Day Trading Guide: Top Intraday Stocks To Buy/Sell Today

On Wednesday, the benchmark indices closed higher for the third consecutive session despite mixed global cues. The Nifty was up 4.80 points or 0.02 percent at 19,347.50 at closure, and the Sensex was up 11.43 points or 0.02 percent at 65,087.25. Tata Steel, Maruti Suzuki, M&M, Eicher Motors, and Infosys were among the top gainers on the Nifty, while Power Grid Corporation, SBI, BPCL, Dr. Reddy's Laboratories, and Hero MotoCorp were the top losers. Real estate index gained 1%, while auto, FMCG, information technology, and metal all climbed by 5% while Power, oil, and gas, and banks, on the other hand, each had a 0.5% drop on the sectoral pack. The BSE smallcap and midcap indices both climbed by 0.5 to 0.8 percent.

Nifty Prediction

Commenting on Nifty outlook today, Kunal Shah, Senior Technical & Derivative analyst at LKP Securities said "The Nifty index encountered a robust resurgence of bearish momentum, leading to considerable selling pressure at elevated levels. Amidst this downturn, the addition of substantial open interest in the 19500CE options signifies that the index is poised to expire below the 19500 mark.In terms of technical levels, the index's immediate support on the downside is evident in the range of 19300-19250. A failure to sustain above this level could potentially trigger a continuation of the downward movement."

Bank Nifty Prediction

Commenting on Bank Nifty outlook today, Kunal Shah said, "The Bank Nifty index experienced a significant bearish takeover, leading to a rapid correction of 600 points from the day's high. As the index navigates this downward movement, its next significant support on the downside is positioned at 44000. This level is crucial, given the substantial open interest built up on the put side.The overall market sentiment remains bearish, with considerable resistance anticipated around the range of 44500 to 44700 levels."

Top Intraday Stocks To Buy Today

As recommended by AR Ramachandran from Tips2Trades, here are the top intraday stocks to buy today.

Railtel Corp

Railtel Corp looks bearish and has strong resistance at 206.45 on the Daily charts. A daily close below support of 190 could lead to a target of 164 in the near term.

JTL industries

JTL industries is sideways on the Daily charts with strong resistance at 407. A daily close above this resistance could lead to a target of 424 in the near term. Support will be at 389.

KPIT Technologies

KPIT Technologies is sideways to bearish on the Daily charts with a strong resistance zone at 1160-1200. A daily close below support of 1094 could lead to a target of 992 in the near term.

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.