Buy/Sell/Hold: Day Trading Stock Recommendations By Sumeet Bagadia On Thursday, 27th June

Strong buying demand was seen in the domestic benchmark index, Nifty, following its flat opening. Due to a surge in large-cap stocks, the index reached a new high of 23,889.90 and ended the day higher on Wednesday, closing at 23,868.80. Throughout the day, Bank Nifty held its resilience after opening with a big gain and closed the day at 52,870.50, after setting a new record high of 52,988.30. Investor focus will be on the Union Budget, rising FII inflows, and strong domestic economic data as the market may go through a phase of consolidation in the coming sessions.

Nifty Outlook Today

"Technically, the index broke out of the short-term consolidation zone of 23,330-23,670 in yesterday's session, and today it found support near the breakout point of 22,670. Based on this breakout, the rally may extend towards the 24,000 level. Therefore, it is advisable to adopt a buy-on-dips strategy for Nifty. On the downside, 23,670 will serve as immediate support for the index," said Hrishikesh Yedve, AVP Technical and Derivatives Research at Asit C. Mehta Investment Interrmediates Ltd.

Bank Nifty Outlook

" From a technical standpoint, the index experienced a breakout of the rounding bottom pattern above 51,134, leading to a strong rally. On the higher side, 53,000 will act as an immediate hurdle for Bank Nifty. If the index sustains above the 53,000 level, the rally could extend towards 54,000," Hrishikesh Yedve commented.

Stocks To Buy Today

Sumeet Bagadia, the executive director of Choice Broking, recommended buying two breakout stocks on the basis of technical analysis solely on Thursday, June 27 during the intraday trading session.

VST Tillers Tractors

Buy VSTTILLERS in cash @ Rs 4258.25, stop-loss @ Rs 4099, target @ Rs 4500

VSTTILLERS is exhibiting strong bullish momentum, currently trading at an all-time high of 4275.6 levels. The recent breakout above the crucial resistance at 4050 levels is a significant technical development, supported by robust trading volumes, reinforcing the strength in the stock. The breakthrough suggests a potential continuation of the upward trend, offering an optimistic outlook for investors.

Additionally, VSTTILLERS is trading above key moving averages, including the short-term (20 Day), medium-term (50 Day), and long-term (200 Day) EMAs, further affirming its bullish stance. The momentum indicator, Relative Strength Index (RSI), is at 71.6 levels.

For traders, keeping an eye on the strong support near 4099 levels is advisable, as a breach of this level could signal a shift in sentiment. Overall, VSTTILLERS current technical setup suggests a favourable environment for further upside potential, provided traders and investors remain vigilant to potential reversals and closely monitor key support and resistance levels.

Based on the above analysis we recommend buying VSTTILLERS and the CMP of 4258.25 with a stop loss of 4099 for the target of 4500.

Vishnu Chemicals

Buy VISHNU in cash @ Rs 458.95, stop-loss: @ Rs 440, target @ 485

VISHNU is currently positioned at 458.95 levels, reflecting a solid foundation established at the support level of 440. The consolidation and base formation at this support level signify stability in the stock's performance. Additionally, VISHNU exhibits resilience by trading above crucial moving averages, affirming its inherent strength.

While facing a minor resistance at 465 levels, a breakout beyond this threshold could pave the way for further upward momentum. Sustaining levels above 465 may propel the stock towards the next target at 485 levels, presenting a promising outlook for investors.

Reinforcing the positive sentiment, the Relative Strength Index (RSI) comfortably rests at 72.43 levels, indicating a favourable balance between buying and selling pressures. The technical parameters collectively suggest a constructive environment for VISHNU, encouraging potential bullish movements in the near term. Investors may find opportunities in this upward trajectory, particularly on confirmation of a sustained breakthrough above the resistance level.

Based on the above technical analysis we recommend buying VISHNU at CMP of 458.95 for a medium-term outlook with a stop loss of 440 for targets of 485.

Disclaimer

The recommendations made above are by market analysts and are not advised by either the author, nor Greynium Information Technologies. The author, nor the brokerage firm nor Greynium would be liable for any losses caused as a result of decisions based on this write-up. Goodreturns.in advises users to consult with certified experts before making any investment decision.