Intraday Stocks To Buy Today, June 26: Top Picks By Sumeet Bagadia For Profitable Trading On Thursday

Following a few days of range-bound trading, the Nifty made an enormous surge, closing at 25,244.75, up 200.40 points or 0.80%. Nifty Bank continued its recovery by adhering to the rising channel bounds, closing the day at 56,621.15, up 0.28%. India VIX ended the session at 12.96 after a steep 4.98% fall. The VIX's steady decline and its placement below the 15-point threshold indicate a cool and calm approach in the market as a whole. A positive continuation is usually supported by this backdrop of persistently low volatility, which signals growing investor confidence and reducing worry.

Nifty Outlook Today

"The Nifty index remains resilient and is trading near a critical breakout zone, with a sustained move above 25,300 required to confirm a decisive upside breakout. The formation of higher lows, coupled with consistent buying on dips, highlights strong underlying momentum. Technically, continued support from the 10-DEMA and 20-DEMA adds conviction to the bullish setup, while the Relative Strength Index (RSI) moving above 60 confirms strengthening momentum," said Dhupesh Dhameja, Derivatives Research Analyst, SAMCO Securities.

In absence of any notable negative triggers and with volatility subdued, the outlook remains favorable for a "buy-on-dips" approach. A breakout above the 25,300 level could result in swift short-covering and potentially drive the index toward the 25,450-25,500 zone. As long as the index holds above the 24,700 mark, the bullish undertone is likely to persist," added Dhupesh Dhameja.

Bank Nifty Outlook Today

"Nifty Bank continues to exhibit strength by consistently holding above its support levels despite intraday volatility. A breakout above the immediate resistance zone of 56,800-57,000 remains vital for validating a fresh bullish phase. Structurally, the index maintains higher low formations and demonstrates strong buying interest during dips, reinforcing the positive setup," Dhupesh Dhameja stated.

"Support from both the 10-DEMA and 20-DEMA remains intact, while the Relative Strength Index (RSI) crossing above 60 further underscores growing upward momentum. With no clear signs of bearish reversal and volatility subdued, the overall environment continues to favor a "buy on dips" strategy. As long as the index stays above the crucial 55,800 mark, downside is expected to remain limited. A confirmed breakout above 57,000 could spark short-covering and drive the index toward the 57,700-57,800 region in the sessions ahead," Dhupesh Dhameja further added.

Stocks To Buy Today

On Thursday, June 26, Sumeet Bagadia, executive director of Choice Broking, recommended buying two stocks following the Nifty index sustained above 25,200 position and the India VIX's precipitous 5% drop to 12.96, which calmed short-term volatility worries while giving a positive outlook.

Wipro

Buy WIPRO in Cash @ Rs 269.40, stop-loss: Rs 260, Target @ Rs 290

WIPRO is currently trading at ₹269.40 and is demonstrating strong bullish momentum, supported by a steadily rising price structure and consistent higher swing formations. On the daily chart, the stock has formed a bullish candlestick and is on the verge of breaking out from a recent consolidation phase.

A decisive close above the key resistance level of ₹270 would validate this breakout and signal the continuation of the current uptrend. All major Exponential Moving Averages (20, 50, 100, and 200-day) are trending upward, and the stock is trading comfortably above these levels. This alignment of moving averages further reinforces the bullish sentiment and underlines the strength of the ongoing rally, which could potentially lead to a swift move towards the short-term target of ₹290.

The Relative Strength Index (RSI) currently stands at 69.52 and is trending higher, indicating increasing buying strength and positive momentum. On the downside, immediate support is seen at ₹265. A stop-loss at ₹260 is recommended to manage downside risk in case of an unexpected pullback.

In conclusion, the current technical setup suggests a favorable risk-reward opportunity in WIPRO. Traders may consider entering a long position at current levels, with a short-term target of ₹290. A breakout above ₹270, backed by strong volume, would provide further confirmation of bullish strength.

Titan Company

Buy TITAN in Cash @ Rs 3652.20, Stop-loss@ Rs 3520, Target @ Rs 3920

TITAN is currently trading at ₹3652.20 and is maintaining a strong upward trajectory. The stock has formed a classic cup and handle pattern, typically indicative of a sustained bullish reversal. It recently closed above the key resistance level of ₹3600 and is now approaching a crucial breakout zone near ₹3667. A sustained move above this level would confirm the breakout and could trigger an upward rally towards the short-term target of ₹3920.

All major Exponential Moving Averages (20, 50, 100, and 200-day) are sloping upwards, and the price is trading comfortably above these levels-further confirming bullish strength. Additionally, the Relative Strength Index (RSI) is at 65.95 and rising, signaling growing buying momentum.

On the downside, immediate support is seen at ₹3600, and a stop-loss at ₹3520 is recommended to manage risk effectively. In conclusion, TITAN offers a promising technical setup for traders. A confirmed breakout above ₹3667 can lead to a swift price move toward ₹3920. Traders are advised to wait for a breakout confirmation and follow disciplined risk management with the suggested stop-loss.

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.