Intraday Stocks for Today: Nifty Support at 23,000-23,100

Intraday stocks for today: Nifty support at 23,000-23,100, with fresh Sell and Buy calls on three names.

The Fed’s decision is now behind the market, and Thursday’s session opens with Nifty still testing the lower end of its four-month range.

Here are the levels and stock-specific setups shaping intraday stocks for today.

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Nifty and Bank Nifty Levels for Today

Nifty is consolidating around 23,200, the lower end of its trading range over the past four months. Support sits at 23,000-23,100; a break below opens a move toward 22,600-22,500, in line with the rising trendline from the 21,743-22,182 swing structure. On the upside, a move past 23,600 could extend toward 23,956-24,000, the 50 percent retracement of the decline from 24,774 to 23,100. Bank Nifty stays negative below 57,000, with support at 55,800; a break there points to 55,500-55,400.

Intraday Stocks for Today: Sell Setups

• Crompton: Sell September futures at Rs 224.50, stop-loss Rs 232, target Rs 218-215, on a breakdown from a symmetrical triangle with a negative MACD crossover
• NAM-INDIA: Sell September futures at Rs 1,125.50, stop-loss Rs 1,145, target Rs 1,085, on a breakdown from a bearish flag with a negative MACD crossover

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Intraday Stocks for Today: Buy Setup

Aegis Logistics: Buy at Rs 1,381, stop-loss Rs 1,340, target Rs 1,440. The stock broke out of a three-session consolidation range on the upside, with a positive momentum crossover supporting a resumption of the uptrend.

Why the Fed Decision Matters Today

The Fed raised its funds rate by 25 basis points to 3.75-4 percent, its first hike since 2023. Chair Kevin Warsh called inflation still too high and financial conditions restrictive, and while he gave no explicit forward guidance, markets read the tone as hawkish and are now pricing in another hike in October. The 10-year US Treasury yield actually eased 3 basis points to 4.99 percent on the announcement, and Brent crude slipped to around 105.8 dollars a barrel after Saudi Arabia offered extra crude cargoes through Oman.

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Conclusion

With Nifty sitting right at its four-month range low and Bank Nifty capped below 57,000, today’s setups lean on defined levels rather than a broad directional bet. Crompton and NAM-INDIA carry sell setups, Aegis Logistics a buy setup, each with a specific stop-loss and target for the session.

FAQs

What is Nifty’s key support level today?

Ans. Nifty’s crucial support is at 23,000-23,100; a breach could open a move toward 22,600-22,500.

What level would reverse Nifty’s current downtrend?

Ans. A move beyond 23,600 could reverse the downtrend and take Nifty toward 23,956-24,000.

What are today’s intraday sell setups?

Ans. Crompton September futures at Rs 224.50 with a stop-loss of Rs 232 and target of Rs 218-215, and NAM-INDIA September futures at Rs 1,125.50 with a stop-loss of Rs 1,145 and target of Rs 1,085.

What is today’s intraday buy setup?

Ans. Aegis Logistics at Rs 1,381, with a stop-loss of Rs 1,340 and target of Rs 1,440, on a breakout from a three-session consolidation range.

What did the US Federal Reserve decide?

Ans. The Fed raised its benchmark rate by 25 basis points to 3.75-4 percent, its first hike since 2023, with Chair Kevin Warsh describing financial conditions as restrictive.

What level would confirm Bank Nifty’s trend has turned negative further?

Ans. A break below 55,800 support could take Bank Nifty toward 55,500-55,400.

Who provided today’s stock-specific technical calls?

Ans. Jatin Gedia, VP of technical research at Teji Mandi Investment Technologies.