Intraday Stocks To Buy Today, June 12: Top Picks By Sumeet Bagadia For Profitable Trading On Thursday

The Nifty closed the previous session up 0.15% at 25,141.40, in addition, the daily RSI remains safely above 60 without displaying any bearish breach. However, after recently reaching an all-time high of 57,049.50, Nifty Bank had its third straight decline, closing the day at 56,459.75, down 0.30 percent. The India VIX fell 2.48% to close at 13.66, still well below the crucial 15-point barrier. Lower market fear and rising investor confidence are indicators of this decline in volatility, which usually encourages further upward momentum. In the hours to come, market players will be watching India's CPI inflation number on Thursday, the UK GDP print, and trade deal updates for more cues.

Nifty Outlook Today

"Despite intraday selling pressure from resistance zones, the index is still undergoing short covering and remains above its recent breakout neckline, implying that bullish momentum is intact. The unfilled gap continues to act as a cushion, while the RSI staying above the 60 mark lends further strength to the upward bias. With the index trading firmly above its key moving averages, the broader structure continues to favour the bulls. The sharp drop in India VIX only adds to the positive undertone, potentially setting the stage for another leg higher. As long as Nifty holds the 25,000 level, buying-on-dips remains a viable strategy. A breakout beyond 25,220 could accelerate short covering and fuel a move toward 25,350-25,400 in the coming sessions," said Dhupesh Dhameja, Derivatives Research Analyst, SAMCO Securities.

Bank Nifty Outlook Today

"Despite recent signs of long unwinding and intraday rejection from resistance zones, Nifty Bank continues to maintain its bullish bias, trading comfortably above its breakout levels. With RSI still holding above the 60 mark and price action remaining supported by key moving averages, the medium-term outlook remains constructive. The ongoing positioning by put writers at key levels and the shift of resistance into support further reinforces the base for a potential breakout. As long as the index maintains levels above 56,000, traders can expect the uptrend to resume with strength. A firm breakout above the 57,100-57,120 region could trigger another wave of short covering, pushing the index closer to 57,700. In summary, while short-term choppiness and profit booking persist, the broader market structure continues to favour the bulls. Traders should retain a positive stance with eyes on key support levels and look for fresh long opportunities above 57,120," stated Dhupesh Dhameja.

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Stocks To Buy Today

On Thursday, June 12, Choice Broking's executive director, Sumeet Bagadia, recommended buying two stocks after the Nifty index remained above the psychologically significant 25,000 mark.

SeQuent Scientific Ltd

Buy SEQUENT in cash @ Rs 199.4, Stop-loss @ Rs 192, Target @ Rs 213

SEQUENT is currently positioned at 199.4 levels, has shown robust upward momentum. The stock's showing an impressive turnaround on the charts, as the stock gears up for a fresh upside rally following a strong breakout from its earlier congestion zone. After spending past few sessions in a sideways to corrective phase, the counter has decisively crossed over multiple critical moving averages, indicating renewed bullish momentum.

The EMA alignment supports a strong uptrend and confirms bullish market structure. Fresh breakout seen after a 6-week consolidation range, suggesting trend continuation.
While facing a minor resistance at 200 levels, a breakout beyond this threshold could pave the way for further upward momentum. The stock looks strong for near-term upside.

Sustaining above ₹200 may open gates toward ₹213+, presenting a promising outlook for investors.

Reinforcing the positive sentiment, the Relative Strength Index (RSI) comfortably rests at 66.37 levels. Investors may find opportunities in this upward trajectory, particularly on confirmation of a sustained breakthrough above the resistance level.

Based on the above technical analysis we recommend buying SEQUENT at CMP of 199.4 for a medium term outlook with a stop loss of 192 for targets of 213

PPAP Automotive

Buy PPAP in cash @ Rs 256, Stop-loss: Rs 246, Target: Rs 275

PPAP showcases a strong bullish momentum, evident from a substantial upward movement and a significant closing around ₹256. The stock has shown exceptional strength in recent sessions, building on a sharp rally from sub-₹190 levels in late May to now testing new 6-month highs. Price action is decisively placed above all major EMAs, confirming a strong bullish trend and providing cushion for higher targets.

Key technical indicators, particularly the Relative Strength Index (RSI), emphasize the stock's positive momentum. Today's move came on a healthy volume of confirming genuine buying interest. A clean breakout from its multi-week consolidation range near ₹210 occurred last week, with the stock now forming higher highs and higher lows on the daily timeframe.

Based on the above analysis we recommend buying PPAP in cash at CMP of for the target of 275 with a stop loss of 246.

Disclaimer

The recommendations made above are by market analysts and are not advised by either the author, nor Greynium Information Technologies. The author, nor the brokerage firm nor Greynium would be liable for any losses caused as a result of decisions based on this write-up. Goodreturns.in advises users to consult with certified experts before making any investment decision.