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

The Nifty index ended Monday's trading session at 22,508.75, up 0.50% (+111.55 points), indicating cautious optimism among traders. The Nifty closed just over the key 22,500 barrier, although it is still below the crucial 22,700 level. With a 0.61% (+293.75 point) gain, the Nifty Bank finished at 48,354.15, indicating cautious optimism among traders. The market's fear indicator, the India VIX, increased by 1.02% to 13.41, suggesting a modest increase in risk perception. It is anticipated that volatility will be found as long as the VIX stays below the crucial 15 mark, enabling traders to retain a cautiously bullish outlook.

Nifty Outlook Today

"Nifty remains trapped in a narrow range, displaying erratic intraday moves and a lack of strong directional bias. The bulls' ability to defend the 22,200-22,300-support zone highlights their resilience at lower levels. However, for an uptrend to gain traction, the index must decisively clear the 22,700 mark and sustain above its 20-day EMA. This support zone, backed by heavy put writing, continues to act as a critical safety net. On the flip side, the 22,600-22,700-resistance range remains a tough ceiling due to persistent call writing and technical headwinds. A decisive close above 22,700 could unleash a strong upside move, triggering short-covering rallies. However, continued supply pressure and call writing at higher levels may keep gains in check. Given the prevailing indecisive price action, a 'Range Trading' strategy appears most suitable. As long as Nifty holds above 22,200, buying on dips remains favourable, with 22,650 serving as the key breakout level that must be breached for sustained upward momentum," said Dhupesh Dhameja, Derivatives Analyst, SAMCO Securities.

Bank Nifty Outlook Today

"Nifty Bank index continues to exhibit a lack of directional momentum, oscillating between intraday volatility and sideways movement. The 47,800-48,000 support zone remains a strong base, reinforcing bullish interest at lower levels. However, for any meaningful upside breakout, the index must surpass the 48,500 hurdle and sustain above its 20-day EMA. This support region, strengthened by heavy put writing, serves as a crucial safety net for bulls. Conversely, the 48,500-49,000 resistance band remains a key obstacle, with persistent call writing and technical barriers restraining further upside. Bulls need to defend the 47,800 level to sustain positive momentum, while a decisive breakout beyond 48,500 is critical to unlock a sharp rally. However, persistent selling pressure at higher levels may continue to cap immediate gains. Given the ongoing indecisive market sentiment, a 'Range Trading' strategy remains the most viable approach. As long as Nifty Bank sustains above 47,800, buying on dips remains advisable, with 48,500 acting as the key breakout level that must be cleared for further upside expansion," commented Dhupesh Dhameja.

Stocks To Buy Today

On Tuesday, March 18, Choice Broking's executive director, Sumeet Bagadia, suggested buying two stocks before the start of the US Fed's and Bank of Japan's interest rate announcements on Wednesday and the Bank of England's on Thursday.

Associated Alcohols & Breweries

Buy ASALCBR in cash @ 1390.8, Stop-loss: 1340, Target: 1490

ASALCBR is currently trading at ₹1390.8. After a period of small falls and sideways consolidation, the stock has lately broken the neckline levels of ₹1350 and is rising quickly on the upside with substantial volume... There are expectations of further upward movement, potentially reaching ₹1490 levels. On the downside, substantial support is evident near ₹1340.

Furthermore, ASALCBR 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 ₹1340 to protect the investment in case of an unexpected market reversal.

In summary, considering the technical analysis and prevailing market conditions, ASALCBR appears to present a promising buying opportunity for those targeting a ₹1490 price objective, contingent upon the implementation of prudent risk management measures.

Aarti Pharmalabs

Buy AARTIPHARM in cash @ 774.3, Stop-loss: 725, Target: 830

AARTIPHARM showcases a bullish momentum, evident from a notable uptrend from the support levels around, in close proximity to its 50 Day Exponential Moving Average (EMA). substantial upward movement and a significant closing around ₹774.3. The stock has been experiencing robust buying interest, leading to consecutive gains that could potentially lead to further upward movement after the recent surge, offering an optimistic outlook for investors.

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 AARTIPHARM price action.

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

Based on the above analysis we recommend buying AARTIPHARM in cash at CMP of 774.3 for the target of 830 with a stop loss of 725.

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.