Top Intraday Stocks Today - 14 June, 2024

As the previous session commenced with an uptick, the Nifty encountered quick profit-taking pressure at the 23450 mark, causing it to retreat below the 23400 level. The index subsequently fluctuated within a confined range of 23350-23420 throughout the trading hours. Despite the initial setback, the Nifty managed to conclude with a positive gain of 0.33 percent.

The Nifty Midcap 100 index outshone its larger counterpart, showcasing a notable rise of 0.79 percent. Within the sectoral landscape, Realty and Consumer Durables emerged as frontrunners, exhibiting resilience. In contrast, FMCG and Media sectors encountered challenges, resulting in a comparatively weaker performance.

The options market revealed a noticeable concentration of open interest at the 23400 strike level for both call and put options. Analysis of the option chain indicated a higher volume of put writing relative to call writing, hinting at a cautious bullish sentiment.

The Volume Weighted Average Price (VWAP) established a trading range for the current session between 23245 and 23545. The Max Pain point was observed at 23400 spot, with a Combined Residual Premium/Pain Value of 366.88 Crores for CE and PE options.

In the cash market, foreign institutional investors (FIIs) and domestic institutional investors (DIIs) both engaged in net selling activities, amounting to 3033 crore and 553.88 crore, respectively.

Top Stocks to Buy Today:

1) DEEPAKFERT

Buy DEEPAKFERT shares in intraday timeframe at CMP Rs. 598.4

2) CANBK

Buy CANBK shares in intraday timeframe at CMP Rs. 119.87

3) OIL

Buy OIL shares in intraday timeframe at CMP Rs. 677.9

4) TIMKEN

Buy TIMKEN shares in intraday timeframe at CMP Rs. 4472.85

Top Stocks to Short Today:

1) ICICIGI

Sell ICICIGI shares in intraday timeframe at CMP Rs. 1702

2) HAVELLS

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3) HINDALCO

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4) EMAMILTD

Sell EMAMILTD shares in intraday timeframe at CMP Rs. 714

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!