Stocks To Buy Today: Intraday BUY/SELL Calls By Sumeet Bagadia On Thursday, 27th Feb

Ahead of the monthly expiry, the Nifty index began the previous session steadily and continued its drab trend. While Nifty Bank ultimately closed at 48,608.35, down 0.09% (-43.60 points), indicating a lacklustre sentiment, Nifty ended the session at 22,547.55, down 0.03% (-5.80 points) due to increased intraday swings and uncertainty from both bulls and bears. The market's fear gauge, the India VIX, decreased by 5.04% to 13.71, suggesting a minor moderating of risk sentiment.

Nifty Outlook Today

"Nifty continues to grapple with sustained selling pressure, displaying limited signs of a convincing recovery and encountering stiff resistance at every upward attempt. The 22,700-23,000 range remains a formidable supply zone, while RSI hovering below 40 signals a lack of interest for upward momentum. Additionally, with the index trading well below its short-term moving averages, a potential mean reversion toward these levels is plausible if it manages to sustain above its key support. The 22,500 level remains the last line of defence for bulls attempting a temporary bounce. However, unless Nifty decisively reclaims 23,000, any rally is likely to be short-lived due to persistent call writing and technical headwinds. Given the current market structure and prevailing uncertainties, a 'Sell on Rise' strategy appears most prudent. Immediate resistance stands at 22,700, while critical support lies at 22,500. A definitive breakout from this range will set the stage for the next directional move," as per Dhupesh Dhameja, Derivatives Analyst, SAMCO Securities.

Nifty Bank Outlook Today

"Nifty Bank remains caught in a cycle of persistent selling, exhibiting minimal signs of a robust recovery as stiff resistance thwarts every upward attempt. The 48,800-49,000 region continues to act as a strong supply zone, with the RSI dipping below 40, emphasizing the lack of bullish momentum. Additionally, the index remains firmly below its short-term moving averages, suggesting that any mean reversion rally will be contingent on holding above support levels. The 48,300 mark stands as the last line of defence for bulls attempting to stage a pullback. However, unless the index decisively conquers the 49,000 mark, any bounce is likely to fizzle out due to continued call writing and technical headwinds. Given the prevailing market structure and uncertainty, a 'Sell on Rise' strategy remains the most viable approach. Immediate resistance is positioned at 49,000, while crucial support is at 48,500. A firm breakout beyond this range will set the tone for the forthcoming sessions," commented Dhupesh Dhameja.

Stocks To Buy Today

Choice Broking's executive director, Sumeet Bagadia, advised purchasing two equities on Thursday, February 27th, amid the Nifty50's volatility ahead of its monthly expiry.

Avanti Feeds

Buy AVANTIFEED in cash @ 741.4 SL 715 TGT 790

AVANTIFEED showcases a strong bullish momentum, evident from a substantial upward movement and a significant closing around ₹741.4. The stock has been experiencing robust buying interest, the stock has shown consistent higher highs and higher lows, a classic pattern of a strong uptrend. Notably, the trading volume during upward price movements has been substantial, reinforcing the strength of the rally. The recent sessions have seen AVANTIFEED stabilizing near its 52-Week highs, indicating that the stock is consolidating and potentially preparing for another breakout.

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 AVANTIFEED price action.

The trend remains bullish, with this upward price action also indicates strong interest and a potential continuation of the rally if the momentum sustains a bullish outlook for AVANTIFEED. Traders and investors may find this analysis indicative of potential continued upward momentum in the stock.

Based on the above analysis we recommend buying AVANTIFEED in cash at CMP of 741.4 for the target of 790 with a stop loss of 715.

Manorama Industries

Buy MANORAMA in cash @ 1095.4 SL 1050 TGT 1212

MANORAMA showcases a strong bullish momentum, evident from a notable uptrend from the support levels around, in close proximity to its 50 Day Exponential Moving Average (EMA). substantial upward movement and a significant closing around ₹1095.4. The stock has been experiencing robust buying interest, leading to consecutive gains that could potentially lead to further upward movement after the recent surge, offering an optimistic outlook for investors

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 MANORAMA 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 MANORAMA 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 MANORAMA in cash at CMP of 1095.4 for the target of 1212 with a stop loss of 1050.

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.