Stocks to buy today: LIC Housing, SBI Life among 8 short-term trading ideas by experts for 8 August 2023
India VIX was up by 5.04% from 10.57 to 11.10 levels in the previous session. Volatility moved from lows but overall hovered at lower zones.
On the weekly options front, the maximum Call OI is placed at 20,000 and then towards 19,800 strikes while the maximum Put OI is placed at 19,500 and then towards 19,400 strikes. Call writing is seen at 19,750 then 19,800 strikes while Put writing is seen at 19,500 then 19,550 strikes.
“Options data suggests a broader trading range in between 19000 to 20000 zones while an immediate trading range in between 19,300 to 19,700 zones,” Chandan Taparia, Analyst-Derivatives at Motilal Oswal Financial Services Limited, said. “Nifty formed a small-bodied Bullish candle on Monday on the daily scale and closed the day with gains of around 80 points,” he said.
“Now Nifty has to hold above 19,560 zones for an up move towards 19,700 and 19,800 zones whereas supports are placed at 19,500 and 19,420 zones,” recommends Tapria.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 Divi’s Laboratories: Buy| Target Rs 4130| Stop Loss Rs 3780HCL Technologies: Buy| Target Rs 1230| Stop Loss Rs 1110LIC Housing Finance: Buy| Target Rs 482| Stop Loss Rs 418SBI Life: Buy| Target Rs 1410| Stop Loss Rs 1250Expert: Kunal Bothra, Market Expert told ETNowLTIMindtree: Buy| Target Rs 5200| Stop Loss Rs 4980Laurus Labs: Buy| Target Rs 425| Stop Loss Rs 385 Expert: Nooresh Merani, an independent technical analyst told ETNowIndusInd Bank: Buy| Target Rs 1550| Stop Loss Rs 1360LIC Housing Finance: Buy| Target Rs 480| Stop Loss Rs 428 (Disclaimer: Recommendations, suggestions, views, and
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