Intraday Stocks To Buy Today, May 19: Top Picks By Sumeet Bagadia For Profitable Trading On Monday

The Nifty concluded Friday's trading session at 25,019.80, down 0.17%, while the index rose 4.21% on a weekly basis, indicating the optimistic undertone reinforced by sectoral gains overall. In contrast, Nifty Bank had a robust 3.28% surge and formed a bullish candle on the weekly chart as it closed the week at 55,354.90, finishing almost flat. The India VIX closed at 16.55, down 2.03%. A steep weekly drop of more than 23.55% indicates that market concern is subsiding. With a number of well-known firms, including ONGC, ITC, Hindalco, JSW Steel, and Power Grid, scheduled to release their quarterly results, the market's attention is anticipated to move towards domestic earnings.

With the last trading sessions seeing a modest increase in FPI inflows, the stock market saw a wave of volatility. Foreign institutional investors (FIIs) purchased domestic stocks last week for a total of Rs 15,925.41 crore, while foreign portfolio investors (FPIs) have invested Rs 18,620 crore so far in May. Foreign investors continue to have a watchful perspective of Indian markets despite the previous sessions being characterized by uncertainty, subdued sentiments, declining currency trends, and inflationary pressure.

Nifty Outlook Today

"With the index consistently closing above key short-term moving averages, sentiment continues to lean positively. The addition of aggressive put writing at lower levels only reinforces the bullish narrative. Going forward, the level to watch is 25,150 - a breakout above which could drive the index toward 25,500. On the downside, as long as 24,800 is intact, any dip should be treated as a buying opportunity. Even a fall toward 24,500 could present an ideal entry point for long positions. At present, the bulls are firmly steering the market," said Dhupesh Dhameja, Derivatives Research Analyst, SAMCO Securities.

Bank Nifty Outlook Today

"Despite a directionless session, Nifty Bank has managed to retain its bullish structure, with price action still holding near breakout territory. The overall sentiment has shifted positively, supported by sustained put writing at lower levels and a firm close above its short-term moving averages. Going forward, the 55,500 level remains the immediate breakout trigger. If the index sustains above this zone, a swift rally toward 56,100 cannot be ruled out. On the other hand, any pullback below 55,000 may be shallow and seen as a fresh opportunity to initiate long positions especially around the 54,500 region, which has now emerged as a solid support base. For now, the bulls seem firmly in command, quietly building momentum for the next directional move," commented Dhupesh Dhameja.

Stocks To Buy Today

Sumeet Bagadia, executive director of Choice Broking, recommended buying two stocks on Monday, May 19, following the roughly 23% drop in the India VIX during the previous week. The VIX is currently at 16.55, and a further decline below 15 might serve as a trigger for a further rally in the market as volatility subsides.

BEML

Buy BEML in cash @ Rs 3654, Stop-loss: Rs 3533, Target: Rs 3900

BEML is currently trading at 3654. The rally was backed by strong volumes and a sharp bullish candle, the stock is suggesting aggressive accumulation at lower levels the stock has decisively closed above near its 200-EMA.The counter which has been kept the stock largely sideways for over a month near the ₹3,100-3,300 zone, marking a decisive breakout from a prolonged consolidation phase. The price action shows a clear breakout and today's surge confirms that the base formation is now complete. Underscores renewed investor confidence and robust momentum in the stock

On the weekly chart the stock is also breaking out of a falling channel. This multi-timeframe confirmation adds further credibility to the bullish case.

Furthermore, BEML is currently trading above its crucial 20-day, 50-day, and 100-day Exponential Moving Average (EMA) levels, reinforcing the bullish trend. Given the overall chart pattern, the analysis suggests a favourable long trading opportunity for investors.
Based on the above analysis we recommend buying BEML in cash at CMP of 3654 for the target of 3900 with a stop loss of 3533.

Kitex Garments

Buy KITEX in Cash @ Rs 276, Stop-loss @ Rs 266, Target @ Rs 295

KITEX, is currently trading at 276, exhibits a near retest of recent swing highs and signals bullish continuation following a brief consolidation on the daily chart, supported by its consistent position above key exponential moving averages (EMAs). Recent price action indicates 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, KITEX could reach a short-term target of 295.

On the downside, immediate support is located at 270. The Relative Strength Index (RSI) is currently at 67.45 and trending upward, reflecting growing buying momentum. To manage risk effectively, a stop-loss at 266 is suggested to guard against any unexpected market reversals.

In conclusion, based on the technical analysis and current market conditions, KITEX presents a promising buying opportunity for those aiming for a 295 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.