Intraday Stocks To Buy Today, 10th July: Top Picks By Sumeet Bagadia For Profitable Trading On Thursday

The previous session saw the Sensex close 0.21% lower at 83,536.08 and the Nifty close slightly lower at 25,476 (-0.2%). Negative news about Reliance's Jio Platform IPO caused the market to experience strong selling pressure during the beginning of the first quarter results season and advancements on the US tariff front. With a 2.09% decrease, the India VIX closed at 11.94, well below its psychological barrier of 15. The market's sustained low volatility suggests that there is less worry, which usually favors a slow and steady rising over abrupt directional movements.

Nifty Outlook Today

"Nifty index awaits a decisive trigger, as sellers have once again established their presence near the 25,500 mark, forming a tweezer top on the daily timeframe. A strong breakout above this pattern - particularly beyond 25,550 on an intraday basis - may fuel aggressive short-covering and unlock the next leg of the rally toward 26,000. Support from the 10-day EMA continues to act as a foundation for the ongoing uptrend. As long as the index sustains above the 25,400 support zone, the "buy on dips" strategy remains the favoured approach," said Dhupesh Dhameja, Derivatives Research Analyst, SAMCO Securities.

"A convincing intraday move above 25,550 will act as a key catalyst for further gains. The broader structure remains neutral to bullish, with RSI holding above the 60 mark, reflecting underlying strength in momentum. Maintaining the level above 25,400 will be crucial for preserving the current positive sentiment and extending the rally in the sessions ahead," he further added.

Bank Nifty Outlook Today

"Nifty Bank index is at a crucial juncture, with both buyers and sellers actively defending their levels. The formation of a Doji candle within the prior range highlights indecision, but also sets the stage for a breakout. A strong close above 57,350 could unlock aggressive buying, triggering short-covering and pushing the index toward 57,800. Support from the 10- & 20-day EMAs continues to provide a cushion for the bulls, affirming the strength of the ongoing uptrend," commented Dhupesh Dhameja, Derivatives Research Analyst, SAMCO Securities.

"As long as the index holds above 56,800, the "buy on dips" strategy remains favourable. A decisive breakout above 57,350 could act as a powerful trigger, propelling the index toward higher levels. Momentum indicators, particularly the RSI staying above 60, reflect ongoing strength and underlying bullish momentum. Holding above 56,800 will be key to sustaining the current trajectory and expanding gains in the upcoming sessions," the analyst further added.

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Stocks To Buy Today

On Thursday, July 10, Choice Broking executive director Sumeet Bagadia suggested buying two stocks in light of the developments of the India-US trade agreement and the beginning of the Q1 earnings season.

Syrma SGS Technology

Buy SYRMA in Cash @ Rs 650.15, Stop-loss @ Rs 625, Target @ Rs 695

SYRMA, is currently trading at 650.15, delivered an impressive performance in today's session. This rally marks a decisive breakout above the previous resistance zone, with a sharp bullish candle and strong volume backing the move. The stock has convincingly broken out of the tight consolidation range around ₹600.

This is the stock's fifth consecutive green candle, with increasing body size and closing strength. This indicates momentum is strengthening, and short-term trend followers may enter the stock. The price action shows a textbook breakout from a sideways consolidation range to a bullish continuation pattern

One can look for entries on minor dips towards 645. On the downside, immediate support is located at 630. The Relative Strength Index (RSI) is currently at 80.03 and trending upward, reflecting growing buying momentum. To manage risk effectively, a stop-loss at 625 is suggested to guard against any unexpected market reversals.

In conclusion, based on the technical analysis and current market conditions, SYRMA presents a promising buying opportunity for those aiming for a 695 target, provided that appropriate risk management strategies are in place.

PCBL Chemical

Buy PCBL in Cash @423.7 SL @ 410 TGT @ 450

PCBL, is currently trading at 423.7, showcased an impressive up move in today's trading session, this bullish price action is supported by a substantial increase in volume indicating strong institutional and retail interest. The stock had been consolidating in the ₹390-₹415 zone for several sessions.

Today's breakout above this resistance range, with a wide bullish candle, signals the start of a new upward leg. The short-term EMAs are starting to turn upward, and the stock is now well above all of them, indicating momentum is building in the short to medium term. If the current momentum sustains, the next immediate resistance is seen near 444-450 zone

On the downside, immediate support is located at 418. can be viewed as a buying opportunity, with ₹410 acting as a strong positional stop loss. The Relative Strength Index (RSI) is currently at 61.03 and trending upward, reflecting growing buying momentum.

In conclusion, based on the technical analysis and current market conditions, PCBL presents a promising buying opportunity for those aiming for a 450 target, provided that appropriate risk management strategies are in place.

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.