Stocks to buy today: Axis Bank, DLF among top 10 trading ideas for 31 August 2023
India VIX was up by 2.63% from 12.08 to 12.39 levels in the previous session.
Volatility spiked during the day and created swings within range.
On the monthly options front, the maximum Call OI is at 19500 and then towards 19400 strikes while the maximum Put OI is placed at 19300 and then towards 19200 strikes.
Call writing is seen at 19550 and then towards 19500 strikes while Put writing is seen at 19300 and then towards 19200 strikes.
“Options data suggests a broader trading range in between 19100 to 19500 zones while an immediate trading range in between 19200 to 19400 zones,” Chandan Taparia, Analyst-Derivatives at Motilal Oswal Financial Services Limited, said.
“Nifty formed a Doji sort of candle on the daily frame with longer shadows on either side on Wednesday,” he said.
“Now till it holds below 19350 zones, weakness could be seen towards 19250 then 19200 zones whereas hurdles are placed at 19444 then 19580 zones,” recommended 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
Atul: Buy| Target Rs 8000| Stop Loss Rs 7000
Prestige Estate: Buy| Target Rs 710| Stop Loss Rs 570
Indian Hotel: Buy| Target Rs 455| Stop Loss Rs 405
Neogen Chemicals: Buy| Target Rs 2010| Stop Loss Rs 1655
Expert: Nooresh Merani, an independent technical analyst told ETNow
M&M: Buy| Target Rs 1550| Stop Loss Rs 1700
Axis Bank: Buy| Target Rs 1050| Stop Loss Rs 960
Indian Hotels: Buy| Target Rs 450| Stop Loss Rs 405
Expert: Kunal Bothra, Market Expert told ETNow
Cholamandalam Investment & Finance: Buy| Target Rs 1160| Stop Loss Rs 1098
DLF: Buy| Target Rs 530| Stop Loss Rs 490
Hindustan Copper:
