Intraday Insights: Stocks to Watch Today

The previous session witnessed an initial decline, followed by persistent selling pressure throughout the day. Nifty concluded the session remarkably close to its intraday low, shedding 0.80 percent.

In contrast to Nifty 50, the Nifty Midcap 100 index displayed resilience, albeit ending in red with a loss of 0.32 percent.

Sectoral analysis revealed Pharmaceutical and Healthcare sectors as notable outperformers, exhibiting strength. However, Banking and Financial Services sectors encountered hurdles and underperformed throughout the trading session.

The options market signals caution, with maximum open interest concentrated on the call side at 23000/23500 levels and on the put side at 22500/22000 levels. Today's option chain analysis suggests a higher volume of call writing compared to put writing, reflecting bearish market sentiment.

The Volume Weighted Average Price (VWAP) indicates a potential trading range between 22630 and 22890 for the current session. The Max Pain is observed at 22800 spot, with the CE/PE Combined Residual Premium/Pain Value amounting to 1844.98 Crores.

In the cash market, Foreign Institutional Investors (FIIs) emerged as net sellers, transacting over 5841.84 crore. On the other hand, Domestic Institutional Investors (DIIs) demonstrated net buying activity, contributing 5233.79 crore.

Top Stocks to Buy Today:

1) AJANTPHARM

Buy AJANTPHARM shares in intraday timeframe at CMP Rs. 2307.05

2) SWANENERGY

Buy SWANENERGY shares in intraday timeframe at CMP Rs. 616.55

3) BLUESTARCO

Buy BLUESTARCO shares in intraday timeframe at CMP Rs. 1502.45

4) HDFCLIFE

Buy HDFCLIFE shares in intraday timeframe at CMP Rs. 562.35

Top Stocks to Short Today:

1) CGPOWER

Sell CGPOWER shares in intraday timeframe at CMP Rs. 648.05

2) GRINFRA

Sell GRINFRA shares in intraday timeframe at CMP Rs. 1586.55

3) RHIM

Sell RHIM shares in intraday timeframe at CMP Rs. 675.9

4) LEMONTREE

Sell LEMONTREE shares in intraday timeframe at CMP Rs. 143.55

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!