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

The Nifty ended the previous session with a 0.61% decline, closing at 22,399.15. While Nifty Bank concluded the day down at 50,240.25, down 0.54% following the highly anticipated RBI Policy event, the Nifty index moved within a modest intraday range, reaching highs of 22,468.70 and lows of 22,353.25. The market's fear indicator, the India VIX, gained 4.83% to finish at 21.43, indicating that traders were becoming more worried on the day of the RBI decision. While the start of the quarterly results season will keep investors engaged amid rising trade tensions brought on by US tariffs, Indian stocks are predicted to remain volatile generally until more clarity on the US tariff path becomes available.

Nifty Outlook

"The index once again failed to escape its congestion zone, staying largely trapped between known boundaries amid persistent global uncertainty. The day's close with a small-bodied candle near major support reaffirms the ongoing range-bound structure between 22,300 and 22,800. A convincing follow-through is required to reignite bullish momentum. Until the index decisively surpasses the 22,800 mark, upside traction remains limited. The 22,300-22,200 belt has now turned into a dependable support base, bolstered by strong put writing activity. Meanwhile, the resistance zone of 22,700-22,800 continues to weigh heavily due to aggressive call OI and historical supply pressure. A breakout beyond 22,800 will be critical for the bulls to take command. On the flip side, sustained trading below 22,270 could invite fresh selling pressure and drag the index toward the 22,000 zone," said Dhupesh Dhameja, Derivatives Research Analyst, SAMCO Securities.

Bank Nifty Outlook

"Technically, the index is coiling tight between key averages and supply zones. A break above 50,800 could trigger momentum towards 51,200+, while a breach below 49,900 might open the gates for 49,500. The index continues to consolidate between two critical battlegrounds 200-DEMA support and 10-DEMA resistance and a sharp move is brewing. Until a clear breakout unfolds, expect continued chop, and traders would do well to stay nimble and watch the 50,000-50,800 band for a directional cue," commented Dhupesh Dhameja.

Stocks To Buy Today

On Friday, April 11, Choice Broking executive director Sumeet Bagadia suggested buying two stocks after the Reserve Bank of India (RBI) lowered its benchmark repo rate by 25 basis points for the second time in a row, bringing it down to 6% as anticipated.

Aster DM Healthcare

Buy ASTERDM in cash @ Rs 492.75, Stop-loss @ 475, Target @ 525

ASTERDM is currently positioned at 492.75 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 weeks 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 500 levels, a breakout beyond this threshold could pave the way for further upward momentum. Sustaining levels above 500 may propel the stock towards the next target at 525 levels, presenting a promising outlook for investors.

Reinforcing the positive sentiment, the Relative Strength Index (RSI) comfortably rests at 70.39 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 ASTERDM at CMP of 492.75 for a medium term outlook with a stop loss of 475 for targets of 525.

Max Financial Services

Buy MFSL in Cash @ Rs 1164.55, Stop-loss @ 1125, Target @ 1250

MFSL, is currently trading at 1164.55, exhibits a strong uptrend, supported by its consistent position above key exponential moving averages (EMAs). Recent price action indicates a consolidation phase and showing strong signs of an impending breakout from its consolidation phase, and the technical indicators are aligning for a potential fresh upside rally., with the stock maintaining levels near the 20-Day EMA.

This setup suggests the potential for continued upward movement. With the stock positioned above its short-, medium-, and long-term EMAs, bullish momentum appears well-supported. If this trend continues, MFSL could reach a short-term target of 1250.

On the downside, immediate support is located at 1125. The Relative Strength Index (RSI) is currently at 61.03 and trending upward, reflecting growing buying momentum. To manage risk effectively, a stop-loss at 1125 is suggested to guard against any unexpected market reversals.

In conclusion, based on the technical analysis and current market conditions, MFSL presents a promising buying opportunity for those aiming for a 1250 target, provided that appropriate risk management strategies are in place.

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.