Stocks to buy today: Axis Bank, GAIL among top 9 trading ideas for 22 August 2023
The S&P BSE Sensex rose more than 260 points while the Nifty50 closed just below 19400 levels on Monday.
India VIX was down by 1.48% from 12.14 to 11.96 levels in the previous trading session. Volatility rose above 12.5 during the day and later cooled off and comforted the bulls.
On the weekly options front, the maximum Call OI is placed at 19500 and then towards 19600 strikes while the maximum Put OI is placed at 19300 and then towards 19200 strikes.
Call writing is seen at 19500 and then towards 19600 strikes while the Put writing is seen at 19350 and then towards 19300 strikes.
“Options data suggests a broader trading range in between 19000 to 19600 zones while an immediate trading range in between 19200 to 19500 zones,” Chandan Taparia, Analyst-Derivatives at Motilal Oswal Financial Services Limited, said.
“Nifty formed a Bullish candle on the daily frame and closed with gains of around 80 points near 19400 zones,” he said.
“Now the index has to hold above 19350 zones, for an up move towards 19480 and 19560 zones whereas supports are placed at 19300 then 19250 zones,” recommended Taparia.
We have collated a list of stocks from various experts for traders who have a short-term trading horizon:
Expert: Ajit Mishra, SVP — Technical Research, Religare Broking Ltd. told ETBureau
Axis Bank: Buy| Target Rs 1010| Stop Loss Rs 925
Dabur India: Buy| Target Rs 604| Stop Loss Rs 550
GAIL India: Buy| Target Rs 123| Stop Loss Rs 110
Expert: Kunal Bothra, Market Expert told ETNow
J&K Bank: Buy| Target Rs 98| Stop Loss Rs 90
Bajaj Finance: Buy| Target Rs 7200| Stop Loss Rs 6950
Sona BLW Precision Forging: Buy| Target Rs 615| Stop Loss Rs 575
Expert: Nooresh Merani, an independent technical analyst told ETNow
IndusInd Bank: Buy| Target Rs
