Intraday Stocks To Buy Today, April 21: Top Picks By Sumeet Bagadia For Profitable Trading On Monday

Nifty Bank continued its upward trend, rising 2.21 percent to close at 54,290.20, while Nifty concluded the previous session at 23,851.65, recording an outstanding 1.77 percent gain and capping the week with a spectacular 4.48 percent leap. With an intraday high of 54,407.20, the Nifty index came very close to reaching its all-time high of 54,467.35, missing it by only a few points. Due to encouraging cues from both domestic and global levels, the Nifty and Sensex closed close to the week's high. This week's major events include the quarterly results announcements from companies including HCL Technologies, Axis Bank, Hindustan Unilever, and Maruti. The fear indicator, the India VIX, dropped 2.51% to 15.46, indicating a reduction in concerns about market volatility.

Nifty Outlook Today

"On a day when the index convincingly breached a two-month resistance barrier and extended its rally into a seventh straight session, the price structure paints a powerful bullish picture. For bulls to maintain their dominance, a strong close above the 24,000 level is key. Simultaneously, safeguarding the recently reclaimed support zone of 23,600-23,500 will be critical for maintaining the bullish framework. The formation of a strong-bodied candle, closing near the day's high and backed by aggressive put writing, reinforces the positive setup. As long as the index holds above 23,500, sentiment remains tilted in favour of buyers. A breakout beyond the 24,000-24,100 resistance belt could ignite the next leg of the rally, while a sustained dip below 23,500 might invite short-term profit-taking toward 23,300," said Dhupesh Dhameja, Derivatives Research Analyst, SAMCO Securities.

Bank Nifty Outlook Today

"The confluence of major banking names breaking out to new highs and the index itself closing near its record peak signals a powerful trend continuation. The ongoing streak of higher closes and consistent higher high formations highlight strong underlying momentum. To cement bullish control, a convincing move above 54,500 is crucial. At the same time, defending the recently reclaimed support of 53,800-53,700 will be essential to preserve the positive bias. A strong bullish candle near the day's high, supported by active put writing, further enhances the case for continued upside. As long as the index holds above 53,700, the broader setup remains constructive. A breakout above 54,500 could unlock the next leg of the rally, while a failure to sustain could prompt some profit booking, dragging the index back toward 53,000," commented Dhupesh Dhameja.

Stocks To Buy Today

Choice Broking's executive director, Sumeet Bagadia, advised purchasing two stocks on Monday, April 21 following the Nifty's breakout over the prior resistance level of 23,870.

United Breweries

Buy UBL in Cash @ Rs 2147.40, Stop-loss @ 2072, Target @ 2298

UBL is currently trading at the levels of 2147.4, the stock has exhibited a strong bullish momentum in recent sessions, with the price surging past its recent consolidation range. The stock has shown a breakout-like movement, registering a sharp uptick on increasing volume, indicating renewed buying interest.

The stock has taken a strong support from its all EMA levels (20 Days, 50 Days, 100 Days & 200 Days EMAs) also indicate a positive alignment, the current price is trading well above all these averages, reinforcing the strength of the ongoing upward movement. The stock has now approached a near-term resistance at 2190, which also marks a recent swing high. If this level is decisively breached, the stock could move toward further upside targets of 2298.

On the downside, immediate support is located at 2100. The Relative Strength Index (RSI) is currently at 70.06 and trending upward, reflecting growing buying momentum. To manage risk effectively, a stop-loss at 2072 is suggested to guard against any unexpected market reversals.

In conclusion, based on the technical analysis and current market conditions, UBL presents a promising buying opportunity for those aiming for a 2298 target, provided that appropriate risk management strategies are in place.

Indus Towers

Buy INDUSTOWER in Cash @ Rs 397.90, Stop-loss @ 383, Target @ 426

INDUSTOWER is currently trading at ₹397.90, exhibiting strong bullish momentum. The stock has rebounded decisively from lower levels, forming a classic higher high-higher low structure along with a rounding bottom pattern ,both of which are strong indicators of a continued uptrend.

A robust bullish candlestick on the daily chart further validates this positive price action.The recent breakout above a key resistance level at ₹391 strengthens the bullish sentiment, suggesting the potential for a continued upward move toward the near-term target of ₹426, provided the momentum persists.

Technically, INDUSTOWER is trading well above its 20-day, 50-day, and 200-day Exponential Moving Averages (EMAs), affirming the strength of the ongoing trend. The Relative Strength Index (RSI) is currently at 75.79 and rising, signaling increasing buying pressure and active market participation.

On the downside, immediate support is seen at ₹391, with a recommended stop-loss at ₹383 to safeguard against any short-term pullbacks. Given the favorable chart structure, positive breakout, and strengthening indicators, traders may consider initiating long positions at the current market price of ₹397.90, targeting ₹426, while adhering to disciplined risk management strategies.

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.