Stocks to buy today: 4 short-term trading ideas by experts for 4 July 2023

economictimes.indiatimes.com:

The S&P BSE Sensex rose nearly 500 points while the Nifty50 closed above 19300 levels on Monday. India VIX was up by 6.85% from 10.80 to 11.54 levels on Monday.

Volatility has seen a spike as the index geared its move for new high territory and Call writers are getting pains with a surge in Call IVs. On the weekly options front, the maximum Call OI is placed at 19500 and then towards 19300 strikes while the maximum Put OI is placed at 19300 and then towards 19200 strikes.

Minor Call writing is seen at 19500 then 19600 strikes while Put writing is seen at 19300 then 19200 strikes. “Options data suggests a broader trading range in between 19000 to 19600 zones while an immediate trading range in between 19100 to 19500 zones,” Chandan Taparia, Analyst-Derivatives at Motilal Oswal Financial Services Limited, said.

“The Nifty50 has been making higher highs — higher lows from the last four trading sessions and recently rallied by around 700 points in the last five trading sessions,” he said. “Now the index has to continue to hold above 19250 zones to extend the move towards 19400 and 19500 zones while on the downside support shifts higher at 19100 and 19000 zones,” recommends Taparia.

We have collated stocks from various experts for traders who have a short-term trading horizon: Expert: Dharmesh Shah, Head — Technical, ICICI Securities told ETBureauState Bank of India: Buy| Target Rs 610| Stop Loss Rs 568Infosys: Buy| Target Rs 1392| Stop Loss Rs 1294Divi's Laboratories: Buy| Target Rs 3732| Stop Loss Rs 3490 Lemon Tree: Buy| Target Rs 98| Stop Loss Rs 90.80 (Disclaimer: Recommendations, suggestions, views, and opinions given by experts are their own. These do not represent the views of the Economic Times)