Guide to Swing Trading: 3 Stock Selections By VLA Ambala on April 25, Thursday

Nifty has been showing resilience after a 4.5% decline from its record high; its immediate support is the 22150 level. A ‘High Wave Candlestick’ pattern on the daily timeframe was produced by the benchmark index during the Wednesday trading session, indicating a lack of confidence in the market.

An analysis of the stock market
“Based on the present momentum, I think the price trajectory may stay positive for a few weeks after the re-breakout of the 22500 zone. Notably, pessimistic emotions may be expressed in response to any possible decline below the 22350 barrier. However, given the current circumstances, there is more purchasing activity in response to these declines. As we approach the quarterly results release season, the market activity now seems to be increasingly concentrated on particular equities. Strong balance sheets and increased capital expenditure towards key sectors like manufacturing, BFSI, and infrastructure should support the steady growth of corporate earnings, even though it is expected to slow down from previous years “said V.L.A. Ambala, a research analyst (SEBI Registered) and co-founder of Stock Market Today (SMT).

Market Technical Analysis
“Nifty finished the day around its 20- and 50-day Exponential Moving Averages (EMAs), indicating that investors were feeling bullish about the short term. Relative Strength Index (RSI) for the index was also 54 on a daily basis and 64 on a weekly basis. A development of this kind suggests that dip buyers may have chances during bullish trends or periods of good momentum. Notably, we might see a new all-time high in 20–40 days if the market is able to hold above the 22500 level this month, VLA Ambala said.

Market Prognosis
“The Nifty index’s major support and resistance levels for today’s trading session are expected to be between 22450 and 22530, and between 22370 and 22300, respectively. However, the expert said that the Banking Index may encounter significant resistance around 48250 and 48450 and find important support at 48150 and 48020.

Stocks to Purchase Right Now
Based on swing trading principles, V.L.A. Ambala, a Research Analyst (SEBI Registered) and Co-Founder of Stock Market Today (SMT), has suggested three equities for purchase or sale on Thursday, April 25.

Trade Title: Swing Type: Purchase Entry Price Range: Rs. 93 – 96 GEOJITFSL
Goals 1 through 3: Rs. 100, Rs. 105, and Rs. 110; Time Period: 15 to 30 Days
END LOSS: INR 85
Trade title for Shammetl: Swing Trade type: Purchase Entry price range: Rs. 650-660
Goals 1 through 3: Rs. 690, Rs. 720, and Rs. 740; Time Period: 30 to 45 Days
END OF LOSS: INR 609
BEPL

Title of Trade: Swing Type of Trade: Purchase Entry Price Range: Rs. 99 – 101
Goal 1: 110 Rupees; Goal 2: 120 Rupees; Goal 3: 135 Rupees; Time Period: 15–180 Days
END OF LOSS: INR 609

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