Stocks To Buy Today: Intraday BUY/SELL Calls By Sumeet Bagadia On Thursday, 19th December

On Wednesday, the Nifty started the day down, was under pressure all day, and ended the day lower at 24,199 levels, while the Bank Nifty also started the day lower, stayed under pressure all day, and ended the day worse at 52,140 levels. The India VIX, a measure of market volatility, fell slightly by 0.78% to 14.37, indicating that traders are becoming more cautious. Although there is cautious optimism despite the decrease, the VIX is still below the crucial 15-level, suggesting that there is little chance of prolonged positive momentum.

Nifty Outlook Today

"Nifty index remains in oversold territory after consecutive sessions of intense selling pressure. Trading below the key 24,500 support and 10- & 20-day DEMAs, the index reflects subdued buying interest. With prices now near the 24,150-24,180 support zone, holding these levels is crucial for any meaningful recovery. Aggressive call writing at 24,500 reinforces it as a major resistance, while oversold indicators like the PCR and RSI hint at a possible short-term bounce. For any significant upside, the index must sustain above 24,500, which could trigger short-covering rallies toward the psychological 25,000 level. Until a decisive breakout above resistance occurs, a "sell on rise" approach remains prudent. On the downside, a breach below 24,150 could open the door to further declines, with 24,000 serving as a critical support zone backed by strong put writing," said Mr. Dhupesh Dhameja, Derivatives Analyst, SAMCO Securities.

Bank Nifty Outlook Today

"Nifty Bank index appears firmly in a bearish and oversold territory after breaking its crucial immediate support at 52,600. This breakdown has reinforced sellers' dominance, with the index hovering near the key psychological level of 52,000. Holding this support is essential for any meaningful recovery. Heavy call writing at 52,500, coinciding with the 20-day EMA, suggests robust resistance, while the RSI's decline below 50 points to fading bullish momentum. Options activity underscores this outlook, with aggressive call writing at 52,500 strengthening resistances. While the oversold PCR hints at a possible pullback, a sustained move above 52,500 is required to trigger short-covering rallies toward the 53,000 mark. On the downside, a breach of 52,000 could open doors to further declines, targeting 51,600-51,500. Until the index reclaims key resistance levels, a "sell on rise" strategy remains prudent," Dhupesh Dhameja added.

Stocks To Buy Today

On Thursday, December 19, Choice Broking's executive director Sumeet Bagadia suggested buying two stocks after the Nifty fell below the crucial 24,500 support and the 10- and 20-day DEMAs, indicating a lack of bullish activity.

Lloyds Metals And Energy

Buy LLOYDSME in cash @ Rs 1178.35, Stop-loss: Rs 1135, Target: Rs 1250

LLOYDSME showcases a strong bullish momentum, evident from a substantial upward movement and a significant closing around Rs 1178.35. The stock has been experiencing robust buying interest, leading to consecutive gains and an attempt to consolidate after the recent surge and a significant breakout in the current month, accompanied by a surge in trading activity.

Key technical indicators, particularly the Relative Strength Index (RSI), emphasize the stock's positive momentum. The RSI not only signals positive trends but also aligns with the stock trading above crucial moving averages, including the 20-day, 50-day, and 200-day Exponential Moving Averages (EMA). This convergence underscores the sustained strength in LLOYDSME price action.

The surge in volume associated with this upward price action also indicates strong interest and a potential continuation of the rally if the momentum sustains a bullish outlook for LLOYDSME Industries. Traders and investors may find this analysis indicative of potential continued upward momentum in the stock.

Based on the above analysis we recommend buying LLOYDSME in cash at CMP of 1178.35 for the target of 1250 with a stop loss of 1135.

V Guard Industries

Buy VGUARD in Cash @ Rs 442.55, Stop-loss @ Rs 427, Target @ Rs 474

VGUARD is currently trading at Rs 442.55 and is on the verge of breaking out from a consolidation range on the daily chart. This potential breakout is supported by a sustained increase in trading volumes, which strengthens the bullish outlook for the stock. If VGUARD manages to hold above the key resistance level of Rs 450, it could witness a significant upward movement, with a potential target of Rs 574.

The Relative Strength Index (RSI) currently stands at 57.65 and is trending upward, indicating increasing buying momentum. Additionally, the stock is trading above its key moving averages, including the short-term 20-day EMA, medium-term 50-day EMA, and long-term 200-day EMA, further reinforcing the ongoing bullish trend.

Given the favorable technical setup and the positive signals from key indicators such as RSI and moving averages, VGUARD presents a strong buying opportunity. Entering the stock at the current market price of Rs 442.55, with a stop loss at Rs 427 and a target of Rs 474, offers a compelling strategy to capitalize on its bullish momentum.

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.