Intraday Stocks To Buy On Akshaya Tritiya: Top Picks By Sumeet Bagadia For Profitable Trading On Wednesday

Tuesday's opening gap-up in Indian benchmark indices was followed by a flat closing after robust institutional buying and US trade negotiations with India. The Nifty Bank index fell 0.07%, losing 41.55 points to conclude at 55,391.25, while the Nifty50 ended the day slightly higher at 24,335.95 (+0.03%). The India VIX increased 2.54% to 17.37, indicating heightened market volatility. The current global macro challenges might cause volatility to spike in an unpredictable way. Following the release of their Q4 financial results, Bajaj Finance, Bajaj Finserv, Trent, BPCL, and Ambuja Cements will be the focus of attention today. On the other hand, on Wednesday, April 30, Adani Power, Vedanta, IOCL, Varun Beverages, INDUS TOWERS, Jindal Steel & Power, Coromandel International, JSW Infrastructure, Phoenix Mills, Federal Bank, Ajanta Pharma, CRISIL, and Bandhan Bank will release their Q4 results.

Nifty Outlook Today

"The Nifty continues to move through a consolidation-cum-caution phase, as resistance at higher levels persists. The recent price action reflects a classic tug-of-war between bulls and bears. As the index hovers near its upper boundary while firmly protecting the lower support zones, a breakout in either direction will likely set the tone for the next trend. As long as Nifty holds above the crucial 23,900-23,800 support zone, the broader structure remains constructive. A sustained breakout above 24,500 could open the floodgates for renewed bullish momentum, possibly taking the index toward the 25,000 milestone. Until such a breakout occurs, expect a choppy, range-bound market. A breakout above the resistance band could reinvigorate bullish sentiment, while a breakdown below support may trigger profit-taking toward 23,500. Given the sharp uptrend in recent weeks, this consolidation appears to be a healthy pause - a base-building phase ahead of a potential directional breakout," said Dhupesh Dhameja, Derivatives Research Analyst, SAMCO Securities.

Bank Nifty Outlook Today

"The Nifty Bank index remains locked in a sideways-to-cautious setup, with sellers successfully capping upside moves while buyers maintain their ground at lower levels. As the index consolidates near resistance but continues to respect support zones, the breakout direction - whether upward or downward - will dictate the near-term trend. So long as the index stays above the 54,300-54,500 support zone, the broader chart structure remains positive. A sustained breakout above 56,100 could unlock fresh upside potential, pushing the index toward the 56,700 mark. However, in the absence of a breakout, range-bound movement is expected to persist. A breakdown below key support could invite a mild corrective dip towards 53,800. Overall, the current sideways movement appears to be a healthy base-building phase after a sharp rally, preparing for the next major directional move," commented Dhupesh Dhameja.

Stocks To Buy Today

On the occasion of Akshaya Tritiya 2025, Choice Broking's executive director, Sumeet Bagadia, suggested buying two stocks on Wednesday, April 30.

Astra Microwave Products

Buy ASTRAMICRO in cash @ Rs 850, Stop-loss: Rs 820, Target: Rs 910

ASTRAMICRO is currently trading at ₹850 has delivered a strong technical breakout, reflecting renewed investor interest and buying momentum. After consolidating in the 600-750 range for several weeks, ASTRAMICRO has broken past its previous swing highs and shows strength in both price and volume.

The price structure indicates strong institutional interest and suggests further upside potential in the coming sessions. If the stock sustains above ₹850, it could see immediate resistance near ₹880-910 levels. On the downside, support now shifts to the ₹820-815 zone, which aligns with the breakout zone.

Furthermore, ASTRAMICRO is trading above key Exponential Moving Averages (EMAs), including the 20-day, 50-day, 100-day, and 200-day EMAs. This suggests a strong bullish momentum, indicating the potential for continued upward price action. The Relative Strength Index (RSI) stands at 71.21, signalling an upward trajectory and confirming an increase in buying momentum.

In summary, considering the technical analysis and prevailing market conditions, ASTRAMICRO appears to present a promising buying opportunity for those targeting a ₹910 price objective, contingent upon the implementation of prudent risk management measures.

Hitachi Energy India

Buy POWERINDIA in cash @ Rs 14390, Stop-loss @ 13800, Target @ 15400

POWERINDIA is currently positioned at 14390 levels, has shown robust upward momentum. The stock's showing an impressive turnaround on the charts, as the stock gears up for a fresh upside rally following a strong breakout from its earlier congestion zone. After spending past few sessions in a sideways to corrective phase, the counter has decisively crossed over multiple critical moving averages, indicating renewed bullish momentum.

The chart reveals a steady climb, with the 20-day EMA trending upward and converging towards the 50-day and 100-day EMAs. This alignment of moving averages suggests a continuation of the bullish trend if supported by further buying pressure., affirming its inherent strength.

While facing a minor resistance at 14500 levels, a breakout beyond this threshold could pave the way for further upward momentum. Sustaining levels above 14500 may propel the stock towards the next target at 15400 levels, presenting a promising outlook for investors.

Reinforcing the positive sentiment, the Relative Strength Index (RSI) comfortably rests at 67.37 levels. 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 POWERINDIA at CMP of 14390 for a medium term outlook with a stop loss of 13800 for targets of 15400.

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.