Intraday Stocks To Buy Today, April 9: Top Picks By Sumeet Bagadia For Profitable Trading On Wednesday

Nifty Bank ended the session on Tuesday at 50,511, submitting a 1.31% gain as it carried out a rebound from the previous day's sharp decline, displaying a positive outlook in the daily chart. In contrast, bulls made a remarkable recovery on the previous session, partially regaining lost ground with a sharp gain of 1.69% or 374.25 points, ending the session at 22,535.85. Following its sharp rise in the previous session, the India VIX, the market's fear measurement, fell 10.31% to 20.44, indicating a modest decrease in traders' concern. This volatility decline could not last long, though, as anxiety may be rekindled by the RBI's next Monetary Policy Meeting on April 9.

Nifty Outlook Today

"While the index delivered a solid rebound and reclaimed prior support, the cloud of global uncertainty and rising FPIs short exposure in the futures segment continues to weigh on sentiment. Technically, Nifty formed a Doji candle near its previous swing high, reinforcing the range-bound structure between 22,300-22,800. A bullish divergence is developing on the daily chart, but until the index convincingly crosses 22,800, upside momentum remains capped. The zone between 22,300 and 22,200 has now turned into a reliable demand belt, supported by strong put writing. Meanwhile, the 22,700-22,800 area continues to act as the immediate resistance zone-strengthened by high call open interest and historical supply. A decisive breakout above 22,800 is needed for bulls to take full charge, while 22,300 serves as the immediate cushion for any downside move," said Dhupesh Dhameja, Derivatives Research Analyst, SAMCO Securities.

Bank Nifty Outlook

"The sharp rebound above the previous day's high and key moving averages reflects an encouraging setup for the bulls, but caution persists due to global headwinds and sustained short positions by FPIs in the futures market. Technically, the index is nearing its crucial resistance band of 50,800-51,000, which coincides with the 10-day EMA and continues to witness heavy call writing-acting as a strong hurdle. Support lies in the 50,000-50,300 region, now a meaningful demand zone, backed by robust put OI. On the other hand, the 50,800-51,000 range will remain a decisive supply belt unless convincingly breached. Until Nifty Bank conquers the 51,000 mark with strength, the upside will stay restricted. Meanwhile, 50,000 will be the key level acting as a safety net for the bulls," commented Dhupesh Dhameja.

Stocks To Buy Today

Choice Broking executive director Sumeet Bagadia recommended purchasing two stocks on Wednesday, April 9, in light of tariff-related worries and the possibility of rising volatility due to the conclusion of the MPC's monetary policy meeting.

Indus Towers

Buy INDUSTOWER in Cash @ Rs 370.65, Stop-loss @ 357, Target @ 397

INDUSTOWER is currently trading at ₹370.65, demonstrating strong upward momentum. The stock has rebounded decisively from lower levels, forming a higher high-higher low structure, which is indicative of a continued bullish trend. A robust bullish candlestick pattern further confirms the underlying strength. The recent breakout above the key resistance level of ₹367 adds to the positive sentiment, opening the path for a potential move toward the near-term target of ₹397-provided the current momentum is sustained.

From a technical standpoint, INDUSTOWER is trading comfortably above its 20-day, 50-day, and 200-day Exponential Moving Averages (EMAs), reinforcing the bullish outlook. The Relative Strength Index (RSI) stands at 65.44 and is trending higher, reflecting growing buying strength and market participation.

On the downside, immediate support is identified at ₹363, with a suggested stop-loss at ₹357 to protect against any potential pullbacks.Given the favorable technical setup, strong price structure, and positive momentum indicators, INDUSTOWER presents a compelling buying opportunity. Traders may consider initiating long positions at the current level of ₹370.65, aiming for a target of ₹397, while maintaining disciplined risk management practices.

Pidilite Industries

Buy PIDILITIND in Cash @ Rs 2930.95, Stop-loss @ 2828, Target @ 3136

PIDILITIND is currently trading at ₹2,930.95, showing signs of renewed strength after rebounding from lower levels. A bullish candlestick pattern has formed on the daily chart, signaling potential continuation of the upward trend. The stock maintains a higher high-higher low structure, which affirms its strong long-term bullish trajectory. This positive sentiment is further supported by rising trading volumes, reflecting robust buying interest from market participants. A breakout above the key resistance level of ₹3,000 could act as a significant trigger for further upside, potentially propelling the stock toward the short-term target of ₹3,136.

Technically, PIDILITIND is trading well above its 20-day, 50-day, and 200-day Exponential Moving Averages (EMAs), reinforcing the stock's positive momentum. The Relative Strength Index (RSI) is at 65.56 and continues to trend higher, suggesting growing buying momentum and favorable market conditions. On the downside, immediate support is placed at ₹2,880, while a stop-loss at ₹2,828 is recommended to manage risk in case of any adverse price action.

With a favorable technical structure, strong volume participation, and bullish indicators, PIDILITIND offers a promising buying opportunity. Traders may consider entering positions on a confirmed breakout above ₹3,000, aiming for a target of ₹3,136, while strictly adhering to disciplined risk management practices.

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.