Sumeet Bagadia’s intraday stocks for today
1] Asian Paints: Buy at ₹3294, target ₹3402, stop loss ₹3230.
Based on a comprehensive technical analysis of Asian Paints shares, it is suggested that a potential trading opportunity could be considered. The stock is currently trading at ₹3294, having established a sturdy support level around ₹3150 to ₹3200. Notably, Asian Paints has exhibited a favorable breakthrough above its 100-day and 200-day Exponential Moving Averages (EMA), signifying a positive shift in its trend dynamics.
2] Tata Consumer: Buy at ₹848.35, target ₹885, stop loss ₹830.
Tata Consumer share price is currently trading near ₹848.35 levels. The Strength is shown by the RSI indicator’s current trading range of 51 levels. The stock has moved above 20 Day EMA and has also closed above the same levels and currently trading above all of the key moving averages. The Bollinger band continues to expand on the daily chart after a squeeze, with the price trading above the band’s centre line, indicating the stock’s strength. A small resistance is placed near 863 levels; if the stock surpasses this level, it may move towards ₹885 levels and higher.
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3] Muthoot Finance: Buy at ₹1283, target ₹1310, stop loss ₹1270.
In the short-term trend, Muthoot Finance share has a bullish reversal pattern, technically retrenchment could be possible till 1310. So, holding the support level of ₹1270 this stock can bounce toward the ₹1310 level in the short term. Hence, the trader can go long with a stop loss of ₹1270 for the target price of ₹1310.
4] Shriram Finance: Buy at ₹1885, target ₹1920, stop loss ₹1870.
Shriram Finance share price has shown a bullish reversal pattern. So, holding the support level of ₹1870 this stock can bounce toward the ₹1920 level in the short term. Hence, the trader can go long with a stop loss of ₹1870 for the target price of ₹1920.
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5] Surya Roshni: Buy at ₹970, target ₹1020, stop loss ₹935.
The counter is continuing its higher highs and higher lows formation .It has witnessed a breakout of Cup and handle formation with huge volume. The structure of the counter looks lucrative as it is trading above all its important moving averages.
6] Mukand: Buy at ₹189.20, target ₹202, stop loss ₹182.
The counter has shown a breakout of a triangle formation with strong volume. It starts a new leg of rally towards ₹200.