Stocks To Buy Today: Intraday BUY/SELL Calls By Sumeet Bagadia On Friday, 13th December

On Thursday, the Nifty had a poor start to the day and continued to be under pressure, ending the day at 24,549 levels. The Bank Nifty started the day down, had some volatility, and ended the day lower at 53,216 levels. A fall in market volatility was indicated by the India Vix volatility index, which fell by 0.58% to 13.19 levels.

Nifty Outlook Today

"In terms of price action, there wasn't much change, as Nifty continued to trade within the range established during last Thursday's session. However, unlike the previous few sessions where the index remained range-bound while broader markets outperformed, today saw sharp profit-booking pressure in this space. The Nifty Midcap Select index showed hesitance near its previous swing high, while the Nifty SmallCap 100 index ended its remarkable 14-day winning streak. For Nifty, prices closed near the middle of the established range of 24400-24700, settling around 24550. The final trading day of the week will be critical in determining whether the index concludes near the upper or lower end of this range, which could set the tone for the upcoming week. From a technical perspective, as long as Nifty holds above the confluence zone of the 50 DEMA and 89 DEMA around 24400, bulls are likely to retain the upper hand. However, crossing the higher end of the recent range at 24700 will be essential to rekindle momentum in the broader markets, which faced selling pressure today. Traders should monitor these key levels closely, align their strategies accordingly, and keep an eye on global developments, as they are likely to influence the next phase of market momentum," said Rajesh Bhosale, Technical Analyst - Angel One Ltd.

Bank Nifty Outlook Today

"Technically, Bank Nifty index has formed a doji candle on its daily chart, indicating uncertainty. Overall, the index has been consolidating inside a narrow range during the last few sessions. Once this consolidation is over, only then index can give a fresh move. Thus, index is anticipated to consolidate in the band of 52,500-54,000 for short term. Traders are advised to buy near support zone and booking profit near resistance zone of 53,800-54,000," commented Hrishikesh Yedve, AVP Technical and Derivatives Research at Asit C. Mehta Investment Interrmediates Ltd. (A Pantomath Group Company).

Stocks To Buy Today

On Friday, December 13, Choice Broking's executive director, Sumeet Bagadia, recommended buying two stocks following a slight drop of 0.58% in the India VIX to 13.19, which suggested less market hesitancy. Overall mood seems to be in favour of bulls, as indicated by the VIX being below 15, despite the muted index performance.

Muthoot Finance

Buy MUTHOOTFIN in cash @ Rs 2124.75, stop-loss @ Rs 2050, Target @ Rs: 2250

MUTHOOTFIN is exhibiting strong bullish momentum, currently trading at an all-time high of 2132.9 levels. The recent breakout above the crucial resistance at 2050 levels is a significant technical development, supported by robust trading volumes, reinforcing the strength in the stock. The breakthrough suggests a potential continuation of the upward trend, offering an optimistic outlook for investors.

Additionally, MUTHOOTFIN is trading above key moving averages, including the short-term (20 Day), medium-term (50 Day), and long-term (200 Day) EMAs, further affirming its bullish stance. The momentum indicator, Relative Strength Index (RSI), is at 77.04 levels.

For traders, keeping an eye on the strong support near 2050 levels is advisable, as a breach of this level could signal a shift in sentiment. Overall, MUTHOOTFIN current technical setup suggests a favourable environment for further upside potential, provided traders and investors remain vigilant to potential reversals and closely monitor key support and resistance levels.

Based on the above analysis we recommend buying MUTHOOTFIN and the CMP of 2124.75 with a stop loss of 2050 for the target of 2250.

Max Healthcare Institute

Buy MAXHEALTH in cash @ Rs 1167.7, stop-loss: Rs 1125, target: Rs 1234

MAXHEALTH showcases a strong bullish momentum, evident from a substantial upward movement and a significant closing around Rs 1167.7. The stock has been experiencing robust buying interest, leading to consecutive gains and an attempt to consolidate after the recent surge.

Key technical indicators, particularly the Relative Strength Index (RSI), emphasize the stock's positive momentum. The RSI not only signals positive trends but also aligns with the stock trading above crucial moving averages, including the 20-day, 50-day, and 200-day Exponential Moving Averages (EMA). This convergence underscores the sustained strength in MAXHEALTH price action.

The surge in volume associated with this upward price action also indicates strong interest and a potential continuation of the rally if the momentum sustains a bullish outlook for MAXHEALTH Industries. Traders and investors may find this analysis indicative of potential continued upward momentum in the stock.

Based on the above analysis we recommend buying MAXHEALTH in cash at CMP of 1167.7 for the target of 1234 with a stop loss of 1125.

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.