Intraday Trading: Top Stocks on NSE Today - 06 May, 2024

During the recently concluded trading session, the market opened with an initial surge, but a gradual decline ensued for most of the day. However, buying interest surged in the closing hour, leading to a partial recovery. The market ultimately settled with a modest loss of 0.76 percent.

The Nifty Midcap 100 index outperformed its larger counterpart, the Nifty 50, closing with a comparatively smaller loss of 0.35 percent.

Sectorally, Pharma and Healthcare exhibited strength and emerged as the top performers. In contrast, Realty and Energy faced challenges and lagged behind.

In the options market, the highest open interest for calls is concentrated at the 22800 level, while for puts, it is situated at 22000. The current option chain suggests a higher volume of call writing compared to put writing, indicating a bearish market outlook.

The Volume Weighted Average Price (VWAP) suggests a potential trading range of 22370 to 22670 for the upcoming session. The Max Pain is located at the 22500 spot, with a CE/PE Combined Residual Premium/Pain Value of 628.17 Crores.

In the cash market, Foreign Institutional Investors (FIIs) were net sellers to the tune of 2391.98 crores, while Domestic Institutional Investors (DIIs) exhibited net buying of 690.52 crores.

Top Stocks to Buy Today:

1) RECLTD

Buy RECLTD shares in intraday timeframe at CMP Rs. 516.45

2) AUROPHARMA

Buy AUROPHARMA shares in intraday timeframe at CMP Rs. 1150.55

3) VMART

Buy VMART shares in intraday timeframe at CMP Rs. 2205.2

4) SHOPERSTOP

Buy SHOPERSTOP shares in intraday timeframe at CMP Rs. 733.5

Top Stocks to Short Today:

1) CDSL

Sell CDSL shares in intraday timeframe at CMP Rs. 2152.75

2) GODREJPROP

Sell GODREJPROP shares in intraday timeframe at CMP Rs. 2734.8

3) KOTAKBANK

Sell KOTAKBANK shares in intraday timeframe at CMP Rs. 1614.4

4) EQUITASBNK

Sell EQUITASBNK shares in intraday timeframe at CMP Rs. 95.5

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!