Intraday Trading: Top Stocks on NSE Today

In the preceding session, the market commenced with a notable upward gap but swiftly encountered profit-taking at elevated levels. Throughout the trading period, the market exhibited volatility, fluctuating within a wide price range of 23060-23325. Despite the initial rally, investors utilized higher prices as an opportunity to book profits. Ultimately, the market concluded with a strong positive bias, registering a substantial gain of 3.25 percent.

The Nifty Midcap 100 index marginally underperformed its larger counterpart, the Nifty 50, but nevertheless finished in the green with a significant gain of 3.19 percent.

Among various sectors, PSU Banks and Energy exhibited strength, emerging as top performers. Conversely, Pharma and IT encountered challenges, resulting in weaker performance and lagging behind the broader market.

The options market analysis indicated that the highest open interest on the call side was at the 23500/24000 levels, while on the put side, it was concentrated at 22500/22000. The session's option chain analysis suggested a higher volume of put writing relative to call writing, signaling bullish sentiment prevailing in the market.

The Volume Weighted Average Price (VWAP) projected a trading range between 22780 and 23570 for the current session. The Max Pain level was observed at 23000 spot, with a CE/PE Combined Residual Premium/Pain Value of approximately 1509.35 Crores.

In the cash market, Foreign Institutional Investors (FIIs) maintained a buying stance, recording net purchases worth 6850.76 crore. Domestic Institutional Investors (DIIs) also exhibited net buying activity, contributing 1913.98 crore.

Top Stocks to Buy Today:

1) ADANIENT

Buy ADANIENT shares in intraday timeframe at CMP Rs. 3296.3

2) BEL

Buy BEL shares in intraday timeframe at CMP Rs. 288

3) IDEA

Buy IDEA shares in intraday timeframe at CMP Rs. 14.6

4) ADANIPORTS

Buy ADANIPORTS shares in intraday timeframe at CMP Rs. 1432.25

Top Stocks to Short Today:

1) ZYDUSLIFE

Sell ZYDUSLIFE shares in intraday timeframe at CMP Rs. 1013.7

2) SUVENPHAR

Sell SUVENPHAR shares in intraday timeframe at CMP Rs. 613

3) CRISIL

Sell CRISIL shares in intraday timeframe at CMP Rs. 3991.25

4) KRBL

Sell KRBL shares in intraday timeframe at CMP Rs. 265.55

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!