Intraday Stocks To Buy Today, June 19: Top Picks By Sumeet Bagadia For Profitable Trading On Thursday

Benchmark indices ended the previous session slightly down after trading in a tight range accompanied by higher intraday volatility. For the major indices, this was the second straight session of fall. In the end, the Nifty index dropped 41.35 points, or 0.17%, to conclude at 24,812.05. Nifty fell below the 20 EMA, but its value is still above the 50-Day SMA, indicating that the overall trend is still in place. Both the Nifty Midcap 100 and Nifty Small cap 100 indices fell 0.46% and 0.23%, respectively, reflecting the continued pressure on the mood of the broader market. During Thursday's early trading, markets will respond to the conclusion of the US Fed policy meeting.

Nifty Outlook Today

"Index formed a small bull candle with a long upper shadow signaling consolidation ahead of the US FOMC rate decision and ongoing geo-political tension. The index on expected lines is seen extending its ongoing five-week range-bound consolidation within the broader zone of 24,400-25,200. On the upside, the index faces immediate supply pressure near the 25,000 marks, a sustained breakout above this level could trigger a short-term pullback rally towards the upper boundary of the consolidation zone, pegged around 25,200. On the downside index has immediate support at 24,700 a breach below the same will lead to extension of decline towards the lower band of the consolidation range placed around 24,500-24,400 levels. Key support is anchored in the 24,500-24,400 zone, which marks a confluence of the 50-day EMA and the lower boundary of the five-week consolidation range, making it a crucial demand zone for the index," said the analysts of Bajaj Broking Research.

Bank Nifty Outlook Today

"Bank Nifty formed a small bull candle with a small upper shadow signaling consolidation ahead of the US Federal Reserve rate decision. Going ahead only a sustained close above the 56,000 marks could pave the way for further upside towards the 56,600 and 57,000 levels. However, inability to surpass this hurdle may result in continued range-bound price action between 56,000 and 55,000, with a likely shift in focus to stock-specific moves. On the downside, a decisive break down below the 55,000 marks would invalidate the current consolidation structure and open the gates for a retest of the key support zone in the 54,500-54,000 region in the coming sessions," commented the analysts of Bajaj Broking Research.

Stocks To Buy Today

On Thursday, Choice Broking's executive director, Sumeet Bagadia, recommended buying two stocks on June 19 after US Federal Reserve chair kept key interest rates unchanged for the fourth time on Wednesday, June 18.

RBL Bank

Buy RBLBANK in Cash @ Rs 228.43, SL @ Rs 220 ,Target @ Rs 250

RBLBANK is currently trading at ₹228.43 and continues to exhibit a strong bullish structure, supported by the consistent formation of higher highs and higher lows. The stock recently rebounded from a key support zone near ₹214 and has since gained upward momentum, moving closer to its recent highs and a critical resistance level at ₹232. This upward movement is accompanied by steadily increasing volumes, indicating rising investor interest and active participation.

Technically, RBLBANK is trading comfortably above its 20-day, 50-day, and 200-day exponential moving averages, which reinforces the strength of the ongoing uptrend. The Relative Strength Index (RSI) stands at 62.93 and is trending higher, reflecting growing bullish sentiment.

In the near term, ₹225 is likely to act as an important support level. A decisive breakout above the ₹232 resistance level could trigger further buying interest and push the stock towards the next upside target of ₹250. To manage risk, a stop-loss at ₹220 is recommended in case of any adverse price movements.

Traders are advised to maintain disciplined position sizing and watch for any signs of short-term consolidation or pullbacks. If broader market sentiment remains supportive, RBLBANK is well-positioned to continue its upward trajectory and may potentially outperform its peers in the banking sector.

Whirlpool Of India

Buy WHIRLPOOL in Cash @ Rs 1365.80, Stop-loss @ Rs 1317, Target @ Rs 1461

WHIRLPOOL is currently trading at ₹1365.80, maintaining a strong bullish structure characterized by a consistent formation of higher highs and higher lows. The stock recently rebounded from a solid support zone near ₹1300 and has since shown strong upward momentum, approaching its recent highs and a major resistance level at ₹1400. This bullish move is supported by increasing volumes, highlighting growing buying interest and active market participation.

From a technical standpoint, WHIRLPOOL is trading comfortably above its 20-day, 50-day, and 200-day exponential moving averages, which confirms the strength of the prevailing uptrend. The Relative Strength Index (RSI) stands at 66.64 and is trending higher, indicating rising bullish momentum.

In the near term, the ₹1350 level is likely to act as a crucial support zone. A decisive breakout above the key resistance level of ₹1400 could trigger a renewed buying spree and push the stock toward its next potential target of ₹1461. To mitigate downside risk, traders are advised to place a stop-loss at ₹1317 to safeguard against sudden market reversals.

It is recommended that traders adopt prudent position sizing and closely track price movements for any signs of pullbacks or short-term consolidation. Should the broader market sentiment remain favorable, WHIRLPOOL appears well-positioned to continue its upward trajectory and potentially outperform its sectoral peers in the near term.

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.