Intraday Stocks To Buy Today, March 10: Top Picks By Anand James of Geojit Investments On Tuesday

The Nifty fell abruptly by 422 points on Monday due to extreme volatility in oil prices. HDFCBANK plummeted 61 points, which was the primary contributor to the Nifty's -422 point decline, followed by ICICIBANK.

The US ADP Employment Change/Existing Home Sales, China Trade Balance, Japan GDP Growth Rate, RBI Market Borrowing Auction, and Nifty Weekly Expiry are today's major events to watch.

Following a tumultuous session overnight due to US President Donald Trump's remarks that the Middle East war would end soon, Asian stocks rose strongly and crude oil prices fell in early Tuesday trade. Following remarks made by the U.S. President, oil prices plummeted on Tuesday. Donald Trump's prediction that the Middle East conflict would soon cease allays concerns about supply interruptions.

Nifty Outlook Today

"Technically, the index has bounced from the 24,300 demand zone and is now approaching immediate resistance near 25,080 (0.382 Fibonacci retracement), followed by a stronger hurdle around 25,320 (0.50 retracement), which also aligns with the falling 10-DEMA, making it a key supply zone. Momentum indicators are showing early improvement as the RSI has rebounded from the oversold zone but remains below 40, suggesting the recovery is still in its early phase, while a move above today's high (24,854) could confirm short covering," commented Dhupesh Dhameja, Derivatives Research Analyst, SAMCO Securities.

"On the derivatives front, the Put-Call Ratio (PCR) stands near 0.92, indicating relatively balanced positioning, with significant call open interest at 24,800 and 25,000 capping the upside, while put writers are active around 24,500, establishing it as an immediate support base. The overall structure suggests the index may witness a pullback toward 25,080-25,320 if it sustains above 24,500, whereas a break below this level could once again expose the index to downside risk toward 24,300," the analyst further added.

Bank Nifty Outlook Today

"Technically, the recovery can push the index toward 59,600-59,700 (0.382 Fibonacci retracement), while a stronger hurdle is placed near 60,079 (0.50 retracement), which also aligns close to the 50-DEMA, reinforcing it as a key supply zone. Momentum indicators show early improvement as the RSI has rebounded from the oversold zone but remains below 40, suggesting the recovery is still in its early phase, while a move above today's high could confirm short covering," commented Dhupesh Dhameja, Derivatives Research Analyst, SAMCO Securities.

"On the derivatives front, the PCR stands near 0.89, indicating a cautious undertone, with significant call writing at 60,000 and 61,000 capping the upside, while put writers are active around 58,500-59,000, establishing an immediate support base. The overall structure suggests that sustaining above 59,000 could extend the recovery toward 59,700-60,079, whereas a failure to hold 58,800-58,500 may once again expose the index to downside risk toward 58,000," the analyst further added.

Stocks To Buy Today

Anand James, Chief Market Strategist, Geojit Investments Limited has recommended these stocks to buy today.

Varroc Engineering

• Target: 490 - 500
• Stoploss: 474.5
• Hourly reversal

JK Paper

• Target: 336 - 344
• Stoploss: 320
• Doji candle

All 'Buy' recommendations have a holding period of 5 trading days.

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