Intraday Insights: Stocks to Watch Today

During the course of the previous session, Nifty commenced its trading journey with a gap-down opening, indicating a downward trend at the outset. The selling pressure continued, resulting in a gradual decline during the initial hours.

As the session progressed, a glimmer of optimism emerged around the 21950 level, triggering a partial recovery. While Nifty managed to claw back some lost ground, the selling pressure persisted, ultimately leading to a negative close. The index concluded the day with a loss of 0.56 percent, eroding investor sentiment.

The Nifty Midcap 100 index mirrored the performance of its larger counterpart, albeit with a marginally stronger showing. However, despite its resilience, the index could not escape the clutches of the broader market sentiment and ended the session in the red, registering a loss of 0.46 percent.

Sector-wise, the FMCG and Metals sectors displayed remarkable strength, emerging as the standout performers of the day. In contrast, the Energy and Auto sectors encountered headwinds, hampering their performance and resulting in a weaker overall showing.

Analysis of the options market provides insights into the prevailing market sentiment. The concentration of open interest on the call side at the 22500 level suggests a bullish outlook in the near term. On the other hand, the heavier volume on the put side at 22000 indicates the presence of a bearish undercurrent.

The Volume Weighted Average Price (VWAP) offers guidance for potential trading ranges in the current session. It suggests a range between 21855 and 22170, providing traders with a reference point for their strategies.

Finally, in the cash market, Foreign Institutional Investors (FIIs) demonstrated a positive stance, acting as net buyers with an activity worth 848.56 crore. This activity contrasted with Domestic Institutional Investors (DIIs), who were net sellers, offloading shares to the tune of 682.26 crore.

Top Stocks to Buy Today:

1) INTELLECT

Buy INTELLECT shares in intraday timeframe at CMP Rs. 1137

2) THERMAX

Buy THERMAX shares in intraday timeframe at CMP Rs. 3482.65

3) WHIRLPOOL

Buy WHIRLPOOL shares in intraday timeframe at CMP Rs. 1245.6

4) DMART

Buy DMART shares in intraday timeframe at CMP Rs. 3943.7

Top Stocks to Short Today:

1) RELAXO

Sell RELAXO shares in intraday timeframe at CMP Rs. 855.8

2) SJVN

Sell SJVN shares in intraday timeframe at CMP Rs. 129.4

3) IRCON

Sell IRCON shares in intraday timeframe at CMP Rs. 219.75

4) IDBI

Sell IDBI shares in intraday timeframe at CMP Rs. 83.35

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!