Buy or Sell: Intraday Stocks Today - 12 April, 2024
**Previous Session's Market Analysis**
The trading session began with a positive gap, but the Nifty index remained confined within a narrow range of 22675-22730 for the first half. However, a surge in buying sentiment towards select index heavyweights propelled the Nifty above 22750. This momentum sustained throughout the session, resulting in a positive close with a notable gain of 0.49 percent.
The Nifty Midcap 100 index outperformed its benchmark, registering an impressive gain of 0.97 percent. Sector-wise, Media and PSU Banks emerged as strong performers, while Pharma and Auto sectors faced headwinds and exhibited weaker performance.
In the options market, the highest open interest was observed at the 23200 call level and 22700 put level. The notable volume of put writing activity compared to call writing suggested a bullish market sentiment.
Technical indicators like the Volume Weighted Average Price (VWAP) projected a trading range of 22585 to 22910 for the current session. Max Pain was indicated at 22700 spot, with a combined residual premium/pain value of 139.41 Crores.
In the cash market, Foreign Institutional Investors (FIIs) maintained a net buying stance with an activity valued at 2778.17 crore. Domestic Institutional Investors (DIIs) also participated in the buying activity, contributing a net of 163.36 crore.
Top Stocks to Buy Today:
1) LAURUSLABS
Buy LAURUSLABS shares in intraday timeframe at CMP Rs. 448.1
2) CROMPTON
Buy CROMPTON shares in intraday timeframe at CMP Rs. 291.2
3) AAVAS
Buy AAVAS shares in intraday timeframe at CMP Rs. 1577.65
4) STLTECH
Buy STLTECH shares in intraday timeframe at CMP Rs. 139.1
Top Stocks to Short Today:
1) CAMS
Sell CAMS shares in intraday timeframe at CMP Rs. 3166.2
2) CREDITACC
Sell CREDITACC shares in intraday timeframe at CMP Rs. 1492.7
3) CGCL
Sell CGCL shares in intraday timeframe at CMP Rs. 219.9
4) QUESS
Sell QUESS shares in intraday timeframe at CMP Rs. 597.15
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!