Best Intraday Stocks Today - 17 December, 2024

**Market Overview:**

The equity markets had a mixed session today, following the previous session's positive performance. The broader market indices witnessed some consolidation after yesterday's gains. Domestic markets exhibited resilience, while global cues remained mixed. Investors took a cautious approach ahead of key economic data and central bank meetings.

Sectoral Performance:

Sectorally, the performance was varied. Banking stocks witnessed profit-booking after recent gains, while the IT sector remained under pressure due to concerns about valuations and geopolitical tensions. On the other hand, select consumer discretionary stocks outperformed, supported by positive news about upcoming product launches.

Upcoming Catalysts:

The markets will keenly await the release of corporate earnings reports in the upcoming week. Key economic data, including GDP and inflation figures, will also be closely monitored. Investors will also be looking for cues from central banks, as they deliberate on monetary policy tightening.

Technical Analysis:

Technically, the markets are trading within a range. The Nifty50 has formed a potential support level around the 16,800 mark, while the resistance remains in the 17,000-17,100 zone. A decisive break above or below these levels could determine the short-term trend.

Recommendation:

Given the mixed market conditions, investors are advised to remain cautious and adopt a stock-specific approach. Focus on companies with strong fundamentals and avoid chasing momentum plays. It is advisable to wait for a clear break of key support or resistance levels before taking significant positions.

Top Stocks to Buy Today:

1) INTELLECT

Buy INTELLECT shares in intraday timeframe at CMP Rs. 845.7

2) CSBBANK

Buy CSBBANK shares in intraday timeframe at CMP Rs. 330.75

3) MANAPPURAM

Buy MANAPPURAM shares in intraday timeframe at CMP Rs. 184.57

4) SONATSOFTW

Buy SONATSOFTW shares in intraday timeframe at CMP Rs. 676.75

Top Stocks to Short Today:

1) KNRCON

Sell KNRCON shares in intraday timeframe at CMP Rs. 347.35

2) RITES

Sell RITES shares in intraday timeframe at CMP Rs. 299.9

3) EASEMYTRIP

Sell EASEMYTRIP shares in intraday timeframe at CMP Rs. 17.07

4) RATNAMANI

Sell RATNAMANI shares in intraday timeframe at CMP Rs. 3344.6

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!