Intraday Insights: Stocks to Watch Today - 15 April, 2024

The market witnessed a bearish undertone in the previous session, with the Nifty benchmark closing below 22550. This decline was influenced by global cues as the US inflation soared by 0.4% month-over-month, exceeding expectations and leading to an increase in US Treasury yields.

All major sectoral indices succumbed to the downward trend, with Healthcare, FMCG, Media, and Oil & Gas shedding 1% each. The broader market also faced headwinds, with the S&P BSE Mid-Cap index declining by 0.49% and the S&P BSE Small-Cap index falling by 0.60%.

Technically, the Nifty (spot) has significant support at 22,400 and resistance at 22,700. As we approach the current session, these levels will be crucial in determining the market's short-term direction. Traders may look for opportunities within these bounds, keeping in mind the macroeconomic factors that have influenced the recent market performance.

Top Stocks to Buy Today:

1) NBCC

Buy NBCC shares in intraday timeframe at CMP Rs. 125.45

2) MMTC

Buy MMTC shares in intraday timeframe at CMP Rs. 71.7

3) NSLNISP

Buy NSLNISP shares in intraday timeframe at CMP Rs. 60.8

4) PRINCEPIPE

Buy PRINCEPIPE shares in intraday timeframe at CMP Rs. 592.05

Top Stocks to Short Today:

1) RAINBOW

Sell RAINBOW shares in intraday timeframe at CMP Rs. 1322.95

2) WESTLIFE

Sell WESTLIFE shares in intraday timeframe at CMP Rs. 829.8

3) IDEA

Sell IDEA shares in intraday timeframe at CMP Rs. 13.2

4) SHRIRAMFIN

Sell SHRIRAMFIN shares in intraday timeframe at CMP Rs. 2444.55

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!