Stocks to buy today: 6 short-term trading ideas by experts for 19 April, 2023
Indian market is likely to consolidate on Wednesday tracking mixed global cues.
The S&P BSE Sensex was down more than 180 points while Nifty50 slipped below 17,700 on Tuesday.
India VIX was down by 1.51% from 12.26 to 12.07 levels on Tuesday.
Volatility spiked towards the 13-mark on Monday but later cooled off from its highs.
On the options front, the weekly maximum Call OI is placed at 17700 and then towards 18000 strikes while the maximum Put OI is placed at 17600 and then towards 17500 strikes.
Data suggests that meaningful Call writing is seen at 17700 and then towards 17900 strikes while Put writing was seen at 17650 and then towards 17500 strikes.
Options data suggests a shift in a trading range in between 17400 to 18000 zones while a shift in an immediate trading range in between 17500 to 17850 zones,” Chandan Taparia, Analyst-Derivatives at Motilal Oswal Financial Services Limited, said.
“Nifty formed a Bearish candle on the daily frame and broke its higher highs formation of the last ten sessions,” he said.
“The index got stuck at higher zones but still it has to hold above 17620 zones to witness an up move towards 17777 and 17850 zones while on the downside supports are placed at 17570 and 17500 marks,” recommends Taparia.
Expert: Vinay Rajani, Senior Technical and Derivative Research Analyst, HDFC Securities told ETBureau
Bank of Baroda: Buy| Target Rs 202| Stop Loss Rs 167
Ircon International: Buy| Target Rs 69| Stop Loss Rs 54.50
Expert: Viral Chheda, Technical Analyst, SSJ Finance & Securities told ETMarkets
Glenmark Pharma: Buy| Target Rs 540-600| Stop Loss Rs 420| Time 6-8 months
Indian Bank: Buy| Target Rs 380-430| Stop Loss Rs 280| Time 6-8 months
Expert: Kunal Bothra, Market Expert told ETNow
IRCTC: Buy| Target Rs 630| Stop Loss Rs 587
Poonawalla Fincorp: Buy| Target Rs 325| Stop Loss Rs 296
By:ET
