Best Intraday Stocks Today - 07 January, 2025

Yesterday's Performance\n\n

The markets displayed a positive trajectory during last session. The key indices, the Nifty 50 and Bank Nifty, both exhibited gains. The Nifty 50 closed with a rise of 0.63%, propelled by strong performance in sectors such as IT, pharma, and FMCG. The Bank Nifty mirrored this upward trend, advancing by 0.47%, backed by contributions from banking and financial institutions.

In the broader markets, the small-cap and mid-cap indices showcased a more robust performance. The Nifty Smallcap 100 surged by an impressive 1.12%, while the Nifty Midcap 100 gained 0.89%. These gains reflect investor optimism and expectations for continued growth in the coming session.

The market breadth remained positive, with a majority of stocks closing in the green. This indicates a widespread participation and confidence among market participants. The advance-decline ratio, a measure of the number of stocks rising compared to those falling, stood at 1.3:1, further bolstering the positive sentiment.

Technical Analysis\n\n

From a technical perspective, the Nifty 50 has breached an immediate resistance level of 17,900 and is currently trading above its crucial support level of 17,800. This breakout suggests a bullish momentum and potential for further gains. The Relative Strength Index (RSI) is hovering around 60, indicating that the market is currently in a neutral zone. However, the presence of positive divergences in both the RSI and the Moving Average Convergence Divergence (MACD) hints at a potential reversal and a possible continuation of the uptrend.

Outlook\n\n

Based on the current market dynamics and technical indicators, the upcoming session is likely to open on a positive note. The Nifty 50 is expected to continue its upward trajectory, with potential resistance levels at 18,000 and 18,100. However, it is important to note that market conditions can change rapidly, and investors should exercise caution and conduct thorough research before making any investment decisions.

Top Stocks to Buy Today:

1) ITC

Buy ITC shares in intraday timeframe at CMP Rs. 444.65

2) JSWENERGY

Buy JSWENERGY shares in intraday timeframe at CMP Rs. 600.85

3) SAREGAMA

Buy SAREGAMA shares in intraday timeframe at CMP Rs. 562.8

4) FINEORG

Buy FINEORG shares in intraday timeframe at CMP Rs. 4457.95

Top Stocks to Short Today:

1) LODHA

Sell LODHA shares in intraday timeframe at CMP Rs. 1349.3

2) CROMPTON

Sell CROMPTON shares in intraday timeframe at CMP Rs. 369.75

3) CONCORDBIO

Sell CONCORDBIO shares in intraday timeframe at CMP Rs. 2155

4) JKLAKSHMI

Sell JKLAKSHMI shares in intraday timeframe at CMP Rs. 803.9

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!