Intraday Stocks To Buy Today, April 28: Top Picks By Sumeet Bagadia For Profitable Trading On Monday

The Nifty fell 0.86% to close the previous session at 24,039.35. On a weekly basis, the index climbed by 0.77% while remaining strong. In contrast, Nifty Bank ended the day with a 0.97% decline at 54,664.05, as geopolitical tensions between India and Pakistan-following a terrorist incident in Kashmir-remained heightened. The index had a 0.69% weekly surge. The Nifty index has experienced a significant drop in the last three weeks. The Index of Industrial Production (IIP) data and the HSBC Manufacturing PMI Final data are two events worth watching this week. On the other hand, the ongoing Q4 results season will provide data from BPCL, IOC, Kotak Mahindra Bank, SBI, Bajaj Finance, TVS Motor, UltraTech Cement, IRFC, IDBI Bank, Adani Green Energy, Adani Total Gas, Oberoi Realty, Trent, Ambuja Cements, Adani Power, Vedanta, and more.

Nifty Outlook Today

"The Nifty index has entered a consolidation-cum-caution phase after a steep rally, with recent price action engulfing gains from the previous four sessions. This pullback, however, seems more of a cool down than a reversal, offering a healthier setup for the next leg higher. As long as the index sustains above the 23,900-23,800 support band, the broader structure remains constructive. A sustained move above 24,300 would indicate a revival in momentum, potentially unlocking upside towards 24,500. Until then, the market is expected to trade in a range-bound manner. A breakout above the upper band could energize bulls, while a breakdown below key support may spark mild profit-taking toward 23,700. Given the recent vertical run-up, the current pause looks like a base-building phase before a decisive move emerges," said Dhupesh Dhameja, Derivatives Research Analyst, SAMCO Securities.

Bank Nifty Outlook Today

"The Nifty Bank index endured strong profit-booking pressure, slipping below its previous highs of the past three sessions-signaling a potential transition into consolidation after an overextended rally. This kind of pullback remains healthy and offers a cooling-off period before the next leg. For now, holding the 54,000-54,200 zone remains crucial to maintain a bullish setup. A decisive close above 55,500 would indicate a likely continuation of the broader rally, possibly opening the door to fresh highs. Until then, the index is expected to oscillate within the 54,000-55,500 range without a clear directional breakout. A breach below 54,000 could tilt short-term momentum toward the bears, dragging the index toward the 53,700 zone. For now, the market tone remains cautiously optimistic, with bulls defending their base while sellers test overhead supply," Dhupesh Dhameja commented.

Stocks To Buy Today

Sumeet Bagadia, executive director of Choice Broking, recommended buying two stocks on Monday, April 28, following the India VIX's 5.58% spike to 17.15, which indicated rising uncertainty.

Nuvama Wealth Management

Buy NUVAMA in Cash @ Rs 6244, Stop-loss @ 6000, Target @ 6700

NUVAMA, is currently trading at 6244, exhibits a a classic bullish reversal, 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.

Although it closed off its intraday highs, the stock maintained bullish momentum with good volume , a sign of underlying accumulation. 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, NUVAMA could reach a short-term target of 6700.

On the downside, immediate support is located at 6100. The Relative Strength Index (RSI) is currently at 62.03 and trending upward, reflecting growing buying momentum. To manage risk effectively, a stop-loss at 6000 is suggested to guard against any unexpected market reversals.

In conclusion, based on the technical analysis and current market conditions, NUVAMA presents a promising buying opportunity for those aiming for a 6700 target, provided that appropriate risk management strategies are in place.

UltraTech Cement

Buy ULTRACEMCO in cash @ Rs 12237, Stop-loss @ 11800, Target @ 13050

ULTRACEMCO is exhibiting strong bullish momentum, currently trading at an all-time high of 12304 levels. The recent breakout above the crucial multiple resistance at 12150 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, ULTRACEMCO 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 72.89 levels.

For traders, keeping an eye on the strong support near 11800 levels is advisable, as a breach of this level could signal a shift in sentiment. Overall, ULTRACEMCO 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 ULTRACEMCO and the CMP of 12237 with a stop loss of 11800 for the target of 13050.

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.