Best intraday stocks to watch out for on June 28

The equity markets opened higher and closed near the day's low. Normally, Monday's candle is one of the most bearish in nature, as the open and high were identical and close was near the day's low.

The only positive thing is, that the benchmark index closed above the 38.2% retracement level of the prior downswing. Now the 50% retracement level and the 20DMA are at the same level at 15984-988. The Nifty declined over 95 points from the opening high. On an hourly chart, the momentum has clearly waned. Mondays high will act as a crucial resistance. In any case, if the Nifty fails to close positively on Tuesday, it will be difficult to move further high. Today's high 15927 and 20DMA 15984 is a strong zone of resistance. The RSI is closed at the sloping resistance line. It is still below the 50 zone. For a bullish strength, it has to cross above 55 zone. The MACD line has crossed the signal line amid huge gap and a positive close. As the Nifty tested the gap, let us wait and watch for a decisive directional signal. For an uptrend to continue, the Nifty must move above Mondays high of 15927.

HDFCAMC 

The stock closed sharply lower on Monday. The 34 EMA acted as a strong resistance. It also formed lower highs and declined below all key moving averages. The RSI has declined below the 40 zone, and the MACD is about to give a sell signal. The -DMI has crossed the +DMI is negative for the stock while the Elder Impulse system has formed a strong bearish bar. The KST is about to give a sell signal, and the TSI is already in bearish mode. The Anchored VWAP acted as a strong resistance. In short, the stock is technically weakened. A move below Rs 1755 is negative, and it can test Rs 1690. Maintain a stop loss at Rs 1790. 

HDFCLIFE 

The stock has formed a shooting star in a consolidation in the broader downtrend. It is to end the minor uptrend and close below the previous day's low. It is below the moving average ribbon, and the MACD line is also below the zero line. The stock is trading below the key moving averages. On an hourly chart, the MACD is about to give a sell signal. The KST and TSI indicators are in bearish mode. The Anchored VWAP acted as strong support for the counter-trend. In short, the stock is about to resume the downtrend. A move below Rs 555 is negative, and it can test Rs 544. Maintain a stop loss at Rs 563.