VLA Ambala Recommends 5 Swing Trading Stocks To Trade Today On Friday, 27th Oct

Nifty had witnessed significant selling of around 5% in just 6 trading sessions. On Thursday it ended its day just at its 200 Day EMA. It has already breached its 19000 psychological support range. Selling pressure may continue for a few more weeks.

Oct Monthly Expiry was a complete Sellers expiry. Finally, Nifty has closed the month below Jan-2023 closing. Worth understanding here that Nifty has breached its monthly trading range and is heading towards its Moving averages at a monthly time frame. The next stoppage is nearly 18050 to 17780. If Price fails to protect its 18500 level too. We must be ready to see more intense selling ahead, said VLA Ambala - SEBI Regd. RA and Co-founder of Stock Market Today.

Nifty50 Outlook for Today

On Thursday Nifty closed at nearly 18850 and today Intraday resistance levels are at 18950/19000/19045. These levels could be buying opportunities for those looking to sell on rise. Possible intraday support points for Nifty50 are at 18710/18650/18480. However, "Sell on Rise" is the most suggested strategy in a downtrend.

Bank Nifty Outlook for Today

Today's nearest support levels for Bank Nifty are at 42050/41650. On the other hand, considering its overall movement, major resistance levels for intraday trading are 42550/42820/43000.

Intraday & Swing Trading Stocks For Today

VLA Ambala, a SEBI Registered Research Analyst, has recommended five stocks for intraday and swing trading today:

Zee Entertainment Enterprises

Consider buying ZEEL above the range of 242 for a target range of 247 to 255, with a stop loss at 234.

Reliance Infrastructure

Consider buying RELINFRA-BE around 160, with a target range of 164 to 170 and a stop loss at 152. The price is trading near an important EMA, offering significant support.

Hemisphere Properties India

Buy HEMIPROP 132 and hold for a mid-term target ranging from 140 to 165, with a stop loss at 131.

Salasar Techno Engineering

Accumulate more SALASAR in the range of 47.50 and hold for a short-term target of 50 to 55 as it is trading near its breakout range, with a stop loss at 42.

Birlasoft

Accumulate more BSOFT in the range of 540 and hold for a short-term target of 553 to 562 as it is trading near its breakout range, with a stop loss at 507.

These recommendations are based on price movement, past behaviour, and technical analysis, as per VLA Ambala, a SEBI Registered Research Analyst.

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.