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

Over the course of the previous week, the market showed a mixed tilt with Supported by this strong rebound, Nifty concluded the previous session at 24,853.15 with a remarkable gain of 0.99%, or 243.45 points, while Nifty Bank wisely recovered to finish at 55,398.25 with a solid gain of 0.83%, or 456.95 points. The publication of India's April industrial and manufacturing production data, which is set for May 28, as well as the Q1 GDP growth numbers, will be watched by market players in the week. On the other hand, market observers will be keenly monitoring developments in rising U.S. bond yields, the FOMC minutes, and the status of the India-U.S. trade negotiations, all of which might affect market mood amid the last phase of the Q4 earnings season.

Nifty Outlook Today

"The index has delivered a much-needed bounce from the lower band, crossing above its previous high for the first time in five sessions. Bulls appear to have tightened their grip, reloading long bets on every meaningful dip. The 20-DEMA around 24,500 has emerged as a stronghold, and as long as the index holds above this, the bullish case stays intact. Structurally, Nifty remains in a higher high, higher low pattern, and this strong weekly close reaffirms the possibility of a bullish resurgence. That said, unless the 25,000 resistance is conquered with vigour, bulls may continue to face headwinds. A decisive breach below 24,500, on the other hand, would invite meaningful selling pressure. Overall, the street's undertone remains hopeful-with each dip attracting buyers rather than genuine selling. The setup favours a cautious bull, ready to strike on weakness but wary of resistance overhead," commented Dhupesh Dhameja, Derivatives Research Analyst, SAMCO Securities.

Bank Nifty Outlook Today

"Nifty Bank's recovery from the lower zones was a breath of fresh air, especially with the appearance of a reversal pattern on intraday charts. Bulls look to be in a dominant mood, utilizing every dip to reload their long trades. The unfilled gap zone continues to offer support, and the 20-DEMA near 54,500 is now a firm cushion for any short-term corrections. The index is maintaining strength above key chart structures, preserving its bullish formation. That said, until the 55,500 resistance is convincingly taken out, bulls may continue to hit some roadblocks. A breach of the 54,500 zone, on the other hand, would likely invite some supply-side pressure. Broadly speaking, market sentiment remains optimistic, with buyers stepping in at every drop. The mood on the Street suggests traders are leaning toward strength, as corrections appear to be opportunities rather than warnings," stated Dhupesh Dhameja.

Stocks To Buy Today

Choice Broking's executive director, Sumeet Bagadia, suggested buying two stocks on Monday, May 26, after the India VIX slightly increased by 0.12% to 17.27, but hovering over the safe level of 15, signaling underlying concern.

Tata Steel

Buy TATASTEEL in Cash @ Rs 162.97, Stop-loss @ Rs 157, Target @ Rs 176

TATASTEEL is currently is trading at the levels of 162.97, exhibiting a robust uptrend following a strong reversal from its recent lows. The stock has staged a sharp recovery and broken above previous resistance zones, supported by strong price action and increasing volumes. This upside move marks a breakout from the consolidation range seen over the past few months.

The price structure now indicates the formation of a higher high and higher low pattern, affirming a bullish reversal. From a moving average perspective, the stock is now trading above all key exponential moving averages, including the 20-day, 50-day, 100-day, and 200-day EMAs. This alignment of EMAs provides further confirmation of a well-supported upward trend. Immediate resistance is placed near 167 levels; if it manages to surpass these levels, then it can achieve a short term target of 176.

On the downside, immediate support is located at 160. The Relative Strength Index (RSI) is currently at 72.40 and trending upward, reflecting growing buying momentum. To manage risk effectively, a stop-loss at 157 is suggested to guard against any unexpected market reversals.

In conclusion, based on the technical analysis and current market conditions, TATASTEEL presents a promising buying opportunity for those aiming for a 176 target, provided that appropriate risk management strategies are in place.

BPCL

Buy BPCL in Cash @ Rs 318.9, Stop-loss @ Rs 307, Target @ Rs 341

BPCL is currently trading at ₹318.90, having recently bounced back from a key support zone and formed a bullish candlestick pattern on the daily chart. The stock is now approaching the upper boundary of its consolidation range between ₹308 and ₹322. A sustained breakout above ₹322 would confirm the reversal and could trigger further upside momentum.

This potential breakout is supported by rising trading volumes, signaling increased buying interest from market participants. The Relative Strength Index (RSI) stands at 60.57, indicating strong bullish momentum with room for continued upward movement. Moreover, BPCL is trading above its 20-day, 50-day, and 200-day Exponential Moving Averages (EMAs), reinforcing the prevailing bullish trend.

Should the stock maintain levels above the critical resistance of ₹322, it may present an attractive opportunity for long positions. Traders may consider entering at the current market price of ₹318.90, with a stop-loss at ₹307 to effectively manage downside risk, and a near-term target of ₹341. While the technical outlook is strong, traders should remain cautious of short-term volatility and follow disciplined risk management practices for optimal trade execution.

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.