Stocks To Buy Today: Intraday BUY/SELL Calls By Sumeet Bagadia On Thursday, 27th March

Wednesday saw a halt of the bullish trend in the Indian stock market following a 5.7% rally in the last 7 sessions. The Sensex and Nifty both fell into negative territory, with the Nifty50 dropping 182 points (0.8%) to close at 23,487. Meanwhile, the Bank Nifty index began the day higher but experienced significant profit booking after an initial upswing, ending the day lower at 51,209. The Nifty midcap and small cap indices ended the day down by 0.8% and 1.2%, respectively, on the broader market front. Media, PSU, real estate, banking, and pharmaceuticals are the sectors that have fallen the most. A drop in market volatility was indicated by the India VIX volatility index, which calmed by 1.21% to 13.47. Global market volatility has spiked as investors have waited for clarity on possible U.S. tariffs to be announced on April 2. This is in contrast to the March derivatives contract expiry, which has affected market sentiment.

Nifty Outlook Today

"Technically, on the daily chart, Nifty formed a red candle, indicating weakness. Moreover, the index has broken its 100-Days Simple Moving Average (100-DSMA), placed near 23,500, which will now serve as an immediate hurdle for Nifty, followed by 23,800. On the downside, 100-Days Exponential Moving Average (100-DEMA) support is placed near 23,390, while the 75-DEMA is positioned near 23,250, acting as key support levels for the index. Due to the F&O expiry, short-term volatility is expected, so traders are advised to remain cautious," said Hrishikesh Yedve, AVP Technical and Derivatives Research at Asit C. Mehta Investment Interrmediates Ltd. (A Pantomath Group Company).

Bank Nifty Outlook Today

"Technically, Bank Nifty formed a red candle on the daily chart, indicating weakness. On the downside, the 200-Days Simple Moving Average (200-DSMA), placed near 50,990, will act as key support for the index, followed by the recent breakout point of 50,640. On the upside, 51,880 and 52,000 will act as strong resistance levels. Traders should monitor these levels for potential trading opportunities," commented Hrishikesh Yedve.

Stocks To Buy Today

Choice Broking's executive director, Sumeet Bagadia, suggested buying two stocks on Thursday, March 27, in advance of this week's US-India trade meeting.

Anup Engineering

Buy ANUP in cash @ Rs 3363.9, Stop-loss: Rs 3250, Target: Rs 3600

ANUP is currently trading at Rs 33639. After a period of small falls and sideways consolidation, the stock has lately broken the neckline levels of Rs 3300 and is rising quickly on the upside with substantial volume... There are expectations of further upward movement, potentially reaching Rs 3600 levels. On the downside, substantial support is evident near Rs 3250.

Furthermore, ANUP 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 63.21, signalling an upward trajectory and confirming an increase in buying momentum.

To manage risk effectively, it is advisable to set a stop-loss (SL) at Rs 3250 to protect the investment in case of an unexpected market reversal.

In summary, considering the technical analysis and prevailing market conditions, ANUP appears to present a promising buying opportunity for those targeting a Rs 3600 price objective, contingent upon the implementation of prudent risk management measures.

Bharti Hexacom

Buy BHARTIHEXA in cash @ Rs 1474.9, Stop-loss: Rs 1420, Target: Rs 1575

BHARTIHEXA showcases a strong bullish momentum, evident from a substantial upward movement and a significant closing around Rs 1474.9. The stock has been experiencing robust buying interest, the stock has shown consistent higher highs and higher lows, a classic pattern of a strong uptrend. Notably, the trading volume during upward price movements has been substantial, reinforcing the strength of the rally. In recent sessions, BHARTIHEXA is getting stabilized and moving towards its swing high target of Rs 1575, indicating consolidation and a potential setup for another breakout.

Key technical indicators, particularly the Relative Strength Index (RSI), emphasize the stock's positive momentum. The RSI not only signals positive trends but also aligns with the stock trading above crucial moving averages, including the 20-day, 50-day, and 200-day Exponential Moving Averages (EMA). This convergence underscores the sustained strength in BHARTIHEXA price action.

The trend remains bullish, with this upward price action also indicates strong interest and a potential continuation of the rally if the momentum sustains a bullish outlook for BHARTIHEXA. Traders and investors may find this analysis indicative of potential continued upward momentum in the stock.

Based on the above analysis we recommend buying BHARTIHEXA in cash at CMP of 1474.9 for the target of 1575 with a stop loss of 1420.

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.