Intraday Stocks for Today: Nifty Needs 23,418 to Confirm
- September 18, 2026
- Posted by: Harsh Piplani
- Category: News
Intraday stocks for today: Nifty needs a close above 23,418 to confirm its rebound, with support at 23,115-23,118.
Quick Answer
Intraday stocks for today follow a second straight gain for Nifty, which closed Thursday at 23,270.60, up 53 points, after touching an intraday high of 23,363.55. The index formed a bullish candle with an upper shadow and a higher high, higher low versus the prior session, but it remains below its 8-day EMA at 23,418, the level needed on a closing basis to confirm the rebound. Support sits at 23,115-23,118; a break below could drag the index toward 23,070-23,000. Tata group stocks remain in sharp focus after Thursday’s board decisions on Tata Sons.
Nifty is trying to build on two days of gains, but the index is still fighting its own short-term trend indicator rather than confirming a clean reversal.
Here is the technical setup and the stock-specific volatility shaping intraday stocks for today.
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Nifty’s Setup for Today
Nifty formed a bullish candle with an upper shadow on Thursday, making a higher high and higher low than the prior session, but it closed below the 38.2 percent retracement of Tuesday’s decline after failing to hold the 50 percent retracement level. The index also remains below its 8-day EMA, currently at 23,418; a decisive close above that level on higher volumes would strengthen the case for continued recovery.
Key Levels to Track
- Resistance: 8-day EMA at 23,418; a close above this on strong volume is needed to confirm the rebound
- Support: 23,115-23,118; holding this zone keeps the consolidation biased positive
- Downside risk: a break below support could pull the index toward 23,070-23,000
- Momentum: the 14-period RSI remains oversold but selling pressure is moderating, and the MACD histogram shows reduced negative momentum
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Why Tata Group Stocks Are Still in Focus
Thursday’s session saw sharp, volatile moves in Tata group stocks after the Tata Sons board approved a fresh five-year term for Chairman N Chandrasekaran and cleared the company’s listing proposal. Tata Chemicals touched an intraday high of 13.5 percent before closing 5.72 percent higher at Rs 774, while Tata Investment Corporation closed 5.63 percent higher at Rs 719.25 after touching a 7 percent intraday gain. That kind of gap between the intraday high and the close is a sign these stocks could stay volatile in today’s session as well.
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India VIX and Breadth
India VIX fell 6.7 percent on Thursday, and market breadth was broadly positive, with 36 of the Nifty 50 constituents advancing against 14 declining. NSE-wide breadth was similarly positive, with 2,262 stocks advancing against 1,279 declining.
Conclusion
With Nifty still below its 8-EMA and needing a decisive move past 23,418 to confirm the recovery, today’s session leans on confirmation rather than a settled trend. Tata group stocks carry the added volatility of Thursday’s board decisions, making them worth tracking closely through the day.
Disclaimer: Data and figures in this article are sourced from publicly available information and may change as trading continues through the day. Please verify all data independently before making any investment decision. Investments in securities are subject to market risk. This content is for educational purposes only and is not investment advice by Univest (SEBI RA INH000013776).
FAQs
What level does Nifty need to close above to confirm its rebound?
Ans. The 8-day EMA at 23,418; a decisive close above this on higher volumes would strengthen the recovery case.
What is Nifty’s key support today?
Ans. The 23,115-23,118 zone; a break below could drag the index toward 23,070-23,000.
Why are Tata group stocks still volatile today?
Ans. The Tata Sons board approved a fresh five-year term for Chairman N Chandrasekaran and cleared the company’s listing proposal on Thursday, triggering sharp intraday swings in Tata Chemicals, Tata Investment Corporation and other group stocks.
How did India VIX move on Thursday?
Ans. India VIX fell 6.7 percent, suggesting reduced near-term volatility expectations.
Was market breadth positive on Thursday?
Ans. Yes, 36 of the Nifty 50 constituents advanced against 14 declining, and NSE-wide breadth showed 2,262 advancing stocks against 1,279 declining.
What do the RSI and MACD suggest for Nifty right now?
Ans. The 14-period RSI remains oversold but selling pressure is moderating, and the MACD histogram shows reduced negative momentum, though stronger confirmation is still needed.
