Intraday Trading: Top Stocks Today - 01 October, 2024
Explore today's hottest stocks with our Free Trading Signals! Discover top buying and shorting opportunities based on in-depth technical analysis. Stay ahead with our expert insights.Here we present best intraday stocks to buy on 01 October, 2024!
Today's Market Performance
The domestic equity market commenced the current session on a positive note with pre-open gains in key indices. However, persistent selling pressure across sectors pulled the benchmark indices lower as the session progressed. Despite initial optimism, the market failed to sustain its upward momentum and closed the day in the red.
The broader Nifty50 index settled with a loss of approximately 0.5%, declining by roughly 100 points from its previous closing level. The benchmark S&P BSE Sensex witnessed a similar fate, losing around 0.4% to end the day in negative territory.
Sectoral Performance
Sectorally, the market experienced mixed fortunes. Banks, IT, and metal stocks witnessed significant selling pressure, dragging the indices lower. On the other hand, defensive sectors such as pharmaceuticals and FMCG managed to provide some support, limiting the overall decline.
Key Drivers
The market's lackluster performance can be attributed to multiple factors, including concerns over the rising number of COVID-19 cases globally, ongoing tensions between Russia and Ukraine, and persistent inflationary pressures. These factors have led to uncertainty among investors, who remain cautious and hesitant to make significant investments.
Outlook for the Next Session
Looking ahead to the next trading session, the market's trajectory will likely be influenced by a combination of domestic and global cues. Key events to watch include the release of economic data such as GDP growth figures and the Reserve Bank of India's Monetary Policy Committee meeting. Additionally, any developments in the ongoing geopolitical tensions will continue to impact market sentiment.
Top Stocks to Buy Today:
1) KSB
Buy KSB shares in intraday timeframe at CMP Rs. 901.85
2) ASAHIINDIA
Buy ASAHIINDIA shares in intraday timeframe at CMP Rs. 799.8
3) GOCOLORS
Buy GOCOLORS shares in intraday timeframe at CMP Rs. 1367.5
4) DEVYANI
Buy DEVYANI shares in intraday timeframe at CMP Rs. 197.18
Top Stocks to Short Today:
1) VIPIND
Sell VIPIND shares in intraday timeframe at CMP Rs. 539.4
2) NATIONALUM
Sell NATIONALUM shares in intraday timeframe at CMP Rs. 214.02
3) BIRLACORPN
Sell BIRLACORPN shares in intraday timeframe at CMP Rs. 1267.95
4) METROBRAND
Sell METROBRAND shares in intraday timeframe at CMP Rs. 1283.55
Disclaimer: Remember, the market is a living beast, and even the most informed predictions can be devoured by unforeseen events. While this analysis is based on a thorough rule-based research, the ultimate decision to buy or sell rests with you. Do your own due diligence, consider your risk tolerance, and craft a strategy that aligns with your financial goals. Stratzy provides insights, not guarantees, and cannot be held responsible for any gains or losses incurred in your trading activities. Invest wisely, trade responsibly, and may the market gods favor you!