Intraday Stocks To Buy Today, May 14: Top Picks By Sumeet Bagadia For Profitable Trading On Wednesday

The Nifty returns to the range during the previous session, and bulls lose ground as the 25K turns out to be rigid. The Nifty ended the day at 24,578.35 on Tuesday, down 1.39% (-346.35 points) as sellers walked in forcefully. The Nifty Bank closed at 54,940.85, down 0.80% (-442 points) for the day. The India VIX closed at 18.20, down 1.05%, remaining below the critical 20-point threshold. However, the fall indicates calming tensions following global and global concerns. The daily RSI has cooled off from 67 to 65, indicating a decent consolidation, even if the Nifty still sits above all of the short-term EMAs. Investor attention continues to be on fluctuating geopolitical cues, institutional flows, and forthcoming macro data after India's retail inflation sharply moderated to 3.16% in April 2025, the lowest since August 2019.

Nifty Outlook Today

"With the Nifty failing to build upon previous gains and once again sinking into its former range, sentiment has turned visibly muted. A wave of put unwinding has occurred, even as FPI flows turned decisively positive - keeping hope alive. But overall, the market seems to be entering a consolidation zone, with no clear directional bias. As call writers descend to lower strikes and open fresh exposure, the bearish tone is becoming harder to ignore. Looking forward, 24,500 stands out as a crucial floor to defend. A move above 25,000 is essential to rekindle bullish momentum toward 25,200-25,300. Conversely, a breach below 24,500 may invite minor selling bouts, though every dip toward 24,370 should still be viewed as a fresh opportunity for bullish re-entries," commented Dhupesh Dhameja, Derivatives Research analyst, SAMCO Securities.

Bank Nifty Outlook Today

"With Nifty Bank unable to sustain above critical levels and facing repeated rejection near its supply zones, market sentiment has grown visibly subdued. A wave of call writing has intensified, especially around immediate resistance levels, reflecting growing pessimism. The index seems stuck in a consolidation zone with no clear breakout direction. As call writers tighten their grip at current levels and reposition themselves lower, the cautious tone is growing more evident. Looking forward, 54,700 remains a crucial line in the sand. A decisive move above 55,500 could trigger a rally toward 56,000-56,200, while a breakdown below 54,700 might invite light selling, but dips towards 54,500 are still likely to attract fresh buyers hunting for opportunity in a tight market," commented Dhupesh Dhameja.

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Stocks To Buy Today

On Wednesday, May 14, Choice Broking's executive director Sumeet Bagadia suggested buying two stocks after the Nifty index displayed a negative harami pattern on the daily chart, which usually signals a halt in the current upward trajectory.

Gujarat State Petronet

Buy GSPL in Cash @ Rs 347, Stop-loss @ Rs 334, Target @ Rs 380

GSPL is currently trading at ₹347, having recently rebounded from a key support zone. The stock has broken out of a falling trendline on the daily timeframe, signaling a potential trend reversal. This breakout is supported by rising trading volumes, indicating strong buying interest from market participants. In the near term, GSPL appears well-positioned to move towards the ₹380 level, with the Relative Strength Index (RSI) at 67.41, reflecting strengthening bullish momentum and room for further upside.

From a technical perspective, GSPL is trading comfortably above its 20-day, 50-day, and 200-day Exponential Moving Averages (EMAs), further reinforcing the positive trend. While the stock may face interim resistance near ₹360, a convincing breakout above this level could offer an ideal entry opportunity and further validate the bullish outlook.

Traders may consider initiating long positions at the current market price of ₹347, with a target of ₹380 and a stop-loss at ₹334 to manage downside risk. Despite the favorable chart setup, it is crucial to stay cautious of short-term market fluctuations and adhere to strict risk management practices. The current structure offers a good risk-to-reward ratio for short- to medium-term positional trades.

Syrma SGS Technology

Buy SYRMA in Cash @ Rs 564.40, Stop-loss @ Rs 544, Target @ Rs 605

SYRMA is displaying strong bullish momentum, as reflected by a substantial upward move and a significant closing at ₹564.40. The stock has witnessed consistent buying interest and recently experienced a consolidation breakout accompanied by strong volumes - a classic signal of potential bullish continuation.

Key technical indicators further support this positive outlook. The Relative Strength Index (RSI) stands at 69.42, indicating robust momentum while still offering room for upside before entering the overbought zone. Additionally, SYRMA is trading comfortably above its 20-day, 50-day, and 200-day Exponential Moving Averages (EMAs), reaffirming the strength of the ongoing uptrend.

The surge in volume aligned with the price breakout suggests heightened participation from market players, increasing the likelihood of further upward movement if momentum sustains. The technical setup presents a favorable risk-reward opportunity for positional traders.

Based on the current structure, a long position is recommended in SYRMA at the current market price of ₹564.40, with a target of ₹605 and a stop-loss at ₹544. While the trend appears strong, adhering to strict risk management practices is essential to navigate any short-term volatility and safeguard capital.

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.