Guide to Swing Trading: 3 Stock Selections By VLA Ambala on April 24, Wednesday

Nifty opened the day gap-up and hit the 22400 level once again in yesterday’s session, but it ended the day at 22368. The benchmark Nifty index moved sideways throughout the day, although it did not always show a distinct directional breakout.

In spite of this behavior, the benchmark index closed above the key moving average, indicating a bullish trend. In the midst of these events, Nifty created a “Bearish Belt Hold” candlestick pattern on the daily timeframe, which, according to V.L.A. Ambala, a research analyst (SEBI Registered) and co-founder of Stock Market Today (SMT), suggests a weakening of the bullish trend and a possible shift in the sentiment of the domestic market.

Notably, the Nifty Bank Index will expire during today’s trading session. Given the most recent closing level of 47970, a broad trading range is probably in store for the next session. However, a number of dividend announcements have coincided with the quarterly results season, and as a consequence, a number of companies have begun to outperform the benchmark index in the relevant categories. To prepare for their next trading or investing round, people need to be aware of these events, the expert said.

Today’s Market Outlook
“For the Nifty index, resistance is expected to be found between 22380 and 22420, while important support levels for the next trading session will be around 22300 22210 and 22150. However, the Banking Index may encounter significant resistance around 48050/48220/48500 and crucial support at 47770/47550/47300. The current state of affairs and the expected fluctuations in the Bank Nifty due to its imminent expiration may cause a substantial shift in the market’s momentum. To reduce risk and safeguard profits in this scenario, I advise traders to be vigilant and move quickly to adjust their trading tactics based on the mood of the market,” V.L.A. Ambala said.

Stocks to Purchase Right Now
Co-founder of Stock Market Today (SMT) and Research Analyst V.L.A. Ambala (SEBI Registered) has suggested three swing trading stocks to buy or sell on Wednesday, April 24.

Trade type for paras: purchase; entry price range: Rs. 737–742.
First target: Rs. 747; second target: Rs. 755; third target: Rs. 760
Objective 4: 765 Rupees Time Period: 1-3 Days Stop Loss: 730 Rupees
Trade type for Aarey Drugs: Purchase Entry price range: Rs. 48-48.70
GOALS 1: 50 Rupees; 2: 52 Rupees; 3: 53 Rupees
TIME PERIOD: 1–5 Days; TARGET 4: Rs. 55
END OF LOSS: INR 45.40
The lowest trade type is buy entry, with a price range of Rs. 142–144.
Target 1: 146 Rupees; Target 2: 147.40 Rupees; Target 3: 150 Time Time: 1 to 3 Days; Stop Loss: 140

Note: V.L.A. Ambala stresses that technical analysis, historical performance, and price movement are the foundations of our suggestions.