Intraday Trading: Top Stocks on NSE Today - 18 April, 2024
Explore the leading Indian stock market selections primed for potential profits and lucrative short-selling prospects within the day's trading window! Explore 18 April, 2024's top intraday stocks!
**Previous Session's Market Performance**
The indices opened with a negative gap, setting the tone for the day. The Nifty fluctuated within a narrow range of 22080-22215, failing to regain lost ground. By the end of the session, it relinquished 0.56 percent, ending in red.
The Nifty Midcap 100 performed marginally better than the Nifty 50 but still closed with a loss of 0.09 percent.
Sectorally, Energy and Media emerged as bright spots, demonstrating resilience. However, IT and PSU Banks faced challenges and underperformed, weighing on the overall market sentiment.
The options market hinted at a bearish outlook. The highest open interest on the call side was observed at 22500, while on the put side, it stood at 22000. Activity in the options chain indicated greater put writing compared to call writing, further supporting the bearish sentiment.
The Volume Weighted Average Price (VWAP) projected a potential trading range of 22035-22265 for the upcoming session. The Max Pain was established at 22200 with a combined premium/pain value of 434.62 Crores.
In the cash market, Foreign Institutional Investors (FIIs) emerged as net sellers, offloading a total of 4468.09 crores. In contrast, Domestic Institutional Investors (DIIs) played a more positive role, with net buying amounting to 2040.38 crores.
Top Stocks to Buy Today:
1) INTELLECT
Buy INTELLECT shares in intraday timeframe at CMP Rs. 1020
2) TEAMLEASE
Buy TEAMLEASE shares in intraday timeframe at CMP Rs. 3257.9
3) KPRMILL
Buy KPRMILL shares in intraday timeframe at CMP Rs. 839.1
4) GALAXYSURF
Buy GALAXYSURF shares in intraday timeframe at CMP Rs. 2603.8
Top Stocks to Short Today:
1) ANGELONE
Sell ANGELONE shares in intraday timeframe at CMP Rs. 2995.25
2) PRINCEPIPE
Sell PRINCEPIPE shares in intraday timeframe at CMP Rs. 608.9
3) POWERGRID
Sell POWERGRID shares in intraday timeframe at CMP Rs. 284.5
4) SUNTECK
Sell SUNTECK shares in intraday timeframe at CMP Rs. 432.45
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!