Today’s intraday stocks for Sumeet Bagadia
- Sudarshan Chemical Industries: Purchase the company at ₹717.05 with a ₹688 stop loss and a ₹755 target price.
The daily chart analysis of Sudarshan Chemical Industries indicates a significant change in the market dynamics, with a potential upside bounce replacing a period of moderate drops and sideways consolidation.
A bullish pattern of consolidation of the upward advance has coincided with this breakout. The strong optimistic feeling is confirmed by a notable increase in trading volume.
The positive momentum in the stock is indicated by important technical indicators, most notably the Relative Strength Index (RSI), which not only shows favorable trends but also corresponds with the stock trading above significant moving averages, such as the 20-day, 50-day, and 100-day Exponential Moving Averages (EMA).
- Chambal Fertilizers & Chemicals: At a target price of ₹406, buy Chambal Fertilizers & Chemicals at ₹380.40 with a stop loss of ₹367.
After breaking through the initial resistance at 367 levels, Chambal Fertilizers & Chemicals is now trading comfortably above key moving averages, including the short-term (20-day), medium-term (50-day), and long-term (200-day) EMAs. The stock has demonstrated a notable rebound from its support levels, indicating underlying strength in the stock. Currently trading at 380.40 levels.
The stock’s strong momentum and bullish attitude are indicated by the momentum indicator, RSI, which is at 59.57 levels. A slight resistance is seen close to 388 levels, which is probably a temporary barrier. However, if trading stays above this resistance, it may lead to additional upward movement.
Based on these technical indications, the stock looks to be ready for more rises, with a possible goal of 406 and higher. Traders should hold onto long holdings or start new buy strategies, especially if the company manages to hold above these resistance levels.
- Rail Vikas Nigam Ltd (RVNL): Purchase RVNL at ₹277.35, with a stop loss of ₹271 and a target price of ₹292.
The RSI spiked after the consolidation period signaling a buy, and the stock has rallied well from the significant 50EMA level of 252 to gain strength and has moved past the previous peak zone of 271 levels to improve the bias and further rise is anticipated. The chart appears attractive, so we recommend buying the stock for an initial target of 292 level while keeping the stop loss at 271 level.
- Parag Milk Foods: Purchase the stock at ₹221 with a stop loss of ₹215 and a target price of ₹237.
The stock has been able to hold above the crucial 200-period MA at 208 levels recently, and it has also shown signs of a pullback to strengthen the bias as it moves past the crucial 50EMA level of 219 in anticipation of future gains.
Given the strong performance of the RSI and the considerable upside potential that is evident from current levels, together with the reasonable volume participation, we recommend buying the stock with an initial target of 237 level and a stop loss of 215 level.
5.GMR Airports Infrastructure: With a stop loss of ₹80.50, purchase GMR Airports Infrastructure at ₹82.35 with a target price of ₹87.
On the daily chart, the stock has shown signs of forming a higher low formation pattern, gaining support close to the critical 100 period MA at about 79.50 levels and experiencing a pullback to advance past the significant 50EMA level of 81.90 in anticipation of an additional upward move.