Top Intraday Stocks Today - 03 July, 2024

**Previous Session's Market Dynamics:**

The market witnessed an auspicious start, with the Nifty opening on a positive note. However, it encountered a sudden downturn in the initial stages, causing significant volatility. Subsequently, the index fluctuated within a narrow range of 24060-24190, ultimately settling marginally higher by 0.07%.

**Nifty Midcap 100's Performance:**

In contrast to the Nifty 50's resilience, the Nifty Midcap 100 faced challenges, closing the session with a loss of 0.38%. This underperformance highlights the divergence in market sentiment between large-cap and mid-cap stocks.

**Sectoral Performance:**

The IT and Media sectors emerged as standout performers during the previous session, showcasing strength and resilience. On the flip side, PSU Banks and FMCG sectors encountered difficulties, reflecting the broader market sentiment.

**Options Market Insights:**

The options market witnessed elevated activity, with high Open Interest concentrated at the 24500 Call and 24000 Put strike prices. The sentiment remained bearish, as evidenced by increased call writing relative to put writing, indicating a cautious outlook among market participants.

**Trading Range and Max Pain:**

The Volume Weighted Average Price (VWAP) range spanned from 24005 to 24240. The Max Pain point settled at 24100 spot, with the combined premium/pain value for both Call and Put options standing at 777.87 Crores.

**Institutional Activity:**

Foreign Institutional Investors (FIIs) emerged as net sellers, offloading shares worth 2000.12 crore. However, Domestic Institutional Investors (DIIs) provided some respite, acting as net buyers with 648.25 crore of investments. This divergence in institutional sentiment is worth monitoring in the upcoming session.

Top Stocks to Buy Today:

1) M&MFIN

Buy M&MFIN shares in intraday timeframe at CMP Rs. 300.45

2) TEAMLEASE

Buy TEAMLEASE shares in intraday timeframe at CMP Rs. 2965.25

3) SUVENPHAR

Buy SUVENPHAR shares in intraday timeframe at CMP Rs. 827.95

4) VIJAYA

Buy VIJAYA shares in intraday timeframe at CMP Rs. 786.3

Top Stocks to Short Today:

1) HINDCOPPER

Sell HINDCOPPER shares in intraday timeframe at CMP Rs. 324.75

2) TV18BRDCST

Sell TV18BRDCST shares in intraday timeframe at CMP Rs. 47.01

3) BHARATFORG

Sell BHARATFORG shares in intraday timeframe at CMP Rs. 1655.7

4) MSUMI

Sell MSUMI shares in intraday timeframe at CMP Rs. 73.58

Disclaimer: Remember, the market is a living beast, and even the most informed predictions can be devoured by unforeseen events. While this analysis is based on a thorough rule-based research, the ultimate decision to buy or sell rests with you. Do your own due diligence, consider your risk tolerance, and craft a strategy that aligns with your financial goals. Stratzy provides insights, not guarantees, and cannot be held responsible for any gains or losses incurred in your trading activities. Invest wisely, trade responsibly, and may the market gods favor you!