Stocks to buy today: 6 short-term trading ideas by experts for 17 April 2023 - Economic Times

Indian market could see some profit-taking on Monday amid weak global cues.

The S&P BSE Sensex and Nifty50 closed flat on Thursday but with a positive bias. The Nifty50 held on to 17800 levels while Sensex closed above 60,400 last week.

India VIX was down by 2.95% from 12.27 to 11.90 levels on Thursday. Volatility has been cooling off for the last three weeks and providing stability to the bulls.

On the options front, the weekly maximum Call OI is placed at 18000 and then towards 18100 strikes while the maximum Put OI is placed at 17800 and then towards 17600 strikes.

“Options data suggests a shift in a trading range in between 17400 to 18200 zones while a shift in an immediate trading range in between 17600 to 18000 zones,” Chandan Taparia, Analyst-Derivatives at Motilal Oswal Financial Services Limited, said.

“Nifty formed a bullish candle on the daily frame with longer lower shadow indicating strong support-based buying and it has been making higher highs - higher lows from the last nine sessions,” he said.

“Now, the Nifty50 has to hold above 17777 zones to extend the move towards 18000 and 18181 zones while on the downside supports are placed at 17717 and 17650 marks,” he said.We have collated stocks from various experts for traders who have a short-term trading horizon:

Expert: Chandan Taparia, Analyst-Derivatives at Motilal Oswal Financial Services Limited told ETBureau

ICICI Bank: Buy| Target Rs 940| Stop Loss Rs 880

Polycab India Ltd: Buy| Target Rs 3223| Stop Loss Rs 3015

Tata Motors: Buy| Target Rs 490| Stop Los Rs 460

HDFC Ltd: Buy| Target Rs 2910| Stop Loss Rs 2723

Expert: Kunal Bothra, Market Expert told ETNow

Tata Chemicals: Buy| Target Rs 1600| Stop Loss Rs 1000

Union Bank: Buy| Target Rs 76| Stop Loss Rs 66

(Disclaimer: Recommendations, suggestions, views, and opinions given by experts are their own. These do not represent the views of Economic Times)

Adblock test (Why?)