Top Stocks to Buy/Sell Today - 08 July, 2024
Lets delve into the hottest stocks for today with potential buying opportunities, along with those that might be primed for shorting based on technical analysis. Here are the best intraday stocks today on 08 July, 2024
**Previous Session's Market Analysis**
The session commenced with a gap-down opening in the Nifty index, which then fluctuated within a range of 24170-24290. The index managed to stage a recovery in the concluding hour, ultimately closing flat with a modest increase of 0.09%.
Meanwhile, the Nifty Midcap 100 index outperformed its larger counterpart, registering a gain of 0.83%.
**Sectoral Dynamics**
In terms of sector performance, the Pharmaceutical and Healthcare sectors emerged as top performers, while the FMCG and Media sectors experienced some challenges.
**Options Market Dynamics**
The previous session witnessed high open interest in call options at 24500 and put options at 24000. Sentiment remained neutral, with approximately equal writing in both call and put options.
**Trading Parameters**
The Volume Weighted Average Price (VWAP) range for the Nifty index was between 24165 and 24420. Max Pain was recorded at 24250, and the Put-Call Ratio (PCR) stood at 1.00.
**Institutional Activity**
Foreign Institutional Investors (FIIs) emerged as net buyers, contributing 1241.33 crore to the market, while Domestic Institutional Investors (DIIs) were net sellers, withdrawing 1651.36 crore.
**Futures Market Activity**
In the futures market, FINNIFTY FUTURES and BANKNIFTY FUTURES witnessed significant selling pressure, while MIDCPNIFTY FUTURES, NIFTYNXT50 FUTURES, and NIFTY FUTURES exhibited mixed activity.
Top Stocks to Buy Today:
1) BANKBARODA
Buy BANKBARODA shares in intraday timeframe at CMP Rs. 265.2
2) VINATIORGA
Buy VINATIORGA shares in intraday timeframe at CMP Rs. 1935.5
3) BANDHANBNK
Buy BANDHANBNK shares in intraday timeframe at CMP Rs. 202.47
4) AUBANK
Buy AUBANK shares in intraday timeframe at CMP Rs. 661.2
Top Stocks to Short Today:
1) 360ONE
Sell 360ONE shares in intraday timeframe at CMP Rs. 985.35
2) AWL
Sell AWL shares in intraday timeframe at CMP Rs. 341.75
3) MARICO
Sell MARICO shares in intraday timeframe at CMP Rs. 637.45
4) RAYMOND
Sell RAYMOND shares in intraday timeframe at CMP Rs. 3349.5
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!