Day Trading Stocks: From Zomato To Adani Green Best Intraday Stocks List For Today

After a highly volatile session, the Indian stock market ended on a red note on Thursday. While the BSE Sensex fell 255 points and ended at 64,831 levels, the NSE Nifty ended 93 points lower at 19,253 and halted its three-day winning run. At 9.00 a.m. on Friday, Gift Nifty, previously SGX Nifty, was trading at 19385, down 44 points or 0.23%. The index began trading at 19,429 and ranged from an intraday high of 19,423.50 to a low of 19,381.5, indicating that the Indian market may begin flat on Friday ahead of US job data.

Market Outlook Today

Rupak De, Senior Technical analyst at LKP Securities believes that the Nifty faced persistent resistance at the 21-day Exponential Moving Average (21EMA), which resulted in a market correction. Two consecutive unsuccessful attempts to surpass the critical 21EMA level led to an increase in selling pressure. The overall sentiment remains pessimistic, with the likelihood of any upward rallies being met with selling activity. On the downside, the initial support level is placed at 19,200. If the index falls below the 19,200 level, it could potentially move towards the 19,000 mark. The sell on rise strategy is expected to favour the traders until the Nifty convincingly surpasses the 19,500 level.

Kunal Shah, Senior Technical & Derivative analyst at LKP Securities believes that during the last day of August expiry, the BankNifty index faced persistent selling pressure from the bears, ultimately leading to a negative close of 0.35% for the day. The upcoming sessions are crucial for the bulls as they aim to defend the critical support zone of 44000-43800. Failure to hold this support level could trigger additional declines, potentially pushing the index towards the 43000 mark. On the upside, the immediate obstacle for the index lies at 44200. If the index manages to breach this level, it could set the stage for further upward movement towards the 44500 level.

Best intraday stocks to buy today India

Here are the best intraday stocks to buy today, as advised by AR Ramachandran from Tips2Trades.

Zomato

Zomato is bullish but also overbought on the Daily charts with the next resistance at 108.65. Investors should book profits at current levels as a daily close below support of 96 could lead to a target of 87 in the near term.

RVNL

RVNL stock price is slightly bullish with strong resistance at 132 on the Daily charts. A daily close above 132 could lead to a target of 144 in the near term. Support will be at 127.

Adani Green

Adani Green stock price is bearish on the Daily charts with strong resistance at 970. A daily close below support of 938 could lead to a target of 904 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.