Swing Trading Guide: On Friday, March 22, VLA Ambala Suggests Buying/Selling Three Stocks

Despite growing market anxiety, the benchmark index, Nifty, had a solid finish to the day on Thursday. The index created the ‘High Wave’ candlestick pattern during the daily period throughout the day, indicating a lack of direction in the market.

The Nifty ended the day’s trading session above the 2200 barrier, signifying a positive trend in the stock market. This encouraging trend might be linked to the purchasing activity that was seen throughout the session in all of the main industries. In fact, there were notable intraday advances in sectors including PSU, metal, and real estate, which all had increases above 2%. However, the India VIX fell to 12.50, suggesting a reduction in market volatility, according to V.L.A. Ambala, co-founder of Stock Market Today (SMT) and a research analyst (SEBI registered).

Market Outlook for March 22, 2024
The Nifty index’s major support and resistance levels for the next trading session are expected to be around 21970 and 21865, respectively, and 22080 and 22160, respectively. However, VLA Ambala said that the banking index may find significant support between 46620/46500 and 46300, with 46780 and 47030 serving as their main resistance levels.

Stocks to Purchase Right Now
Co-founder of Stock Market Today (SMT) and registered research analyst V.L.A. Ambala has suggested buying or selling the stocks below on Friday, March 22.

Trade title: refex; trade type: buy; entry price range, rupees 678–685.
The following are the targets: Rs. 700, Rs. 715, Rs. 750, Rs. 770, Rs. 800, and Rs. 880, and time period: 10–120 days.
END OF LOSS: INR 635
CDSL
Title of trade: Swing Trade Type: Purchase Entry Price Range: Rs. 1735–1750 Goals 1 through 3: Rs. 1810, Rs. 1845, Rs. 1890, Rs. 2000, and Rs. 2050
Time frame: 10 to 75 days
END LOSS: INR 1650
BSE
Trade Title: Swing Trade Type: Purchase 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
QUIT LOSS: INR 2,000
Note: V.L.A. Ambala stresses that technical analysis, historical performance, and price movement are the foundations of our suggestions.