Intraday Stocks To Buy Today, May 22: Top Picks By Sumeet Bagadia For Profitable Trading On Thursday

The previous session saw the Nifty close at 24,813.55, up 0.52% after a three-day period of correction. Nifty Bank was up 0.36% at 55,075.10 at the close of the session. On the daily chart, the index displayed ambivalence by forming a standard Doji candle. The India VIX closed the day at 17.54, up 0.93%. This is the third consecutive session of modest rises, despite the fact that the growth isn't spectacular and reflects the prevailing concern. The VIX continues to indicate apprehensive undertones and possible shakeouts in the days to come by remaining over the comfort zone of 15, particularly during sell-offs. Following a period of significant sell-offs, FPIs have recently boosted their capital, suggesting that investor optimism regarding India's economic prospects and market performance has improved.

Nifty Outlook Today

"Despite an early surge, Nifty failed to retain altitude, with bears stepping in firmly and treating every bounce as a shorting opportunity. The retreat of put writers to lower strikes further validates the weakening undercurrent. FPIs are doubling down on bearish plays, with the long-short ratio plunging to just 37%-highlighting their defensive stance. Until the index decisively clears the 24,850-25,000 resistance patch, bulls may prefer to stay hands-off. On the downside, a break below 24,650 could unleash further selling pressure, potentially dragging the index down to 24,450. The current mood on D-Street remains one of cautious pessimism, with every rally increasingly looking like bait for sellers," commented Dhupesh Dhameja, Derivatives Research Analyst, SAMCO Securities.

Bank Nifty Outlook Today

"Despite the early optimism, Nifty Bank couldn't sustain higher ground. Sellers are exploiting every rally to mount fresh shorts. Notably, both call and put writers are holding their ground, suggesting that the market is in a consolidation phase with no clear exit on either side. FPIs, meanwhile, are ramping up bearish exposure across both futures and cash segments, adding to the pressure. Until the index convincingly clears the 55,500 wall, bulls are likely to stay dormant. A breakdown below 54,800 could tip the scales even further, targeting 54,350 or lower. For now, caution prevails, and every minor bounce is being treated as an opportunity to re-enter shorts," said Dhupesh Dhameja.

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Stocks To Buy Today

On Thursday, May 22, Choice Broking's executive director Sumeet Bagadia recommended buying two stocks amid the volatility index, India VIX, which surged by 0.93% to 17.55, indicating a rise in market volatility.

Apollo Micro Systems

Buy APOLLO in cash @ Rs 145.92, Stop-loss: Rs 141, Target: Rs 155

APOLLO is currently trading at 145.92. The price action seen on the daily chart indicates a decisive uptrend resumption backed by increasing volume and favourable moving average alignment. The stock had been trading in a consolidation phase between ₹110 and ₹140 levels from the month of January to mid-May 2025, post its initial spike. However, a breakout above ₹140 in recent sessions has turned sentiment bullish again. The stock has successfully cleared this resistance zone and is now approaching its earlier swing high of ₹155, indicating strong momentum buildup.

Adding to the positive momentum, the trend is now firmly bullish on both the daily and weekly charts. Additionally, APOLLO is trading above key moving averages, including the short-term (20 Day), medium-term (50 Day), and long-term (200 Day) EMAs, further affirming its bullish stance.

Based on the above analysis we recommend buying APOLLO in cash at CMP of 145.92 for the target of 155 with a stop loss of 141.

Pearl Global Industries

Buy PGIL in Cash @ Rs 1319.4, Stop-loss @ Rs 1270, Target @ Rs 1400

PGIL, is currently trading at 1319.4, exhibits a near retest of recent swing highs and signals bullish continuation following a brief consolidation on the daily chart, supported by its consistent position above key exponential moving averages (EMAs). Recent price action indicates the stock maintaining levels near the 20-Day EMA. The reclaim of the 20-day EMA is especially noteworthy, as it often signifies a shift from bearish to bullish sentiment. This technical alignment suggests the potential beginning of a medium- to long-term uptrend. If this trend continues, PGIL could reach a short-term target of 295.

On the downside, immediate support is located at 1290. The Relative Strength Index (RSI) is currently at 70.45 and trending upward, reflecting growing buying momentum. To manage risk effectively, a stop-loss at 1270 is suggested to guard against any unexpected market reversals.

In conclusion, based on the technical analysis and current market conditions, PGIL presents a promising buying opportunity for those aiming for a 1400 target, provided that appropriate risk management strategies are 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.