Intraday Trading: Top Stocks Today - 03 April, 2024

In the preceding session, the market opened cautiously, with the Nifty oscillating within a narrow 22390-22500 range throughout. At the close, the Nifty witnessed a modest decline of 0.04 percent.

However, the Nifty Midcap 100 index shined in contrast, posting a commendable 1.16 percent gain. Within the sectoral landscape, Media and Consumer Durables emerged victorious, exhibiting notable strength. Conversely, IT and Financial Services sectors encountered headwinds, lagging behind the overall market's performance.

An analysis of the options market reveals a dominant call side open interest at the 23000 level, while the put side is concentrated at 22000. Notably, the current option chain suggests a higher volume of call writing against put writing, indicating a bearish sentiment in the market.

For today's session, the Volume Weighted Average Price (VWAP) predicts a potential trading range of 22370-22570. The Max Pain point is situated at 22400 spot, with a substantial CE/PE Combined Residual Premium/Pain Value of 530.11 Crores.

In the cash market, Foreign Institutional Investors (FIIs) emerged as net sellers, with an activity value of 1622.69 crore, while Domestic Institutional Investors (DIIs) acted as net buyers, contributing 1952.72 crore to the market.

Top Stocks to Buy Today:

1) ASHOKLEY

Buy ASHOKLEY shares in intraday timeframe at CMP Rs. 174.1

2) BHARATFORG

Buy BHARATFORG shares in intraday timeframe at CMP Rs. 1138.6

3) MAPMYINDIA

Buy MAPMYINDIA shares in intraday timeframe at CMP Rs. 1916

4) IDEA

Buy IDEA shares in intraday timeframe at CMP Rs. 13.4

Top Stocks to Short Today:

1) JUBLFOOD

Sell JUBLFOOD shares in intraday timeframe at CMP Rs. 457.3

2) JSWENERGY

Sell JSWENERGY shares in intraday timeframe at CMP Rs. 552.2

3) SONACOMS

Sell SONACOMS shares in intraday timeframe at CMP Rs. 680

4) CONCORDBIO

Sell CONCORDBIO shares in intraday timeframe at CMP Rs. 1493.5

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!