stocks to buy today: Stocks to buy today: 6 short-term trading ideas by experts for 28 July post US Fed rate hike

The S&P BSE Sensex rallied by about 500 points while the Nifty50 reclaimed 16,700 levels in the first 15-minutes of trade.

FOMC raised interest rates by 75 bps on expected lines taking its benchmark rate to a range of 2.25% to 2.5%. The US Fed gave the future interest rate guidance in the range of 3% to 3.5%.

A hike of 75 bps was already discounted by the market. Equity markets are taking comfort from the Fed statement that the US is not in a recession.

“Even after the 75 bps consecutive rate hike by the Fed and indication that “another unusually large increase would be appropriate in the next meeting” the US markets staged a smart bounce back with S&P 500 and Nasdaq rising by 2.62% and 4.06% respectively,” Dr. V K Vijayakumar, Chief Investment Strategist at

, said.

The market seems to be taking a cue from the Fed chief’s observation that, “I don’t think we are in a recession now, the labour market continues to be tight,” he said.

Sectorally, buying was seen in finance, IT, banks, realty, and power stocks while some selling was visible in healthcare, auto, FMCG, and dividend stocks.

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

Expert: Kunal Bothra, Market Expert told ETNow


Hindalco: Buy| Target Rs 404| Stop Loss Rs 380

Coforge: Buy| Target Rs 3900| Stop Loss Rs 3700

Aditya Birla Capital: Buy| Target Rs 110| Stop Loss Rs 100

Expert: Nooresh Merani, independent technical analyst told ETNow


HDFC Bank: Buy| Target Rs 1500| Stop Loss Rs 1350

Bajaj Auto: Buy| Target Rs 4300| Stop Loss Rs 3820

DCB Bank: Buy| Target Rs 110| Stop Loss Rs 84

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