Stock to buy today: 9 short-term trading ideas by experts for 16 August - Economic Times

Indian market started on a strong note on Tuesday tracking positive global cues. The S&P BSE Sensex rose more than 300 points while the Nifty50 also climbed above 17700 levels in the first 15 minutes of trade.

Sectorally, buying was seen in auto, realty, consumer discretionary, and banks while some selling was seen in metals and basic material stocks.

The momentum looks strong and the Nifty50 index is set to climb 18000 levels in the current series, suggest experts.

The highest new OI addition was seen at 17,800 for Calls and 17,000 for Puts in weekly and at 18,000 for Calls and 17,500 for Puts in monthly contracts.

“We are keen on opening this week with eyes set on 18200, but would remain watchful though on approach to 17835, the congestion point discussed on Friday,” Anand James - Chief Market Strategist at

, said.

“Inability to clear or float above the same after the initial burst could be seen as a sign of weakness setting in, but we would wait for a push below 17,660 before switching sides,” he added.

We have collated stocks from various experts for traders who have a short-term trading horizon:

Expert: Chandan

, Derivative & Technical Analyst, MOSL told ETBureau
Tata Steel: Buy| Target Rs 119| Stop Loss Rs 110
The stock recorded a Pole and flag breakout on the daily frame and has been consistently positive from the last two months.

RIL: Buy| Target Rs 2750| Stop Loss Rs 2575
The stock has been making higher lows from the last five weeks and crossed. It closed above the past resistance zone which is a positive sign for the bulls.

SBI: Buy| Target Rs 555| Stop Loss Rs 520
Recently, the stock took support at its 50-Days EMA and is set to move higher after the pullback on the daily frame.

Trent: Buy| Target Rs 1444| Stop Loss Rs 1350
The stock is making higher highs – higher lows over seven sessions with price volume breakout on the daily frame.

Expert: Kunal Bothra, Market Expert told ETNow

Piramal Enterprises: Buy| Target Rs 2000| Stop Loss Rs 1850

CE Info System (MapMyIndia): Buy| Target Rs 1400| Stop Loss Rs 1340

Expert: Nooresh Merani, independent technical analyst told ETNow

United Spirits: Buy| Target Rs 870| Stop Loss Rs 765

NTPC: Buy| Target Rs 175| Stop Loss Rs 155

Bata India: Buy| Target Rs 2200| Stop Loss Rs 1870

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)

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Stock to buy today: 9 short-term trading ideas by experts for 16 August - Economic Times
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