Top Stocks to Buy/Sell Today - 22 May, 2024

In the preceding session, the market exhibited a mixed trajectory. Beginning with a downward trend, the Nifty gradually ascended during the initial half of the trading period. However, the momentum encountered resistance around the 22580 level, leading to profit-taking activities that partially offset the earlier gains. As a result, the Nifty ended the session with a modest increase of 0.12 percent.

The Nifty Midcap 100 index outperformed its benchmark, the Nifty 50, posting a positive gain of 0.38 percent. Among the various sectors, Metals and PSU Banks emerged as clear frontrunners, while FMCG and Private Banks faced challenges and lagged behind.

In the options market, the highest concentration of open interest was observed at 23000 for calls and 22500 for puts. The analysis indicated a higher volume of call writing compared to put writing, suggesting a cautious sentiment among market participants.

The Volume Weighted Average Price (VWAP) projected a trading range of 22400 to 22625 for the current session. The Max Pain point was identified at 22500 spot, with a CE/PE Combined Residual Premium/Pain Value of 498.88 Crores.

Foreign Institutional Investors (FIIs) acted as net sellers, with an activity of 1874.54 crore, while Domestic Institutional Investors (DIIs) played a net buying role, contributing 3548.97 crore to the market.

Top Stocks to Buy Today:

1) BHEL

Buy BHEL shares in intraday timeframe at CMP Rs. 307.35

2) AETHER

Buy AETHER shares in intraday timeframe at CMP Rs. 816.4

3) IRCON

Buy IRCON shares in intraday timeframe at CMP Rs. 285.2

4) GALAXYSURF

Buy GALAXYSURF shares in intraday timeframe at CMP Rs. 2526.05

Top Stocks to Short Today:

1) APTUS

Sell APTUS shares in intraday timeframe at CMP Rs. 306.95

2) EPIGRAL

Sell EPIGRAL shares in intraday timeframe at CMP Rs. 1261.8

3) JUBLFOOD

Sell JUBLFOOD shares in intraday timeframe at CMP Rs. 480.25

4) VIJAYA

Sell VIJAYA shares in intraday timeframe at CMP Rs. 785.05

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!