Stocks to buy or sell today: 7 top trading ideas by experts for 17 August 2023
The S&P BSE Sensex rose more than 100 points while the Nifty50 closed above 19400 levels on Wednesday. India VIX was up by 1.04% from 12 to 12.12 levels in the previous trading session.
Volatility rose above 12.5 during the day but later cooled off thus paving way for the bulls at support zones. On the weekly options front, the maximum Call OI is placed at 19600 and then towards 19500 strikes while the maximum Put OI is placed at 19300 and then towards 19400 strikes.
Call writing is seen at 19600 and then towards 19550 strikes while Put writing is seen at 19300 and then towards 19400 strikes. “Options data suggests a broader trading range in between 19000 to 19800 zones while an immediate trading range in between 19200 to 19600 zones,” Chandan Taparia, Analyst-Derivatives at Motilal Oswal Financial Services Limited, said.
“Nifty formed a Bullish candle on the daily scale on Wednesday with longer lower shadow indicating buying at support zones and negated its lower highs formation of the last three sessions,” he said. “Now the Nifty has to hold above 19420 zones to witness a bounce towards 19560 then 19620 zones whereas support exists at 19300 then 19250 zones,” recommends Taparia.We have collated a list of stocks from various experts for traders who have a short-term trading horizon:Expert: Rajesh Palviya, VP-Technical & Derivative Research, Axis Securities told ETBureau JKPaper: Buy| Target Rs 395| Stop Loss Rs 340Jubilant Pharmova: Buy| Target Rs 570| Stop Loss Rs 430Salzer Electronics: Buy| Target Rs 440| Stop Loss Rs 358Shankara Building Products: Buy| Target Rs 970| Stop Loss Rs 813Expert: Kunal Bothra, Market Expert told ETNowManappuram Finance: Buy| Target Rs 158| Stop Loss Rs 144Titan Company: Sell| Target Rs
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