Top Intraday Stocks Today - 06 August, 2024

**Previous Session's Recap**

In the recently concluded session, the market opened with a gap-down, indicating a pessimistic tone. Selling pressure dominated throughout, causing the Nifty to trade near its lows. The Nifty Midcap 100 index fared even worse, losing a substantial 3.55%.

**Sectoral Analysis**

The FMCG and Pharma sectors emerged as the day's outperformers, while Metals and Media sectors lagged behind.

**Options Market Dynamics**

Significant concentrations were observed at the 24500 Call and 24000 Put strike prices in the options market. The sentiment was predominantly bearish, as call writing activity outpaced put writing.

**Trading Parameters**

The VWAP range for the session extended from 23825 to 24260. The Max Pain level settled at 24300, indicating a market expectation of a close near that point. The Put-Call Ratio (PCR) of 0.457 further hinted at a bearish outlook.

**Institutional Movements**

Foreign Institutional Investors (FIIs) remained net sellers, with activity totaling 10073.75 crore. Domestic Institutional Investors (DIIs), on the other hand, emerged as net buyers, contributing 9155.55 crore.

**FPI Multi Index Futures Update**

FINNIFTY FUTURES: 80 BANKNIFTY FUTURES: -20863 MIDCPNIFTY FUTURES: -865 NIFTYNXT50 FUTURES: -48 NIFTY FUTURES: -13228

Top Stocks to Buy Today:

1) MANYAVAR

Buy MANYAVAR shares in intraday timeframe at CMP Rs. 1126

2) RAINBOW

Buy RAINBOW shares in intraday timeframe at CMP Rs. 1190.8

3) KANSAINER

Buy KANSAINER shares in intraday timeframe at CMP Rs. 299

4) CENTURYPLY

Buy CENTURYPLY shares in intraday timeframe at CMP Rs. 689.8

Top Stocks to Short Today:

1) BLS

Sell BLS shares in intraday timeframe at CMP Rs. 365.5

2) BRIGADE

Sell BRIGADE shares in intraday timeframe at CMP Rs. 1172.1

3) VMART

Sell VMART shares in intraday timeframe at CMP Rs. 3669.9

4) PRESTIGE

Sell PRESTIGE shares in intraday timeframe at CMP Rs. 1683.25

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!