Stocks To Buy Today: Intraday BUY/SELL Calls By Sumeet Bagadia On Tuesday, 18th Feb

While Nifty Bank ended Monday's trading session at 49,258.90, up 0.32% (159.45 points), indicating a better technical outlook, Nifty ended the day at 22,959.50, edging up by 0.13% (30.25 points), indicating a steady improvement in technical mood. The India VIX, a measure of market anxiety, increased by 4.71% to 15.72, indicating a minor gain in ambiguity. Market sentiment is still cautiously volatile, indicating that huge swings may continue, as the VIX continues to hold over the crucial 15-mark.

Nifty Outlook Today

"On the daily chart, the index formed a robust bullish candle, signalling a potential pullback amid rising buying interest. Additionally, on lower timeframes, the index broke out of its base formation, indicating strength in intraday price action. RSI's positive divergence on the daily timeframe further validates a firm support zone, reinforcing the possibility of fresh buying on dips. The 22,800 level now serves as a crucial support zone, acting as the final shield against further downside. Meanwhile, the 23,150-23,200 region, which earlier provided strong buying support, has flipped into a major resistance area due to intensified call writing and the influence of key moving averages. A decisive breakout on either side is necessary to determine the market's next directional move," said Dhupesh Dhameja, Derivatives Analyst, SAMCO Securities.

Bank Nifty Outlook Today

"On the daily chart, a strong bullish candle emerged near the support zone, as multiple banking stocks witnessed a reversal from their lows, indicating that a pullback rally is in play. Additionally, on the lower time frame, the index broke out of its base formation, reinforcing a strong demand zone and suggesting that any dip in prices will likely attract fresh buying. The 48,500 level now acts as a critical support, serving as the last defence against further downside. Meanwhile, the 49,900-50,000 range, which previously provided a solid demand zone, has now flipped into a stiff resistance region, backed by aggressive call writing and key moving averages. A clear breakout on either side is necessary to determine the next directional move in upcoming sessions," commented Dhupesh Dhameja.

Stocks To Buy Today

On Tuesday, February 18th, Choice Broking executive director Sumeet Bagadia recommended investing in two stocks after the Nifty index displayed a bullish candle with a wide wick on the bottom, indicating a possible reversal formation and buying activity.

Jindal Drilling and Industries

Buy JINDRILL in Cash @ 886.85 SL @ 855 TGT @ 955

JINDRILL is demonstrating strong upward momentum, currently trading at 886.85 with a solid uptrend that reflects increased buying interest. The recent formation of a strong bullish momentum suggests that buyers are actively stepping in, driving the stock higher. Following a slight pullback from its recent highs, the stock found support at the 50-day Exponential Moving Average (EMA) level of 815, from which it rebounded decisively, indicating a strong base and renewed buying pressure. If JINDRILL continues this upward trajectory, it is well-positioned to potentially achieve a short-term target of 955, supported by strong technical indicators and positive market sentiment.

On the downside, immediate support is located at 855. The Relative Strength Index (RSI) is currently at 54.75 and trending upward, reflecting growing buying momentum. To manage risk effectively, a stop-loss at 855 is suggested to guard against any unexpected market reversals.

In conclusion, based on the technical analysis and current market conditions, JINDRILL presents a promising buying opportunity for those aiming for a 955 target, provided that appropriate risk management strategies are in place.

Camlin Fine Sciences

Buy CAMLINFINE in Cash @ 149.29 SL @ 143 TGT @ 160

CAMLINFINE is currently trading at 149.29, reflecting a strong upward trajectory. The stock has exhibited a consistent pattern of higher highs and higher lows, underscoring sustained bullish momentum. Notably, it recently reached a fresh 52-week high of 151. Trading significantly above its 20-day EMA, 50-day EMA, and 200-day EMA, CAMLINFINE exhibits robust support across short-term and long-term trends. This technical strength, combined with the recent breakout above a key resistance level, highlights the stock's potential for further appreciation. If the upward momentum persists and CAMLINFINE continues to breach higher levels, it could potentially target 160 in the near term.

On the downside, immediate support is located at 145. The Relative Strength Index (RSI) is currently at 65.18 and trending upward, reflecting growing buying momentum. To manage risk effectively, a stop-loss at 143 is suggested to guard against any unexpected market reversals.

In conclusion, based on the technical analysis and current market conditions, CAMLINFINE presents a promising buying opportunity for those aiming for a 160 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.