Best intraday stocks to watch out for on July 27

The Nifty retraced below the gap area support, and it slipped below 100DMA. The index took closed at a five-day low. The big and strong bearish belt holding the candle shows the strengthening bears. It also closed below the 20Weekly moving average decisively after last week's positive closing. The last two days of exhaustion signs got bearish confirmations with Tuesday's fall. As it has already tested the gap area, the next level of immediate support is at 16187. Before that, It may hold for some period at 16382. For a bullish continuation, it must hold above 16382 and close above the 16636 level. Between these levels, the index may further consolidate. Heikin-Ashi candle has formed a bearish bar too. The India VIX has been rising for the last two days with monthly derivative expiry due on Thursday, volatility is expected to surge and stay elevated.

GUJGAS

The stock broke the ten-day tight consolidation. It also closed below the 20DMA. It also closed below the moving average ribbon. The MACD line is sustaining below the zero line. By closing below the rising trend line, it also confirmed that it ended the counter-trend consolidation. The Elder impulse system has formed a strong bearish bar. It took support from Anchored VWAP. Tuesday's decline may result in further sharp fall, as it broke tight range. A move below Rs 443 is negative, and it can test Rs 428. Maintain a stop loss at Rs 450.

NAM-INDIA 

The stock closed below the moving average ribbon, and the MACD has given a fresh sell signal on the zero line, which is the most bearish setup. It has also closed below the 20DMA. The RSI declined below its 9 and 20-period averages. It has also broken the head and shoulders pattern. The Elder impulse system has formed a strong bearish candle. And the KST and TSI have given a fresh sell signal. In short, the stock closed at crucial support. A move below Rs 277 is negative, and it can test Rs 260. Maintain a stop loss at Rs 282.