stocks to buy: Stocks to buy today: 5 short-term trading ideas by experts for 18 January 2023
The S&P BSE Sensex pared gains after rallying nearly 100 points while the Nifty50 inched closer to 18,100 levels in the opening trade.
“The fall in Indian VIX will help the Nifty to get past the 18,040 vicinity that had hitherto been a significant challenge. This also encourages us to look beyond 18,100, and potentially 18,270-18,300,” Anand James – Chief Market Strategist at
, said.
“We will continue to view 17,960 as an important pivot but will wait for a breach of 17,800 for major downside plays,” he added.
On the options front, the weekly maximum Call OI is placed at 18,000 and then towards 18,100 strikes while the maximum Put OI is placed at 17,900 and then towards 17,800 strikes.
“Options data suggests a shift in a trading range in between 17700 to 18300 zones while an immediate trading range in between 17800 to 18100 zones,” Chandan
, Analyst-Derivatives at Motilal Oswal Financial Services Limited, said.
“Nifty has to hold above 17850 zones for an up move towards 18050 and 18123 zones whereas supports are placed at 17850 and 17777 zones,” he added.We have collated stocks from various experts for traders who have a short-term trading horizon:
Expert: Gaurav Ratnaparkhi, Head of Technical Research, Sharekhan by told ETBureau
: Buy| Target Rs 2750-2830| Stop Loss Rs 2595
The stock recorded an Inside bar pattern breakout pattern on the daily chart. Also, it has surpassed a falling trendline.
Life Insurance: Buy| Target Rs 500-515| Stop Loss Rs 470
The stock broke out from an Inverted Head & Shoulders pattern on the daily chart.
: Buy| Target Rs 108-112| Stop Loss Rs 99.50
The stock is moving up as a follow-through of a Hammer pattern formation at the daily lower Bollinger Band.
Expert: Kunal Bothra, Market Expert told ETNow
Ltd: Buy| Target Rs 2720| Stop Loss Rs 2580 Cements: Buy| Target Rs 7500| Stop Loss Rs 7270
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)
