Best intraday stocks to watch out for on July 05

Best intraday stocks to watch out for on July 05

by 5paisa Research Team Last Updated: Dec 15, 2022 - 09:06 am 23k Views

The Nifty closed above the 20DMA and prior day high and finally the RSI broke the 47 zone and decisively closed above the sloping trendline.

Friday's recovery from the lower level gave an early signal. However, during the first hour and the last hour of Monday, the Nifty has formed the bearish candles, shooting stars. The index faced resistance at the sloping trendline and the price pattern on a lower timeframe looks like a bullish flag. For breakout, the index must close above today's high of 15852. As mentioned earlier, the resistances are placed at 15987 and 16178. At the same time, the index has to sustain above the gap area for a bullish reversal. A close below 15660 is negative for the index and will resume the downtrend. The market is in a countertrend and will continue for another 2-3 days. The prior consolidation was three weeks old. The current consolidation entered the third week. The RSI may test 55 zone in this countertrend. As the day began with a shooting star and ended with a shooting star on hourly chart. This gives no clarity on the trend. Select stock-specific activity and sector rotations will happen in this countertrend. Be cautiously optimistic for now.


The stock has formed an ascending base formation and closed at the resistance. It has formed several parallel highs at Rs 1692. The stock closed above the 20DMA, and the Bollinger bands are contracting. The MACD line is above the signal line. The descending volume is a character of consolidation. The RSI has formed higher highs during the consolidation. The Elder impulse system has formed the bullish bar. The KST and TSI indicators have given a bullish signal. The stock is also trading above the TEMA. In short, the stock is at a parallel resistance, and a breakout will give a sharp move. A move above Rs1692 is positive, and it can test Rs1762. Maintain a stop loss at Rs1650.


The stock has taken support at Rs 781-92 zone several times. It also formed two consecutive hammer candles at the bottom. Currently, the 8EMA is acting as short-term resistance. The RSI shows positive divergence and the MACD is about to give a bullish signal. The KST and TSI indicators are already given bullish signals. The stock is trading above the TEMA. In short, the stock gives a contra trade opportunity. A move above Rs 808 is positive, and it can test Rs 835. Maintain a stop loss at Rs 792. 

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.
Open Free Demat Account
Resend OTP
Please Enter OTP
Account belongs to

By proceeding, you agree to the T&C.

Latest News
BSE to Discontinue Stop Loss Market Orders for All Segments from October 9

Bombay Stock Exchange (BSE) has announced the discontinuation of Stop Loss Market (SL-M) orders, effective from October 9. This decision follows a recent incident involving a "freak trade" triggered by an SL-M order, which led to concerns within the trading community. The aim is to prevent erroneous order placements, whether they result from manual or algorithmic trading.

  • Oct 03, 2023
Valiant Laboratories IPO: Closing subscription details

Valiant Laboratories Ltd has a face value of ₹10 per share while the price band for the book building IPO has been set in the band of ₹133 to ₹140 per share. The final price will be discovered within this band, through the process of book building. The fresh issue portion entailed the issue of 1,08,90,000 shares (108.90 lakh shares), which at the upper price band of ₹140 per share will translate into fresh issue size of ₹152.46 crore.

  • Oct 03, 2023
Saakshi Medtech IPO: Listing day Update

Premium listing for Saakshi Medtech and Panels Ltd, then hits upper circuit Saakshi Medtech and Panels Ltd had a strong listing on 03rd October 2023, listing at a premium of 50.52%, and subsequently hitting the 5% upper circuit on

  • Oct 03, 2023