Day Trading Guide For Today: 3 Intraday Stocks To Buy/Sell On Thursday

On September 13, benchmark indices rose at the close thanks to strong macro data. The Nifty was up 76.80 points or 0.38 percent at 20,070 at closure, while the Sensex was up 245.86 points or 0.37 percent at 67,466.99. On the Nifty, some of the top gainers were Grasim Industries, Coal India, Bharti Airtel, Tata Consumer Products, and Titan Company, while some of the top losers were HDFC Life, Jio Financial, L&T, M&M, and Adani Ports. On the sectoral front, metal and oil & gas and PSU Bank were the top gainers while capital goods, auto and Information Technology indices were the top losers. On the broader market front, BSE midcap index ended higher by +62.38 (0.19%) at 32,147.31 while Smallcap index added 0.8 percent to close at 37,296.78.

Market Outlook

Commenting on the Nifty prediction today, Rupak De, Senior Technical analyst at LKP Securities said "Bulls successfully regained control from bears, pushing Nifty back above the 20,000 mark. Notably, it closed above this threshold, marking a historic closing high for Nifty. The prevailing sentiment remains optimistic, contingent on put writers safeguarding the 19,900 level. A drop below 19,900 could unsettle put writers, potentially triggering market corrections. On the upside, the 20,100-20,150 range is poised to act as resistance. A clear breakthrough above 20,150 might propel Nifty into a sustained upward trend."

Commenting on Bank Nifty prediction today, Kunal Shah, Senior Technical & Derivative analyst at LKP Securities said, "The bulls took charge and dominated the market, resulting in the formation of a bullish engulfing candlestick pattern on the Bank Nifty index. This pattern signifies a potential reversal of the previous bearish sentiment. The lower-end support for the index is now established in the range of 45,700-45,600, serving as a strong cushion for the bulls and providing a crucial level of defense against any downward pressure. Looking ahead, the immediate hurdle on the upside is situated at the 46,000 mark. A successful breach above this level would likely pave the way for further upward momentum, with potential targets at 46,300 and 46,600 levels."

Stocks To Buy Today

Here are the intraday stock picks for Thursday, 14th September by AR Ramachandran from Tips2Trades.

ITI

ITI has been very bullish but also very overbought on the Daily charts with next resistance at 179.85. Investors should be booking profits at current levels as a daily close below support of 158.7 could lead to a sharp fall till 124 in the near term.

MMTC

MMTC has turned bearish on the Daily charts with strong resistance at 68. Investors should be booking profits at current levels as a daily close below support of 53 could lead to a fall till 44 in the near term.

Suzlon Energy

Suzlon Energy is bearish on the Daily charts with next resistance at 24.2. Investors should book profits at current levels or hold till Daily support of 21.55 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.