Intraday Insights: Stocks to Watch Today

During the previous session, the market exhibited a notable downward trend following an initial opening in the negative territory. Despite an initial rebound in the early trading hours, unrelenting selling pressure throughout the day pushed the indices lower. As a result, the benchmark index concluded the session close to its intraday low, sustaining a substantial loss of 1.10 percent.

In comparison to the broader Nifty 50 index, the Nifty Midcap 100 index faced greater challenges, ending with a significant decline of 1.57 percent. Sectoral analysis revealed that Energy and Metals stood out with notable gains, while Media and PSU Banks underperformed, encountering significant headwinds.

Within the options market, the highest concentration of open interest was observed at the 22700 strike price for call options, while the 22000 strike price attracted the most open interest on the put side. This distribution reflects a bias towards bearish sentiment, with more call writing activity detected than put writing.

Based on the Volume Weighted Average Price (VWAP), the expected trading range for the current session falls between 22215 and 22460. The Max Pain level is identified at 22400, with a combined Residual Premium/Pain Value of 346.54 Crores for call and put options.

Foreign Institutional Investors (FIIs) exhibited net selling activity with a total value of 3268.00 crore, while Domestic Institutional Investors (DIIs) maintained a net buying stance, contributing a total of 4762.93 crore to the market.

Top Stocks to Buy Today:

1) JMFINANCIL

Buy JMFINANCIL shares in intraday timeframe at CMP Rs. 80.6

2) MOTHERSON

Buy MOTHERSON shares in intraday timeframe at CMP Rs. 120.65

3) SHARDACROP

Buy SHARDACROP shares in intraday timeframe at CMP Rs. 368.6

4) APOLLOTYRE

Buy APOLLOTYRE shares in intraday timeframe at CMP Rs. 467.55

Top Stocks to Short Today:

1) MHRIL

Sell MHRIL shares in intraday timeframe at CMP Rs. 394.1

2) VBL

Sell VBL shares in intraday timeframe at CMP Rs. 1397.75

3) FDC

Sell FDC shares in intraday timeframe at CMP Rs. 454.75

4) HLEGLAS

Sell HLEGLAS shares in intraday timeframe at CMP Rs. 443.8

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!