Intraday Stocks To Buy Today, March 19: Top Picks By Anand James of Geojit Investments On Thursday

As the GIFT Nifty is currently hovering around 23,278, reflecting a sharp decline of roughly 504 points and indicating an unsatisfactory opening for the benchmark indices amid mounting Middle East tensions and inflationary fears gripping global markets, Indian equity markets are expected to begin the trading session on March 19 with a negative bias. Growing tensions in West Asia and rising Brent crude prices due to concerns about supply interruption have put pressure on this negative trend.

Nifty Outlook Today

"On the daily chart, Nifty has formed a positive candle. The index is currently trading above the 0.236 Fibonacci retracement level placed near 23,750, indicating a gradual improvement in the near-term setup. It is also hovering around the 10 EMA, suggesting that immediate momentum is attempting to stabilise after the recent breakdown. However, the index continues to trade below the middle Bollinger Band. The RSI has moved higher and is now placed near 37, indicating a recovery from lower levels," said Om Mehra, Technical Research Analyst, SAMCO Securities.

"The MACD remains in negative territory, but the histogram is contracting. As long as Nifty sustains above 23,450 on a closing basis, the buy-on-dip strategy may remain favourable in the near term, with potential upside toward 23,900-24,050. On the downside, a break below 23,450 may weaken the recovery and bring back selling pressure," h further added.

Bank Nifty Outlook Today

"Despite reclaiming 55,000, the index needs to sustain above 55,500 to trigger further short covering, while 55,000-54,800 now acts as a crucial support zone; a break below this could drag the index toward 54,200. Structurally, the index is improving but still maintains a cautious tone with a lower-high formation intact, suggesting resumption of supply when market rallies. Momentum is stabilizing with RSI rebounding from oversold levels, indicating early recovery signs," commented Dhupesh Dhameja, Derivatives Research Analyst, SAMCO Securities.

"On the hourly chart, the index is trading above its 10-EMA and 20-EMA, reflecting short-term strength, though upside momentum is facing resistance near supply zones. In derivatives, PCR near 0.89 reflects a balanced undertone, with strong call writing at 56,000 capping the upside, while put writers have shifted toward 55,000, marking it as a key support. This positioning suggests a well-defined range of 55,000-56,000 for the near term. With volatility still elevated amid global uncertainties, range-bound trading with a slight positive bias is likely, where dips may continue to attract buying interest unless 55,000 is decisively breached," the analyst commented.

Stocks To Buy Today

Anand James, Chief Market Strategist at Geojit Investments Limited, recommended buying two stocks today with a five-day holding period after the Nifty index is trading above its 10-EMA and 20-EMA on the hourly chart, indicating short-term strength.

Pricol Ltd

• Entry range: 546 - 536
• Target: 553 - 568
• Stoploss: 527
• Reversal candle

ONGC

• Target: 270 - 275
• Stoploss: 258.5
• Doji candle

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.