Top Stocks to Buy/Sell Today - 07 August, 2024
**Previous Session's Market Recap**
The market commenced today's session with a modest gap-up opening, but gradually succumbed to selling pressure throughout the day. As a result, the Nifty concluded the session with a marginal decline of 0.26%. The broader market lagged behind, with the Nifty Midcap 100 index closing lower by 0.61%.
**Sectoral Performance**
The real estate and IT sectors emerged as the top performers of the previous session, while PSU banks and financial services lagged behind the market.
**Options Market Dynamics**
Significant open interest was observed at the 24500 Call and 24000 Put options. The sentiment remained bearish, with a higher volume of call writing compared to put writing.
**Technical Indicators**
The Volume Weighted Average Price (VWAP) range for the previous session extended from 23900 to 24200. The Max Pain level was situated at 24200. The Put-Call Ratio (PCR) stood at 0.49, reflecting a bearish bias.
**Institutional Activity**
Foreign institutional investors (FIIs) remained net sellers, offloading equities worth a total of 3531.24 crore. Domestic institutional investors (DIIs), on the other hand, acted as net buyers, absorbing shares worth 3357.45 crore.
**FPI Multi Index Futures Activity**
Short-covering in FINNIFTY futures (-1363) and MIDCPNIFTY futures (292) was evident, while BANKNIFTY futures (-9317) faced significant unwinding.
Top Stocks to Buy Today:
1) GLAND
Buy GLAND shares in intraday timeframe at CMP Rs. 1921.95
2) TATACONSUM
Buy TATACONSUM shares in intraday timeframe at CMP Rs. 1200.5
3) JUBLPHARMA
Buy JUBLPHARMA shares in intraday timeframe at CMP Rs. 832.7
4) ASIANPAINT
Buy ASIANPAINT shares in intraday timeframe at CMP Rs. 3084.95
Top Stocks to Short Today:
1) CONCORDBIO
Sell CONCORDBIO shares in intraday timeframe at CMP Rs. 1562.3
2) SOBHA
Sell SOBHA shares in intraday timeframe at CMP Rs. 1749
3) GODREJPROP
Sell GODREJPROP shares in intraday timeframe at CMP Rs. 2954.5
4) LODHA
Sell LODHA shares in intraday timeframe at CMP Rs. 1217.05
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!