As per Stock market analysts Kunal Kamble, Senior Technical Analyst at Bonanza Portfolio, Sumeet Bagadia, Executive Director at Choice Broking, and Ganesh Dongre, Senior Manager – Technical Research at Anand Rathi, five stocks are the best choices for you to buy today for intraday trading.
1- Cipla
Buy- ₹1,281.55
Stop loss of ₹1,245
Target Price- ₹1,340
Right now, Cipla is trading at 1,281.55. The stock has formed a robust bullish candle on the daily chart, indicating a resurgence of strength in the price action. There is a strong support level at 1,245, which is in line with the 20-Day Exponential Moving Average (EMA). The convergence of these stabilizing factors improves the resilience and stability of the stock. Moreover, CIPLA is trading above all significant moving averages, highlighting its general bullish outlook and trajectory.
2- Oracle Financial Services Software (OFSS)
Buy- ₹4,471
Stop loss- ₹4,340
Target price- ₹4,740
OFSS has recently broken out of the cup and handle pattern, indicating a strong uptrend. It is currently trading at ₹4,471. The current price is showing strong bullish momentum and is expected to continue towards the ₹4,740 level. The immediate resistance is located near the ₹4,600 level. Conversely, there is a lot of support in the vicinity of ₹4,340. Additionally, the fact that OFSS is trading above significant Exponential Moving Averages (EMAs) such as the 20-day, 50-day, 100-day, and 200-day EMAs suggests that there may be more upward price movement. This indicates strong bullish momentum.
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3- Welspun Corp
Buy- ₹574
Stoploss- ₹560
Target price- ₹590
The stock has a bullish reversal pattern in the short term trend; technically, a retrenchment could occur up to 590. Therefore, if the trader holds the 560 level of support, the stock may short-term bounce toward the 590 level, allowing them to go long with a stop loss of 560 and target price of 590.
The stock has displayed a bullish reversal pattern on the short-term chart, maintaining the 165 support level. The trader can go long with a stop loss of 165 for the target price of 180 because this stock may short-term bounce toward the 180 level.
4- Mahindra Logistics
Buy- Rs.432-434
Target- 465
Stop Loss- 416
Mahindra Logistics has demonstrated a bullish outlook for security by breaking out of its resistance and closing stronger with a rise in volume. The price has closed above the Slow (200) and Fast (50) Ema. Bullishness is indicated by an EMA that shows a positive shift in the security’s trading in the higher zone.
Also Read: Best Stock To Buy Today : Hindustan Petroleum Corporation 2024
5- Nykaa
Buy- ₹170
Stop loss- ₹165
Target price- ₹180
The stock has displayed a bullish reversal pattern on the short-term chart, maintaining the 165 support level. The trader can go long with a stop loss of 165 for the target price of 180 because this stock may short-term bounce toward the 180 level.
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