Market analysts have suggested buying specific intraday stocks amidst a cautious market environment. Despite recent declines in major indices, experts point to breakout stocks as promising intraday trades.
Top Intraday Stock Picks from Market Experts
Market Overview:
- Indices Performance: The Sensex and Nifty 50 both fell over 1%, while mid- and small-cap indices on the BSE declined by about 0.5%.
- Sentiment Drivers: Investor sentiment remains fragile due to weaker-than-expected Q2 earnings and continuous selling by foreign institutional investors (FIIs).
- Fed Rate Cut: The U.S. Federal Reserve cut interest rates by 25 basis points, citing easing in the job market and progress toward a 2% inflation target.
Expert Recommendations:
- Sumeet Bagadia’s Strategy: Sumeet Bagadia from Choice Broking advises a stock-specific approach, especially focusing on breakout stocks within a cautious market.
- Market Resistance & Support: Bagadia highlights 24,500 as a resistance level and 24,000 as a key support level for Nifty 50. The market trend depends on movement beyond this range.
Top Intraday Picks
- DCM Shriram
- Century Enka
- Adroit Infotech
- Banaras Beads
- Oswal Greentech
Expert’s Insight:
- Trading Approach: Investors should focus on stocks with breakout potential, as they may yield favorable intraday gains despite market uncertainty.
Disclaimer: These views are from individual experts and brokerage firms. Always consult certified financial advisors before making investment decisions.
