Intraday Stocks To Buy Today, July 31: Top Picks By Sumeet Bagadia For Profitable Trading On Thursday

While Nifty Bank completed the previous day at 56,150.70, down 0.13%, continuing its weakness a day after the relief rally, Nifty concluded the day at 24,855.05, up 0.14%, continuing its modest rebound for a second day in a row. The India VIX fell 2.78% to close at 11.20, which is far below the 13 psychological threshold. A range-bound setting rather than a breakdown scenario is further supported by this muted volatility environment, which implies that although intraday profit booking is occurring, there is not much indication of panic or broad liquidation. The market is expected to stay volatile ahead of key U.S. macro data, such as the Fed rate decision, the Nonfarm employment report, and the Q2 GDP estimates, notably the U.S. imposed a 25% general tariff on Indian imports that will go into force on August 1, 2025, which will further influence market direction.

Nifty Outlook Today

"With the monthly expiry and FOMC meeting on the horizon, the Nifty appears locked in a consolidation phase with muted momentum. Although a potential bullish reversal candle has formed, the confirmation is still awaited. The 24,500-24,550 range will remain a critical short-term support zone, while a conclusive move above 24,900 is needed to unleash sustained upward momentum. For now, the index trades beneath a heavy resistance cluster around the 25,000 level, which also acts as a psychological hurdle," said Dhupesh Dhameja, Derivatives Research Analyst, SAMCO Securities.

"Until Nifty decisively reclaims this mark, the overall bias remains cautious, and any rally could invite fresh short positions instead of signalling a structural trend reversal. Given the major upcoming events, the index is likely to see sharp two-way swings, and traders are advised to adopt tactical, risk-managed strategies in the days ahead," the analyst further added.

Bank Nifty Outlook Today

"With the dual overhang of the FOMC policy announcement and monthly expiry, the Nifty Bank index has entered a phase of low conviction and range-bound movement. Although a bullish reversal candle has appeared on the chart, a follow-through is still awaited to validate a short-term turnaround. The 55,800-55,700 band will remain a key support region in the near term. A breakout above the 56,700 resistance zone is essential to establish a more confident uptrend. Until then, the index's inability to surpass the key moving average confluence around 56,500 will likely invite fresh selling at higher levels," Dhupesh Dhameja stated.

"Unless the Nifty Bank decisively moves and sustains above 56,700, the broader stance is expected to remain cautious, with market participants preferring to sell on rallies rather than betting on a sustained up-move. Considering the high-impact events ahead, the index is likely to see volatile swings in both directions. In such an environment, traders are advised to adopt disciplined, risk-managed strategies and stay light on aggressive directional bets," Dhupesh Dhameja further recommended.

Stocks To Buy Today

Following President Trump's recent announcement of a 25% tariff and penalties on Indian exports, Choice Broking's executive director Sumeet Bagadia recommended purchasing two stocks on Thursday, July 31.

Netweb Technologies India

Buy NETWEB in Cash @ Rs 2023, Stop-loss @ Rs 1952, Target @ Rs 2165

NETWEB is currently trading at ₹2023 and showing strong bullish momentum. The stock has recently given a breakout from a symmetrical triangle pattern and bounced from lower levels, indicating renewed buying interest. It has taken solid support at the 200-week Exponential Moving Average (EMA) on the weekly chart and continues to trade above its 20-day, 50-day, and 200-day EMAs. This alignment of moving averages across timeframes confirms a well-supported uptrend.

The recent breakout above the crucial resistance level of ₹2000, along with the formation of a bullish engulfing candlestick pattern, suggests a shift in market sentiment toward the positive side. If this momentum continues, the stock could move toward a near-term target of ₹2165. On the downside, immediate support is placed at ₹2000, while a stop-loss at ₹1952 is recommended to manage risk effectively.

The Relative Strength Index (RSI) is currently at 61.37 and trending upward, indicating strengthening momentum without entering the overbought zone.

In conclusion, NETWEB offers a technically strong setup for traders looking for short-term opportunities. With a favorable price structure and supportive technical indicators, entering at current levels with a target of ₹2165 and a stop-loss at ₹1952 could offer a good risk-reward trade.

PI Industries

Buy PIIND in Cash @ Rs 4324.20, Stop-loss @ Rs 4172, Target @ Rs 4627

PIIND is currently trading at ₹4324.20, having rebounded sharply from a key support level. The stock has formed a bullish candlestick pattern on the daily chart and broken out of a consolidation phase by surpassing the crucial resistance level of ₹4275. This breakout, accompanied by a significant rise in trading volumes, indicates a potential trend reversal and renewed buying interest.

Technically, the stock is trading well above its 20, 50, 100, and 200-day Exponential Moving Averages (EMAs), reflecting strength across both short- and long-term trends. The Relative Strength Index (RSI) is at 66.11 and trending upward, highlighting increasing bullish momentum while still leaving room before reaching overbought territory.

If PIIND manages to sustain above the immediate resistance at ₹4350, it could pave the way for a near-term rally toward ₹4627. Given the strong technical setup, traders may consider initiating long positions at current levels, with a stop-loss at ₹4172 to manage downside risk effectively.

In summary, PIIND offers a favorable technical structure supported by bullish price action, strong volume confirmation, and rising momentum indicators. While the outlook remains positive, traders should remain cautious of short-term volatility and follow strict risk management practices to ensure effective trade execution.

Disclaimer

The recommendations made above are by market analysts and are not advised by either the author, nor GoodReturns. The author, nor the brokerage firm nor GoodReturns 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.