Intraday Stocks To Buy Today, May 15: Top Picks By Sumeet Bagadia For Profitable Trading On Thursday

Nifty ended the previous session with a modest rise of 0.36%, or 88.55 points, finishing at 24,666.90. This time, the index was unable to maintain any upward momentum and was grabbed by strong selling pressure, which caused a widespread surge of profit-booking. In contrast, Nifty Bank ended up entering a modest corrective tone as selling pressure increased. The index closed 0.25% down (-139.55 points) at 54,801.30. At 17.22, the India VIX cooled by 5.36%. Despite the fact that the fall indicates that worry has subsided following the global cues, volatility might quickly return, considering the level above 15. Regarding earnings, JSW Energy, Patanjali Foods, Abbott India, Page Industries, Godfrey Phillips India, Cochin Shipyard, ITC Hotels, and LIC Housing Finance will release their quarterly results today. Meanwhile, investors' attention will now turn to important international events on Thursday, such as the UK and Japan's GDP data and the US's initial jobless claims.

Nifty Outlook Today

"With Nifty struggling to stretch its gains and sliding back into its old comfort zone, market mood has clearly turned neutral. The unwinding in Put positions paired with bearish FPIs flows signals growing caution among players. The index seems to be sinking into a consolidation phase with no clear lead. Call writers shifting their base to lower levels further accentuates the bearish undertone. Looking ahead, 24,500 remains the key battleground. A breakout above 24,750 is critical to reignite upward momentum towards 25,000-25,200. In contrast, slipping below 24,500 could open doors to brief selling spells, but any dip near 24,370 might once again become a lucrative entry point for the bulls," commented Dhupesh Dhameja, Derivatives Research Analyst, SAMCO Securities.

Bank Nifty Outlook Today

"With Nifty Bank failing again to hold above vital levels and repeatedly getting rejected near resistance patches, the overall sentiment has cooled off. Fresh rounds of call writing are visible at upper levels, reflecting increasing pessimism. The index looks parked in a sideways phase, awaiting strong cues for breakout. As call writers tighten their grip and shift to lower strikes, the sentiment has turned noticeably cautious. Going forward, 54,700 level will act as a key battleground. A breakout above 55,500 could re-ignite the bulls and take the index to 56,000-56,200, while a dip below 54,700 may trigger light profit-taking - though any drift to 54,400 still might get scooped up by buyers looking for opportunity in a dull tape," commented Dhupesh Dhameja.

Stocks To Buy Today

Sumeet Bagadia, executive director of Choice Broking, recommended purchasing two stocks on Thursday, May 15, amid a lull in global trade tensions and moderation among foreign institutional investors (FII).

HBL Engineering

Buy HBLENGINE in cash @ Rs 569.05, Stop-loss: Rs 544, Target: Rs 600

HBLENGINE has shown signs of resilience in the recent trading sessions, consolidating around key moving averages. The stock is currently trading at ₹569.05, with a gain of 12.34% for the session. The chart indicates a steady upward movement after a period of correction, with the stock finding support around the ₹545-₹530 zone.

The presence of the 200-day EMA at ₹530 suggests a near-term support zone, while resistance can be seen around ₹575. The stock had recently witnessed a phase of consolidation, followed by a breakout attempt. Volume activity remains robust, indicating that the confirmation of strength is a sustained uptrend.

The recent bullish momentum suggests that if HBLENGINE manages to stay above the ₹570-₹575 range, it could witness further upside, potentially testing the ₹600 mark. However, if selling pressure intensifies, the stock may retest its support levels. The Bollinger Bands suggest that volatility is gradually expanding, which could lead to a decisive move in the coming sessions.

The Relative Strength Index (RSI), a momentum indicator, is hovering around 68.03 levels. This RSI reading suggests that the stock possesses considerable strength and also It signifies a healthy and sustainable uptrend.

Based on the above analysis we recommend buying HBLENGINE at CMP of 569.05 with a SL of 544 for the target of 600.

Mishra Dhatu Nigam

Buy MIDHANI in cash @ Rs 392.4, Stop-loss: Rs 378, Target: Rs 420

MIDHANI is currently trading at 392.4. The rally was backed by strong volumes and a sharp bullish candle. MIDHANI has delivered a multi-month breakout after consolidating for several weeks between ₹280 and ₹340 marking a decisive breakout. The stock has broken past its major resistances, including the 200-day EMA, which is a long-term trend indicator. It is now trading firmly above all key exponential moving averages. The price action shows a clear breakout from a horizontal range expansion underscores renewed investor confidence and robust momentum in the stock.

Adding to the positive momentum, Importantly, this move came after a Upward Breakout near the 200-day EMA, which held strong support near ₹333, and acted as a springboard for the current rally. Given the overall chart pattern, the analysis suggests a favourable long trading opportunity for investors.

Based on the above analysis we recommend buying MIDHANI in cash at CMP of 392.4 for the target of 420 with a stop loss of 378.

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.