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

While Nifty Bank completed the day at 55,760.85, up 0.15%, continuing to trade inside a narrow range that has lasted for several weeks, Nifty concluded the previous session at 24,750.90, up 0.53%, following a strong intraday recovery from lower levels. The Nifty50 and Sensex, two key Indian indices, broke a two-week losing run and reported weekly gains of around 1%. The Sensex gained 738 points to close at 82,189, while the Nifty gained 252 points, ending barely above the psychologically significant 25,000 level.

After reaching a new all-time high of 56,695, the Bank Nifty outperformed, advancing 1.5% to close at 56,578.40, extending its winning run to four weeks in a row. The India VIX further weakened, falling 4.21% to 15.08, or roughly 12% for the previous three sessions. Reduced market uncertainty and maybe the first indications of a change in mood toward risk-on are indicated by this cooling off in volatility. Market players will be keenly monitoring fluctuations in U.S. bond yields and CPI inflation amid a variety of global cues, including continued trade tensions and the uncertainty concerning tariff discussions.

Nifty Outlook Today

"Nifty has delivered a strong confluence of breakouts, backed by bullish signals on the RSI and a reclaiming of all key moving averages. The unwinding of significant short positions and the conversion of resistance into support has further bolstered the bullish narrative. As long as the index sustains above 24,875, the approach remains firmly 'buy-on-dips'. A follow-through above 25,100 could ignite another round of short covering, potentially pushing the index toward 25,300-25,350 levels. The index VIX declined nearly 9% over the week, retreating to the 14 mark, further reinforcing optimism for a continued uptrend," said Dhupesh Dhameja, Derivatives Research Analyst, SAMCO Securities.

Bank Nifty Outlook Today

"Nifty Bank has entered record territory with renewed enthusiasm, successfully breaking out of its prolonged consolidation and reaffirming its bullish structure. The ongoing higher-high and higher-low formation, combined with visible unwinding of short positions, has turned resistance levels into support zones. All factors points toward sustained bullish momentum. A confirmed move above 56,700 could trigger further short-covering, potentially pushing the index toward the 57,200 mark. The RBI's bold monetary policy actions have injected fresh liquidity into the system, enhancing sentiment across the banking space. As long as the index maintains support above 56,130, the market structure favors continued upside, and dips should be seen as healthy pullbacks-offering buying opportunities in a structurally strong trend," commented Dhupesh Dhameja.

Stocks To Buy Today

Choice Broking's executive director, Sumeet Bagadia, recommended buying two stocks on Monday, June 9 following the RBI's unexpected 50 basis point rate cut, which gave the Nifty a significant liquidity boost and strengthened its upward trend.

Info Edge (India)

Buy NAUKRI in Cash @ Rs 1507, stop-loss @ Rs 1450, Target @ Rs 1630

NAUKRI is currently trading at 1507 and has recently broken out from a well-defined consolidation zone that had persisted for several weeks. This breakout on the daily chart signifies a potential transition from a sideways trend to an upward trajectory, supported by notable price expansion and a rise in trading volumes. The stock has successfully surpassed key intermediate resistance levels, positioning it for further upside.

It has also taken strong support from major exponential moving averages and is currently trading above its 20-day, 50-day, 100-day, and 200-day EMAs, all of which are gradually aligning with a positive slope. This alignment of upward-trending moving averages across multiple timeframes highlights a strengthening price structure and suggests improving investor sentiment.

It reflects growing accumulation interest, often associated with institutional buying activity, and reinforces the probability of sustained bullish momentum. From a technical standpoint, the next immediate resistance is placed near 1525. A decisive breakout above this level could open the path for a short-term rally towards the 1630 mark, provided the current momentum continues.

On the downside, immediate support is located at 1475. The Relative Strength Index (RSI) is currently at 60.22 and trending upward, reflecting growing buying momentum. To manage risk effectively, a stop-loss at 1450 is suggested to guard against any unexpected market reversals.

In conclusion, based on the technical analysis and current market conditions, OBEROIRLTY presents a promising buying opportunity for those aiming for a 1630 target, provided that appropriate risk management strategies are in place.

Oberoi Realty

Buy OBEROIRLTY in Cash @ Rs 1908.2, stop-loss@ Rs 1800, Target @ Rs 2095

OBEROIRLTY is currently trading at the levels of 1908.2 and has recently delivered a strong breakout from a prolonged consolidation phase on the daily chart. This breakout is accompanied by a sharp price surge and healthy volume expansion, reflecting robust buying interest. The breakout marks a decisive shift in trend, suggesting the beginning of a fresh upward leg.

The stock is comfortably trading above all key exponential moving averages including the 20-day, 50-day, 100-day, and 200-day EMAs. These moving averages are positively aligned and rising, indicating strength in the current trend and confirming bullish momentum across short to long-term timeframes. With the stock clearing multiple intermediate resistances, the next resistance is expected near 1936, if it manages to close above this level then it can achieve a short term target of 2095.

On the downside, immediate support is located at 1850. The Relative Strength Index (RSI) is currently at 73.14 and trending upward, reflecting growing buying momentum. To manage risk effectively, a stop-loss at 1800 is suggested to guard against any unexpected market reversals.

In conclusion, based on the technical analysis and current market conditions, OBEROIRLTY presents a promising buying opportunity for those aiming for a 2095 target, provided that appropriate risk management strategies are in place.

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.