Best intraday stocks to watch out for on August 10

Best intraday stocks to watch out for on August 10

by 5paisa Research Team Last Updated: Dec 14, 2022 - 01:00 am 19.8k Views
Listen icon

The Nifty negated the inside bar's bearish implications by closing above Thursday's high. It formed another higher high and higher low candle. Metal and Private sector banks drove the rally. Considering it is a truncated week lowest volume in the last two months has been recorded on Monday.

The Nifty has not breached the prior day low and has not given any kind of weaker signal. As it closed above 17491, the targets are open towards the 17625-700 zone. The only suspicion is about the rally on the low volume. The momentum also declined for the fourth day. The strong price action on low volume and declined momentum are not trustworthy. On a 75-minute chart, the RSI and MACD lines decline when the price moves higher. This negative divergence also gives some weaker price internals. It needs confirmation for the bearish implications by closing below the prior day's low. For now, the 17286-264 zone of support is key. If the Nifty trades above this zone, be with the trend.


The stock has been consolidating in a tight range for the past seven days. It closed at the resistance. A close above the moving average ribbon along with the MACD line above the zero line, is a bullish signal. It has also closed above the 50DMA. The RSI is clearly above the prior swing highs and near a strong bullish zone. The RS momentum has reached above 100 zone, and the Elder impulse system has formed a bullish bar. The KST and TSI indicators have given a bullish signal. The stock has also closed above the sloping trend line resistance. In short, the stock is poised for a sharp-up move. A move above Rs 970 is positive, and it can test Rs 1010. Maintain a stop loss at Rs 945.


The stock has broken the rising channel and the prior low. It declined below the moving average ribbon. It is also decisively below the 20 and 50DMA. The MACD line is very near to the zero line, and the histogram shows an increase in bearish momentum. The RSI has closed below the prior lows and entered the bearish zone. The Elder impulse system has formed a series of bearish bars. The 200DMA acted as a strong resistance. It also closed below the Anchored VWAP. The KST and TSI indicators have given a sell signal. The Relative Strength and Momentum are lagging. In short, the stock broke the key supports. A move below Rs 794 is negative, and it can test Rs 765. Maintain a stop loss at Rs 811.

Share Market Today

How do you rate this article?

Start Investing in 5 mins*

Rs. 20 Flat Per Order | 0% Brokerage


About the Author

Our research team is composed of some highly qualified research professionals, their expertise range across sectors.


Investment/Trading in securities Market is subject to market risk, past performance is not a guarantee of future performance. The risk of loss in trading and investment in Securities markets including Equites and Derivatives can be substantial.
Enjoy 0%* Brokerage with 5paisa
Resend OTP
Please Enter OTP
Mobile No. belongs to

By proceeding, you agree to the T&C.

Latest News
Polymatech Electronics: ₹1,500 Crore IPO for Semiconductor Expansion

Polymatech Electronics, prominent semiconductor chip manufacturer based in Chennai, is gearing up for significant financial move with plans to launch₹1,500 cr initial public offering (IPO) by end of year. This IPO, double size initially envisaged, signifies company’s ambitious expansion strategy in semiconductor industry.

Vodafone Idea Sets Floor and Cap Prices for FPO Amid Market Speculation

In a major development, Vodafone Idea Ltd. has revealed the floor price and cap price, alongside the lot size, for its upcoming follow-on public offering (FPO). The telecom giant witnessed a decrease of more than 3.25% during early trading on Wednesday, settling at ₹12.51, thus holding a market capitalization exceeding ₹61,000 crore.

Bondada Engineering Share Price Surged by 1423.2%, Know Why?

Bondada Engineering, standout in integrated infrastructure sector, witnessed extraordinary surge in its share price, soaring by impressive 1423.2% since its debut on BSE SME platform in August 2023. Investors who were part of IPO allocation saw significant gains, potentially earning 18.3 lakhs in just over eight months.