Daily Intraday Stock Picks on 15 March, 2024

**Previous Session's Market Performance**

The trading session commenced with a surge in buying momentum that propelled the Nifty to higher levels. After the initial burst of activity, the index oscillated within a narrower range between 22080 and 22200 for the remainder of the day. Despite some fluctuations, the Nifty ultimately ended the session on a positive note, posting a gain of 0.70 percent.

The Nifty Midcap 100 index outperformed its larger counterpart, closing with a significant gain of 2.15 percent. Sector-wise analysis revealed that Energy and Metals emerged as standout performers, demonstrating resilience throughout the session. In contrast, Banking and Financial Services encountered headwinds and lagged behind the broader market.

The options market data suggests a relatively balanced writing pattern on both the call and put sides, indicating a potential for range-bound activity in the current session. The highest open interest on the call side is concentrated at the 22500 level, while the put side exhibits a similar level of interest at 22000.

Based on the Volume Weighted Average Price (VWAP) and other technical indicators, analysts estimate a trading range of 21975 to 22360 for the current session. The Max Pain is observed at 22200 spot with the CE/PE Combined Residual Premium/Pain Value of 172.92 Crores.

In the cash market, Foreign Institutional Investors (FIIs) engaged in net selling activities, amounting to 1356.29 crore, while Domestic Institutional Investors (DIIs) were net buyers, contributing 139.47 crore to the market's liquidity.

Stocks to Buy Today:

1] BUY BALKRISIND at ₹2280 CMP for intraday timeframe.

2] BUY ITC at ₹421.05 CMP for intraday timeframe.

3] BUY HEG at ₹1820.5 CMP for intraday timeframe.

4] BUY HDFCBANK at ₹1454.1 CMP for intraday timeframe.

Stocks to Short Today:

1] SELL MANYAVAR at ₹984.05 CMP for intraday timeframe.

2] SELL ENDURANCE at ₹1828 CMP for intraday timeframe.

3] SELL CONCORDBIO at ₹1405.7 CMP for intraday timeframe.

4] SELL SOLARINDS at ₹8254.75 CMP for intraday timeframe.

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!