Intraday Stocks To Buy Today, July 22: Top Picks By Sumeet Bagadia For Profitable Trading On Tuesday

Following global trends, the Indian stock market opened flat to positive. After a tumultuous start to the day on Monday, the Nifty saw range-bound consolidation throughout the day before closing at 25,091 on a positive note in the previous session. The Bank Nifty index began the day gapping upward, held steady, and ended the day at 56,953. Strengthened by significant buying demand in banking giants like ICICI Bank and HDFC Bank, the Sensex jumped more than 400 points, while the Nifty recovered the key 25,000 level. Meanwhile, the volatility index, India VIX, dropped by 1.66% to 11.20, indicating a cool-off in market volatility.

Nifty Outlook Today

"On the daily chart, Nifty formed a bullish candlestick with a long lower shadow, reflecting strong buying interest at lower levels near the 24,900-support zone. Monday's session saw demand picking up around this key support area. Index to extend the pullback and head towards the 25,200-25,250 zone in the coming sessions - a region marked by the confluence of the 20-day EMA and the previous week's high. However, a decisive breakout above 25,250 would be required to signal a potential end to the recent corrective phase and could unlock further upside towards the 25,500-25,600 levels in the near term. On the downside, a breakdown below 24,900 would indicate continued weakness and may lead to an extended correction towards the 24,600 mark," commented the research analysts of Bajaj Broking.

Bank Nifty Outlook Today

"Bank Nifty formed a strong bullish candle on the daily chart, marked by a higher high and higher low, indicating renewed buying interest following the recent two-session pullback - primarily driven by strength in large-cap private sector banks. The index also managed to close above the 20-day EMA, re-entering the zone of its recent consolidation range. Going forward, the index is poised to extend its upward move towards the 57,250 level, which coincides with the trendline resistance drawn from recent swing highs. A decisive breakout above this level would open the door for a further rally towards the 58,000 mark. On the downside, immediate support is seen in the 56,000-55,700 zone - a crucial area marked by the confluence of the 50-day EMA and key Fibonacci retracement levels from the prior uptrend," stated the research analysts of Bajaj Broking.

Stocks To Buy Today

Choice Broking's executive director, Sumeet Bagadia, suggested purchasing two stocks on Tuesday, July 22, following the Nifty's psychological retake of the 25,000 level.

India Pesticides

Buy IPL in Cash @ Rs 225.42, Stop-loss @ Rs 218, Target @ Rs 240

IPL, is currently trading at 225.42, delivered an impressive performance in today's session. The recent price action reflects a clear breakout continuation pattern from a well-formed consolidation base. With today's close, the stock has sustained above its crucial 20-day and 50-day EMAs, indicating momentum is likely to persist in the near term. IPL has been in a recovery phase since forming a base around 130-145 in late April 2025.

The stock has formed higher highs and higher lows on the daily chart since then, marking a strong bullish structure. The current move above ₹220 resistance suggests potential for further upside. 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 222. On the downside, immediate support is located at 220. The Relative Strength Index (RSI) is currently at 65.03 and trending upward, reflecting growing buying momentum. To manage risk effectively, a stop-loss at 218 is suggested to guard against any unexpected market reversals.

In conclusion, based on the technical analysis and current market conditions, IPL presents a promising buying opportunity for those aiming for a 240 target, provided that appropriate risk management strategies are in place.

Sundaram Finance Holdings

Buy SUNDARMHLD in Cash @ Rs 526, Stop-loss @ RS 508, Target @ Rs 565

SUNDARMHLD, is currently trading at 526 has shown a reaffirming strong bullish sentiment. Recent price action indicates the stock gradually moved higher, forming higher highs and higher lows-a classic sign of a bullish reversal. The bullish alignment of EMAs confirms that the broader trend remains firmly positive, with the 20-day EMA now acting as immediate dynamic support.

Additionally, the breakout candle is supported by strong price action, closing near day's high, which typically implies follow-through buying may occur in coming sessions. This technical alignment suggests the potential beginning of a medium- to long-term uptrend. If this trend continues, SUNDARMHLD could reach a short-term target of 565.

On the downside, immediate support is located at 515. The Relative Strength Index (RSI) is currently at 67.03 and trending upward, reflecting growing buying momentum. To manage risk effectively, a stop-loss at 508 is suggested to guard against any unexpected market reversals.

In conclusion, based on the technical analysis and current market conditions, SUNDARMHLD presents a promising buying opportunity for those aiming for a 565 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.