Top Intraday Stocks Today - 04 April, 2024

The previous session witnessed a downturn in the market, with the Nifty index ending below the 22,450 mark. This decline was primarily attributed to a combination of factors, including strong economic data from the United States and a surge in oil prices to their highest levels in recent months. These developments have prompted market participants to reassess their expectations for the Federal Reserve's monetary policy actions this year, with the possibility of fewer interest rate cuts now being considered.

While the overall market sentiment remained bearish, certain sectors exhibited resilience. The PSU Bank index emerged as a notable performer, closing with a significant gain of 1.78%. The IT index also fared well, posting a modest increase of 0.73%. In the broader market, the S&P BSE Mid-Cap and Small-Cap indices exhibited strength, closing with gains of 0.61% and 1.18% respectively.

As we look ahead to the current session, technical analysts suggest that the 22,300 level will act as a crucial support for the Nifty index, while the 22,600 level will present resistance. These levels will be closely monitored by traders to gauge potential market movements.

Top Stocks to Buy Today:

1) TEAMLEASE

Buy TEAMLEASE shares in intraday timeframe at CMP Rs. 2981.65

2) ASAHIINDIA

Buy ASAHIINDIA shares in intraday timeframe at CMP Rs. 565.65

3) GOCOLORS

Buy GOCOLORS shares in intraday timeframe at CMP Rs. 1213.2

4) CGCL

Buy CGCL shares in intraday timeframe at CMP Rs. 227.1

Top Stocks to Short Today:

1) IDEA

Sell IDEA shares in intraday timeframe at CMP Rs. 13.7

2) DMART

Sell DMART shares in intraday timeframe at CMP Rs. 4705.5

3) METROBRAND

Sell METROBRAND shares in intraday timeframe at CMP Rs. 1106.5

4) SONACOMS

Sell SONACOMS shares in intraday timeframe at CMP Rs. 676.45

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!