Intraday Stocks To Buy Today, 11th July: Top Picks By Sumeet Bagadia For Profitable Trading On Friday

Throughout the previous session, the Nifty was under pressure and did not show any signs of a significant rebound from lower levels. It settled 120.85 points down at 25,355.25, marking a dismal day's finale. Throughout the day, the Nifty Bank was under selling pressure, and it continued to show weakness by closing below the low of the day before. The India VIX closed at 11.67, down 2.24%, well below the psychological threshold of 15. This low-volatility regime points to muted investor fear and favors a slow, grinding market rather than volatile price swings. However, it also reflects indecision and a lack of strong directional conviction.

Nifty Outlook Today

"Nifty is trading at a critical juncture, with 25,300 acting as a key support. A breach below this could expose the index to further downside. On the upside, 25,550 continues to pose stiff resistance, with persistent selling pressure observed at that zone. As long as the index remains within the 25,300-25,600 range, directional clarity will remain elusive," commented Dhupesh Dhameja, Derivatives Research Analyst, SAMCO Securities.

"The broader trend stays neutral with the Relative Strength Index (RSI) slipping below the 60- mark, indicating weakening momentum. For any meaningful bullish sentiment to return, the index must sustain above the 25,550 level. Until then, sellers are expected to dominate. With earnings season underway, particularly from heavyweight IT stocks, results in the coming days will play a crucial role in setting the market tone for the week ahead," the analyst further added.

Bank Nifty Outlook Today

"The Nifty Bank index is currently poised at a critical juncture, with the 56,800 zone acting as a crucial support level. A decisive break below this mark may trigger additional downside, while a move above 57,300 is essential to revive buying interest. The index continues to trade in a tight range of 56,800-57,800, reflecting indecisiveness and lack of strong directional cues. The price action between the 10 and 20 DEMA suggests a phase of consolidation, with momentum indicators offering little support to bullish expectations," commented Dhupesh Dhameja.

"Notably, the Relative Strength Index (RSI) has slipped below the 60 mark, indicating weakening underlying strength. Until the index surpasses its overhead resistance, sellers are likely to dominate, and any intraday upticks may continue to attract selling. In the near term, corporate earnings from heavyweight IT names could act as key triggers for a potential breakout or breakdown," he further added.

Stocks To Buy Today

Sumeet Bagadia, executive director of Choice Broking, recommended purchasing two stocks on Friday, July 11, following the India VIX's 2.24% drop to 11.6725, which showed less market volatility and a comparatively steady sentiment.

Power Finance Corporation

Buy PFC in Cash @ Rs 429.45, Stop-loss @ Rs 414, Target @ Rs 460

Power Finance Corporation Ltd. (PFC) is currently trading at ₹429.45 and is exhibiting strong bullish momentum, supported by a rising price structure. On the daily chart, the stock is on the verge of breaking out from a symmetrical triangle pattern. A decisive close above the key resistance level of ₹436 would confirm this breakout and indicate the continuation of the prevailing uptrend.

All major Exponential Moving Averages (20, 50, 100, and 200-day) are trending upward, and the stock is trading well above these levels. This alignment highlights the underlying strength in the price action and reinforces the bullish sentiment. The Relative Strength Index (RSI) is currently at 60.04 and rising, reflecting increasing buying strength and positive momentum.

On the downside, immediate support is seen at ₹421, with a recommended stop-loss at ₹414 to manage risk in case of any unexpected pullback.

In summary, the technical setup presents a favorable risk-reward opportunity. Traders may consider initiating a long position at current levels, with a short-term target of ₹460. A breakout above ₹436, supported by strong volumes, would further validate the bullish outlook.

One 97 Communications

Buy PAYTM in Cash @ Rs 940.55, Stop-loss @ Rs 907, Target @ Rs 1010

PAYTM is currently trading at ₹940.55 and exhibits a strong bullish structure, characterized by a consistent pattern of higher highs and higher lows. The stock recently bounced back from a key support zone near ₹907 and is now showing strong upward momentum. This rise is backed by increasing trading volumes, indicating growing buying interest and active participation from market players.

From a technical perspective, PAYTM is trading comfortably above its 20-day, 50-day, and 200-day Exponential Moving Averages. This alignment of moving averages confirms the strength of the prevailing uptrend. Additionally, the Relative Strength Index (RSI) stands at 60.13, signaling improving bullish momentum while still staying below the overbought threshold-leaving room for further upside.

In the short term, PAYTM looks well-poised to move toward the ₹1010 level. However, traders should be aware of potential resistance around ₹952, which could act as a temporary hurdle. A decisive move above this level may provide a fresh entry opportunity for momentum traders.

Given the favorable technical setup, traders can consider entering long positions at the current market price of ₹940.55. A target of ₹1010 is realistic in the near term, while a stop-loss at ₹907 is advised to manage downside risk. Strict risk management and monitoring of key resistance levels are essential to navigate short-term market fluctuations effectively.

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.