Intraday Stocks To Buy Today, April 4: Top Picks By Sumeet Bagadia For Profitable Trading On Friday

Rising trade tensions caused global markets to plummet, but the Indian market showed remarkable resiliency. Nifty Bank maintained its position against global turmoil brought on by tariff hikes, ending the session with a gain of 0.49% at 51,597.

35, while Nifty closed the session down at 23,250.10. The market's fear indicator, the India VIX, dropped 0.



89% to 13.60, suggesting a lower level of volatility. The market will probably remain somewhat calm and volatility will be controlled as long as the VIX stays below 15.

Investor attention will turn to the highly anticipated Q4 earnings season and the key RBI monetary policy decision next week, which will influence the market's direction after U.S. President Donald Trump's announcement of tariffs.

Nifty Outlook Today "Despite ongoing macroeconomic uncertainties, Nifty absorbed selling pressure well, forming a solid base at support levels and staging a gradual recovery despite muted intraday momentum. With both call and put writers strategically placing positions at key levels, market indecision remains dominant. The failure to break below support has boosted optimism, leading to renewed long positions.

However, the index's position below the 200-day EMA continues to present a major technical hurdle. RSI staying under 60, along with Nifty's adherence to its 0.382% Fibonacci retracement level, reinforces a defined trading range, where both bulls and bears are actively defending their zones," said Dhupesh Dhameja, Derivatives Research Analyst, SAMCO Securities.

"The 23,500-23,350 region has become a strong supply zone, with persistent call writing flipping previous support into resistance. On the downside, 23,200-23,000 remains a crucial support area, backed by significant put additions and psychological importance. A decisive breakout above 23,300 could trigger bullish momentum, but with call writers maintaining a firm stance and steady put writing at lower levels, consolidation is likely to continue.

As long as Nifty trades within 23,500-23,000, a buy-on-dips and sell-on-rise strategy remains favourable. However, a break above 23,300 could ignite short-covering, leading to further upside potential," Dhupesh Dhameja added. Bank Nifty Outlook Today "Despite recent uncertainty, Nifty Bank has absorbed selling pressure well, establishing a firm base at support levels while staging a gradual recovery.

With put writers actively positioning themselves at lower levels, bullish sentiment is gaining traction. The failure to break below support has encouraged renewed long positions, while the index's position below its recent swing high remains a key hurdle. With RSI holding above 60, the index remains well-positioned for a potential breakout.

The 51,700-52,000 range has transformed into a supply zone, with consistent call writing capping the upside," commented Dhupesh Dhameja. "On the flip side, the 51,000-51,500 range remains crucial support, backed by strong put additions and psychological importance. A decisive breakout above 51,750 could reignite bullish momentum, but dips toward key support levels may continue to attract buying interest.

As long as Nifty Bank trades between 52,000 and 51,000, a buy-on-dips and sell-on-rise strategy remains ideal. Conversely, a break above 52,000 could trigger short-covering, pushing the index toward higher levels with strong upside momentum," the analyst further added. Stocks To Buy Today Sumeet Bagadia, executive director of Choice Broking, recommended buying two stocks on Friday, April 4, following the United States' announcement of reciprocal tariffs on more than 180 nations, including India.

Buy POONAWALLA in cash @ Rs 364, Stop-loss @ 350, Target @ 385 POONAWALLA is currently positioned at 364 levels and has shown robust upward momentum. The stock's recent breakout was supported by significant trading volume, indicating strong investor interest. The chart reveals a steady climb, with the 20-day EMA trending upward and converging towards the 50-day and 100-day EMAs.

This alignment of moving averages suggests a continuation of the bullish trend if supported by further buying pressure., affirming its inherent strength. While facing a minor resistance at 366 levels, a breakout beyond this threshold could pave the way for further upward momentum.

Sustaining levels above 366 may propel the stock towards the next target at 385 levels, presenting a promising outlook for investors. Reinforcing the positive sentiment, the Relative Strength Index (RSI) comfortably rests at 74.15 levels, indicating a favourable balance between buying and selling pressures.

The technical parameters collectively suggest a constructive environment for POONAWALLA, encouraging potential bullish movements in the near term. Investors may find opportunities in this upward trajectory, particularly on confirmation of a sustained breakthrough above the resistance level. Based on the above technical analysis, we recommend buying POONAWALLA at CMP of 364 for a medium-term outlook with a stop loss of 350 for targets of 385.

Buy V2RETAIL in cash @ Rs 1870.85, Stop-loss @ 1800, Target @ 2000 V2RETAIL daily chart analysis offers a favourable view for the following week, indicating a steady higher advance. Notably, the stock has produced a notably higher high and higher low pattern, and the company's recent upward swing has effectively violated the neckline, with the significant breakout above the key resistance level around 1840.

This breakthrough indicates the possibility of a significant follow-through upward increase in the stock price. This trend signals strong momentum in the stock. There is potential for V2RETAIL to attain a target price of ₹2000 in the near term.

Adding to the positive momentum, there has been an increase in trading volume, indicating growing market interest. The stock formed a strong bullish momentum on the daily chart, signalling a potential continuation of the uptrend. Furthermore, V2RETAIL is currently trading above its crucial 20-day, 50-day, and 100-day Exponential Moving Average (EMA) levels, reinforcing the bullish trend.

For traders, keeping an eye on the strong support near 1800 levels is advisable, as a breach of this level could signal a shift in sentiment. Based on the above analysis, we recommend buying V2RETAIL and the CMP of 1870.85 with a stop loss of 1800 for the target of 2000.

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..