Day Trading Guide: Best Intraday Shares To Buy Today—25th Aug

At 7.21 a.m. on Friday, Gift Nifty, formerly SGX Nifty, was trading at 19,301.5, up 8.5 points or 0.04%. The index began trading at 19,293 and ranged from an intraday high of 19,331 to a low of 19,290.5, suggesting that the Indian market may begin on a favourable note. However, investors' reactions to the RBI's minutes of the latest policy, in which the central bank signalled that future rate rises may be possible owing to an upsurge of inflationary concerns, would likely cause the market to stay cautious on Friday. The NSE index fell more than 1% or 200 points to finish at 19,386.70 on Thursday after reaching an intraday high of 19,584.45 and Sensex dropped 180 points to close at 65,252.34.

Nifty Outlook

Commenting on the outlook of Nifty today, Jatin Gedia - Technical Research Analyst at Sharekhan by BNP Paribas said, "The Nifty opened gap up however as the day progressed it witnessed selling pressure and closed in the negative down around ~57 points. On the daily charts, we can observe that the pullback rally has fizzled out around the resistance zone of 19500 - 19550 where multiple resistance in the form of the 20-day moving average and the 38.2% Fibonacci retracement level (19538) of the fall from 19992 - 19253 was placed. The daily and hourly momentum indicator has a negative crossover and thus the pullbacks are likely to be sold into. Overall, we shall continue to maintain our negative outlook on the index for a target of 19100. Crucial support is placed at 19280 - 19250 while immediate hurdle is placed at 19500 - 19530."

Bank Nifty Outlook

"Bank Nifty has witnessed a sharp fall after a gap up opening. The pullback rally has fizzled out around the 44900 - 45000 zone which coincided with the 50% fibonacci retracement level and the previous swing high. The daily and hourly momentum indicators are providing divergent signals and hence a consolidation is likely in the short term. The range of consolidation is likely to be 44000 - 45000, said Jatin Gedia.

Top Intraday Stocks To Buy Today

AR Ramachandran from Tips2Trades has suggested 3 best intraday shares to buy today on Friday.

BHEL

BHEL is bearish and overbought on the Daily charts with strong resistance at 113. A Daily close below support of 107 could lead to a target of 97 as well in the near term.

Titagarh Rail Systems

Titagarh Rail Systems is bullish but also overbought on the Daily charts with next resistances at 785 & 823. Investors should book profits at current levels as a daily close below support of 722 could lead to a target of 600 in the near term.

Tata Communications

Tata Communications stock price is bullish but also overbought on the Daily charts with next resistances at 1850 & 1895. Investors should book profits at current levels or hold till the Daily support of 1726 is broken on a closing basis.

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.