Best intraday stocks to watch out for on 19-April-2023

has formed a second consecutive open high candle. 

Both the indices, Nifty and Bank nifty, have formed inside bars i.e. price traded within high and low of prior trading session. The volumes were lower than the previous day. Importantly, the Nifty sustained below the Anchored VWAP resistance and below 17800. 

Interestingly, Tuesday’s move was also restricted within yesterday's first-hour range. Tuesday fall has more relevance for the bears, as many sectors support it. The index closed below the 5EMA for the first time after March 28. The RSI has declined into the neutral zone from the strong bullish zone. The MACD line has flattened, and the histogram shows a decline in the bullish momentum. The Stochastic line also declined from an extremely over-bought condition. On an hourly chart, the index has witnessed to big bearish candles and some intraday consolidation. To resume the upward move, It must close above the prior day's high and 17800. During the last two days, it tested the 23.6% retracement of the 9-day swing. 

A close below 17639 will hint at the correction. The immediate next support is at 50DMA of 17508. Now, the 50DMA is also flattened from a downtrend. For now, wait for the directional move to change the bias. Keep risk management in place to protect the capital. 

ATUL 

The stock closed at a crucial parallel high resistance. It formed higher lows. The stock is above the 20DMA, and it is in an uptrend. It also decisively closed above the 50DMA. The MACD line is above the zero line, and the histogram shows an increased bullish momentum. The Elder impulse system has formed a series of bullish bars in the consolidation. The KST and TSI have been in a bullish set-up. In short, the stock is about to register an ascending triangle breakout. A move above Rs 7140 is positive, and it can test Rs 7490. Maintain a stop loss at Rs 7670.