stocks to buy: Stocks to buy or sell today: 4 short-term trading ideas by experts for 30 December 2022

Sectorally, buying was seen in oil & gas, metals, energy, banks and utilities while selling was seen in consumer durables, capital goods, and FMCG stocks.

India VIX was down by 3.81% from 15.40 to 14.81 levels on Thursday. Volatility cooled down below 15 and made way for the bulls as we conclude the series.

The Nifty50 index surpassed its key hurdle of 18,181 level in the previous trading session which is a positive sign for the bulls. The next resistance for the index is placed at 18,300-18,400 levels, suggest experts.

“Nifty formed a Bullish Engulfing candle on a daily scale with long lower shadows indicating support-based buying. It has been making higher highs from the last four sessions and supports are shifting higher,” Chandan

, Analyst-Derivatives at Limited, said.

“Now, it has to continue to hold above 18181 zones, for an up move towards 18350 and 18442 levels whereas supports are placed at 18081 and 18018 levels,” he said.

Option data is scattered at various far strikes in January monthly series. On the options front, the maximum Call OI is seen at 19,000, and then towards 19,500 strikes while the maximum Put OI is seen at 18,000 and then towards 17,500 strikes.
“Option data suggests a broader trading range in between 17,700 to 18,600 zones while an immediate trading range in between 17,950 to 18,400 zones,” highlights Taparia.

We have collated stocks from various experts for traders who have a short-term trading horizon:

Expert: Shrikant Chouhan, Head of Equity Research (Retail), Kotak Securities told ETBureau

: Buy| Target Rs 1075| Stop Loss Rs 1025

The stock is in an accumulation phase and the recent bullish candlestick suggests a strong reversal.