Best Intraday Stocks Today

In the preceding session, the market witnessed a roller coaster ride, with the Nifty making a valiant ascent after an initial dip. However, as the session drew to a close, profit-taking pressures emerged, partially offsetting the earlier gains. Ultimately, the Nifty settled unchanged, indicative of a delicate equilibrium between bullish and bearish forces.

The Nifty Midcap 100 index emerged as a standout performer, outpacing its Nifty 50 counterpart with a robust 0.73 percent rise. Sectorally, Energy and Auto stocks shone brightly, demonstrating notable resilience. In contrast, the Banking and Financial Services sectors encountered headwinds and languished throughout the trading session.

The options market currently signals elevated open interest on the call side, particularly at the 22500/22800 strike prices. However, on the put side, significant open interest is concentrated at the 22000 strike. Scrutiny of the today's option chain reveals a slight bias towards call writing over put writing, suggesting a cautious undertone in the market.

Technical analysis based on Volume Weighted Average Price (VWAP) points towards a potential trading range of 22210 to 22390 for the current session. Additionally, the Max Pain level is currently located at 22350 on the spot price, with a combined Call/Put Residual Premium/Pain Value of 846.84 Crores.

In the cash market, foreign institutional investors (FIIs) assumed a net selling position, offloading shares worth ₹6669.10 crores. However, this was partially offset by domestic institutional investors (DIIs), who exhibited a net buying activity of ₹5928.81 crores.

Top Stocks to Buy Today:

1) WESTLIFE

Buy WESTLIFE shares in intraday timeframe at CMP Rs. 834.55

2) MARICO

Buy MARICO shares in intraday timeframe at CMP Rs. 588.8

3) NH

Buy NH shares in intraday timeframe at CMP Rs. 1273.9

4) BIRLACORPN

Buy BIRLACORPN shares in intraday timeframe at CMP Rs. 1535.5

Top Stocks to Short Today:

1) UCOBANK

Sell UCOBANK shares in intraday timeframe at CMP Rs. 53.7

2) BANKBARODA

Sell BANKBARODA shares in intraday timeframe at CMP Rs. 268.2

3) QUESS

Sell QUESS shares in intraday timeframe at CMP Rs. 634.25

4) SYMPHONY

Sell SYMPHONY shares in intraday timeframe at CMP Rs. 956.25

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!