Guide: VLA Ambala Recommends 3 Stocks To Buy/Sell On Friday, 22nd March

The benchmark index, Nifty, concluded the day on Thursday on a positive note despite the rising sentiment of uncertainty in the market. During the day, the index formed the 'High Wave' candlestick pattern at the daily timeframe, suggesting a mood of indecision in the market.

The day witnessed the Nifty close the trading session above the 2200 mark, indicating an upward momentum in the stock market. This positive development can be attributed to the buying activities recorded across all major sectors during the session. In fact, sectors like PSU, metal, and realty surged more than 2% in intraday, displaying significant gains. On the other hand, the India VIX plunged to 12.50, indicating a decrease in volatility in our stock market, said V.L.A. Ambala, a Research Analyst (SEBI Registered), Co-founder - Stock Market Today (SMT).

Market View for 22nd March 2024

For the Nifty index, the key support levels for the next trading session will be around 21970 and 21865, whereas resistance is likely to be noticed at 22080 and 22160. On the other hand, the banking index could find key support at 46620/46500 and 46300, with 46780 and 47030 acting as their major resistance points, further added VLA Ambala.

Stocks To Buy Today

V.L.A. Ambala, a Research Analyst (SEBI Registered), Co-founder - Stock Market Today (SMT) has recommended the below stocks to buy or sell on Friday, 22nd March.

REFEX

• TRADE TITLE: SWING
• TRADE TYPE: BUY
• ENTRY PRICE RANGE: Rs. 678 - 685
• TARGET 1: Rs. 700
• TARGET 2: Rs. 715
• TARGET 3: Rs. 750
• TARGET 4: Rs. 770
• TARGET 5: Rs. 800
• TARGET 6: Rs. 880
• TIME PERIOD: 10-120 Days
• STOP LOSS: Rs. 635

CDSL

• TRADE TITLE: SWING
• TRADE TYPE: BUY
• ENTRY PRICE RANGE: Rs. 1735 - 1750
• TARGET 1: Rs. 1810
• TARGET 2: Rs. 1845
• TARGET 3: Rs. 1890
• TARGET 3: Rs. 2000
• TARGET 3: Rs. 2050
• TIME PERIOD: 10-75 Days
• STOP LOSS: Rs. 1650

BSE

• TRADE TITLE: SWING
• TRADE TYPE: BUY
• ENTRY PRICE RANGE: Rs. 2210 - 2240
• TARGET 1: Rs. 2350
• TARGET 2: Rs. 2400
• TARGET 3: Rs. 2450
• TARGET 4: Rs. 2500
• TARGET 5: Rs. 2600
• TARGET 6: Rs. 2750
• TARGET 7: Rs. 2810
• TIME PERIOD: 10-120 Days
• STOP LOSS: Rs. 2000

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.