Intraday Stocks To Buy Today, March 13: Top Picks By Anand James of Geojit Investments On Friday

The Indian stock market begins down on Friday, March 13. The Sensex was at 75439 during pre-opening trade, while the Nifty was below 23,500 owing to rising crude oil prices and the growing worry surrounding the West Asian crisis. Asian stocks fell on Friday on the global market, setting up a second consecutive weekly fall ahead of the Federal Reserve's meeting on March 17, when it is mainly anticipated that the central bank will maintain interest rates steady.

Nifty Outlook Today

"Technically, the market is now hovering near a crucial make-or-break support at 23,500, and a decisive break down below this zone could accelerate downside momentum toward 23,200. The index continues to trade below its 10-DEMA, while momentum indicators remain weak with the RSI slipping below 40 and drifting in oversold territory. Meanwhile, India VIX stabilizing above 20 reflects heightened caution among market participants. On the hourly chart, Nifty remains under pressure as it trades below both the 20-EMA and 50-EMA, confirming persistent short-term weakness," commented Dhupesh Dhameja, Derivatives Research Analyst, SAMCO Securities.

"In the derivatives segment, the Put-Call Ratio (PCR) stands near 0.69, indicating a cautious-to-bearish undertone, with significant call writing at the 24,000 strike, establishing a strong resistance ceiling, while put writers are shifting positions toward 23,500, marking it as the immediate support and make-or-break level. Unless the index reclaims 23,800-24,000, any recovery is likely to be viewed as a sell-on-rise opportunity, particularly amid ongoing geopolitical uncertainty," he further added.

Bank Nifty Outlook Today

"Technically, the index is trading below its 10-DEMA, reinforcing the prevailing bearish undertone, while the RSI on both the daily and hourly charts has slipped into oversold territory, suggesting weak momentum despite the possibility of intermittent pullbacks. On the hourly timeframe, the index remains below the 20-EMA, 50-EMA and Supertrend, confirming that the short-term trend continues to favour sellers," Dhupesh Dhameja commented.

"In the derivatives segment, the Put-Call Ratio (PCR) stands near 0.79, reflecting a cautious bias, with aggressive call writing at the 56,000 strike forming a strong resistance ceiling, while put writers have shifted positions toward the 55,000 strike, marking it as the immediate support and the market's key battleground. Unless the index reclaims 56,000 decisively, any recovery is likely to be viewed as a sell-on-rise opportunity, while a decisive break below 55,000 could open the door toward 54,500," the analyst further claimed.

Stocks To Buy Today

In light of the ongoing uncertainty surrounding the West Asian crisis, Anand James, Chief Market Strategist at Geojit Investments Limited, has suggested buying two stocks today with a five-day holding period.

Greenpanel Industries

• Entry range: 205-202
• Target: 212 - 218
• Stoploss: 195
• Range breakout

TAJ GVK Hotels and Resorts

• Entry range: 305-299
• Target: 313 - 320
• Stoploss: 292
• Range breakout

Disclaimer: The views and recommendations expressed are solely those of the individual analysts or entities and do not reflect the views of Goodreturns.in or Greynium Information Technologies Private Limited (together referred to as "we"). We do not guarantee, endorse or take responsibility for the accuracy, completeness or reliability of any content, nor do we provide any investment advice or solicit the purchase or sale of securities. All information is provided for informational and educational purposes only and should be independently verified from licensed financial advisors before making any investment decisions.