Stocks to buy today: ONGC, BHEL among top 10 trading ideas for 28 September
The S&P BSE Sensex rose more than 170 points while the Nifty50 closed above 19700 on Wednesday.
India VIX was up by 3.62% from 11.18 to 11.58 levels in the previous trading session.
Volatility was slightly on the rise but overall trading was at its lower band and provided comfort to the bulls at support zones.
On the options front, the maximum Call OI is placed at 19800 and then towards 19900 strikes while the maximum Put OI is placed at 19600 and then towards 19700 strikes.
Call writing is seen at 19750 and then towards 19800 strikes while Put writing is seen at 19600 and then towards 19700 strikes.
“Options data suggests a trading range in between 19600 to 19850 zones,” Chandan Taparia, Analyst-Derivatives at Motilal Oswal Financial Services Limited, said.
“Nifty formed a Bullish candle on daily scale on Wednesday with long lower shadow indicating strong support-based buying and negated its lower highs formation of the last six sessions,” he said.
“Now the index has to hold above 19700 zones, for an up move towards 19850 then fresh move towards 19950 zones whereas supports are placed at 19600 then 19550 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
Ramco Systems: Buy| Target Rs 385| Stop Loss Rs 310
Ujjivan Financial Services: Buy| Target Rs 640| Stop Loss Rs 503
Granules India: Buy| Target Rs 413| Stop Loss Rs 329
Balrampur Chini Mills Ltd: Buy| Target Rs 510| Stop Loss Rs 425
Expert: Kunal Bothra, Market Expert told ETNow
BHEL: Buy| Target Rs 150| Stop Loss Rs 118
Granules India: Buy| Target Rs 360| Stop Loss Rs 184
Hindust
