Intraday Stocks To Buy Today, June 17: Top Picks By Sumeet Bagadia For Profitable Trading On Tuesday

The domestic market began the previous session with the Nifty at 24,732, which was a somewhat favorable start. The index recovered well from a brief slide to an intraday low of 24,703 and reached an intraday high of 24,967 before closing the session close to the day's high, up 227.90 points, or 0.92%, to conclude at 24,946.50. Indian markets held up well in the face of growing global uncertainty brought on by intensifying Middle East tensions. Following recent surges, the India VIX, a gauge of anticipated market volatility, fell to 19.11, down around 1.71%. Bulls find solace in this retreat, which may portend calmer conditions ahead.

Nifty Outlook Today

"On the daily chart it has formed a bull candle with a higher high and higher low signaling strong buying demand at lower levels. Index is expected to extend last five weeks consolidation in the broad range of 24,400-25,200. Only a move out of this range will signal acceleration of price action. On the higher side immediate resistance is placed at 25,000 a move above the same will open pullback towards the upper band of the consolidation range placed at 25,200. Key support is placed at 24,500-24,400 zone being the confluence of the 50-day EMA and the lower band of the last five weeks consolidation range," commented the research analysts of Bajaj Broking.

Bank Nifty Outlook Today

"It has formed a bull candle with a higher high and higher low and in the process filled its Friday's gap down area and 20 days EMA. In the coming session a move above 56,000 levels will open further upside towards 56600 and 57,000 levels in the coming sessions. Failure to do so will lead to consolidation in the range of 56,000-55,000 amid stock specific action. On the downside only a breach below 55,000 levels will open downside towards the key support area of 54,500-55,000 in the coming sessions," stated the research analysts of Bajaj Broking.

Stocks To Buy Today

On Tuesday, June 17, Choice Broking's executive director, Sumeet Bagadia, recommended buying two stocks amid the India VIX continues to be a watchpoint. A comeback above 16 might indicate fresh worry, while a drop below 15 is an encouraging signal.

Max Healthcare Institute

Buy MAXHEALTH in Cash @ Rs 1246.80, Stop-loss @ Rs 1203, Target @ Rs 1345

MAXHEALTH is currently trading at ₹1246.80 and continues to follow a strong upward trajectory, forming a consistent pattern of higher highs and higher lows-indicative of sustained bullish momentum. The stock has recently closed above a significant resistance level at ₹1230, signaling a potential continuation of the current uptrend.

Additionally, MAXHEALTH has reached a new 52-week high of ₹1250. The next key resistance lies around ₹1275, and a breakout above this level could ignite fresh buying interest. If the stock sustains above this zone, it may gather further momentum toward the short-term target of ₹1345. Traders should keep a close eye on price action around ₹1275 for confirmation of a breakout.

All major Exponential Moving Averages (20, 50, 100, and 200-day) are trending upward, with the price positioned comfortably above them, reinforcing the bullish sentiment and confirming the strength of the ongoing trend.The Relative Strength Index (RSI) is at 67.55 and trending higher, suggesting strengthening buying pressure.

On the downside, immediate support is placed at ₹1230, and a stop-loss at ₹1203 is advised for effective risk management.

MAXHEALTH presents a compelling technical setup for a potential continuation of the uptrend. A breakout above ₹1275 could lead to a swift move toward the ₹1345 target. Traders may consider entering on confirmation of the breakout, while adhering to disciplined risk management with a stop-loss at ₹1203.

Laurus Labs

Buy LAURUSLABS in Cash @ Rs 680.25, Stop-loss @ Rs 656, Target @ Rs 728

Laurus Labs is currently trading at ₹680.25, sustaining a strong upward trajectory marked by a consistent pattern of higher highs and higher lows-an indication of persistent bullish momentum. The stock recently achieved a fresh 52-week high of ₹683, and is now approaching a key resistance zone around ₹700.

A decisive breakout above this level could trigger renewed buying interest and accelerate upward momentum.All major Exponential Moving Averages (EMAs) that is 20, 50, 100, and 200-day , are sloping upward, with the price trading firmly above them. This alignment suggests continued strength in trend and strong underlying demand across timeframes.

If the stock manages to close above the ₹700 resistance mark, it could gain further traction toward the short-term target of ₹728. Traders are advised to closely monitor the price action near the ₹700 zone for confirmation of a breakout before initiating fresh positions.On the downside, immediate support is placed at ₹666. The Relative Strength Index (RSI) is currently at 73.12 and moving upward, signaling strengthening buying momentum.

For risk management, a stop-loss at ₹656 is recommended to protect against potential downside volatility.Laurus Labs presents a technically sound buying opportunity, with bullish indicators supporting further upside potential. A breakout above ₹700 could pave the way for a move toward ₹728. Traders should consider entering on confirmation, with disciplined risk management in place.

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.