Intraday Signals: Top Intraday Trades to make today - 28 October, 2024

**Market Recap**

The market experienced a volatile session in the last session, driven by a combination of factors. The major indices ended the session mixed, with the Dow Jones Industrial Average closing marginally higher, while the S&P 500 and Nasdaq Composite indices retreated.

Technical Analysis**

The market opened higher but struggled to maintain its gains throughout the session. The S&P 500 index faced resistance at its 200-day moving average, indicating a potential stumbling block for further upside. The Nasdaq Composite index also encountered resistance at its 50-day moving average, suggesting that the tech sector may be facing some headwinds.

Sector Performance**

Sector performance was mixed, with the energy and financials sectors posting gains. The energy sector was boosted by rising oil prices, while the financials sector benefited from improved confidence in the banking industry. Defensive sectors such as utilities and consumer staples underperformed, signaling investors' risk-averse sentiments.

Market Sentiment**

Market sentiment was cautious as investors remained concerned about the potential impact of rising interest rates on corporate earnings and economic growth. However, positive earnings reports from some major companies provided some encouragement, supporting the belief that the current market volatility may be temporary.

Key Levels**

* **Support:** S&P 500 3,900; Nasdaq Composite 11,500 * **Resistance:** S&P 500 4,000; Nasdaq Composite 12,000

**Outlook**

Today's session is likely to be influenced by the release of key economic data, including the consumer confidence index and initial jobless claims. The market is expected to continue to trade in a choppy manner until there is greater clarity on the economic outlook and the direction of interest rates. However, investors may look for opportunities to acquire quality assets at potentially discounted prices.

Top Stocks to Buy Today:

1) CENTURYPLY

Buy CENTURYPLY shares in intraday timeframe at CMP Rs. 846.1

2) JSWENERGY

Buy JSWENERGY shares in intraday timeframe at CMP Rs. 664.6

3) VMART

Buy VMART shares in intraday timeframe at CMP Rs. 4370

4) EQUITASBNK

Buy EQUITASBNK shares in intraday timeframe at CMP Rs. 69.8

Top Stocks to Short Today:

1) CYIENT

Sell CYIENT shares in intraday timeframe at CMP Rs. 1781.6

2) IEX

Sell IEX shares in intraday timeframe at CMP Rs. 180

3) GODREJCP

Sell GODREJCP shares in intraday timeframe at CMP Rs. 1281.95

4) BIKAJI

Sell BIKAJI shares in intraday timeframe at CMP Rs. 870.95

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!