Intraday Stocks To Buy Today, June 10: Top Picks By Sumeet Bagadia For Profitable Trading On Tuesday

The previous session saw the Nifty close at 25,103.20, up 0.40% and recording its third straight bullish close. Modest profit booking was identified at higher levels by the intraday high of 25,160.10 and a closing that was just below the VWAP (25,113). On the other hand, Nifty Bank gained 0.46% and reached a new record high of 57,049.50. The index continues to maintain above all significant moving averages, indicating that even if the intraday session was quiet, the broader view is still robust. The India VIX had a modest rise, closing at 14.69 after increasing by 0.43%. The small rise nonetheless points to muted volatility and a waning of market panic, which is usually a positive indication that points to rising investor confidence and a possible upswing persistence.

Nifty Outlook Today

"While Nifty did witness some intraday profit booking, it remained well above its recent breakout levels-highlighting continued bullish interest. The unfilled gap created today will act as a strong support in the sessions ahead. With RSI favouring the bulls and the price holding firm above its moving averages, the broader sentiment remains constructive. The ongoing short covering and the shift of resistance into support zones further solidify the positive undertone. As long as the index sustains above 24,875, dips remain buying opportunities. A breakout above 25,150 may trigger another round of short covering, paving the way for a move toward 25,300-25,350 levels," commented Dhuhpesh Dhameja, Derivatives Research Analyst, SAMCO Securities.

Bank Nifty Outlook Today

"Despite hitting a new record high, Nifty Bank witnessed some mild profit booking from higher levels. Nevertheless, the index held firmly above its breakout zone, supported by strong RSI readings and alignment above key moving averages. The unfilled gap from the day's open adds another layer of support going forward. With the index hovering near its resistance zone, short-term consolidation is possible, but the broader trend remains constructive. As long as the index holds above 56,500, the outlook remains positive. A follow-through move above 57,100 could prompt a round of short covering, potentially lifting the index toward the 57,500-57,700 range," stated Dhuhpesh Dhameja.

Stocks To Buy Today

On Tuesday, June 10, Choice Broking's executive director, Sumeet Bagadia, recommended buying two stocks after the Nifty was able to maintain its hold above the psychologically significant 25,000 mark.

Sundaram Finance Holdings

Buy SUNDARMHLD in Cash @ Rs 414, Stop-loss @ Rs 400, Target @ Rs 444

SUNDARMHLD, is currently trading at 414 has shown a remarkable breakout in recent sessions, surging to a fresh multi-month high of ₹415 on the daily chart, supported by its consistent position above key exponential moving averages (EMAs). Recent price action indicates the stock gradually moved higher, forming higher highs and higher lows-a classic sign of a bullish reversal., with the stock maintaining levels near the 20-Day EMA.

The reclaim of the 20-day EMA is especially noteworthy, as it often signifies a shift from bearish to bullish sentiment. This technical alignment suggests the potential beginning of a medium- to long-term uptrend. If this trend continues, SUNDARMHLD could reach a short-term target of 444.

On the downside, immediate support is located at 400. The Relative Strength Index (RSI) is currently at 75.03 and trending upward, reflecting growing buying momentum. To manage risk effectively, a stop-loss at 400 is suggested to guard against any unexpected market reversals.

In conclusion, based on the technical analysis and current market conditions, SUNDARMHLD presents a promising buying opportunity for those aiming for a 444 target, provided that appropriate risk management strategies are in place.

Zaggle Prepaid Ocean Services

Buy ZAGGLE in cash @ Rs 460.15, Stop-loss: Rs 444, Target: Rs 490

ZAGGLE is currently trading at ₹460.15 has delivered a strong bullish momentum on the daily chart, reflecting renewed investor interest and buying momentum. Technically, ZAGGLE forming a strong bullish engulfing pattern on the daily chart. The price structure indicates strong institutional interest and suggests further upside potential in the coming sessions.

If the stock sustains above ₹465, it could see immediate resistance near ₹490-500 levels. On the downside, support now shifts to the ₹450-444 zone. Long-term investors can also hold with a bullish bias, as the structure remains healthy and consistent buying interest has returned after a brief consolidation.

Furthermore, ZAGGLE is trading above key Exponential Moving Averages (EMAs), including the 20-day, 50-day, 100-day, and 200-day EMAs. This suggests a strong bullish momentum, indicating the potential for continued upward price action. The Relative Strength Index (RSI) stands at 70.21, signalling an upward trajectory and confirming an increase in buying momentum.

In summary, considering the technical analysis and prevailing market conditions, ZAGGLE appears to present a promising buying opportunity for those targeting a ₹490 price objective, contingent upon the implementation of prudent risk management measures.

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.