Stocks to buy today: HDFC Indiabulls Housing among 10 trading ideas for 22 June 2023 - Economic Times

The Indian market is likely to consolidate on Thursday amid mixed global cues.

The S&P BSE Sensex rose nearly 200 points while the Nifty50 closed above 18,850 levels to a fresh record closing high on Wednesday.

India VIX was up by 1.44% from 11.13 to 11.29 levels on Wednesday. Volatility was slightly on the rise but moved in its previous day’s range. It has been hovering in a rather smaller range for the last few weeks.

On the options front, the weekly maximum Call OI is placed at 19,000 and then towards 18,900 strikes while the maximum Put OI is placed at 18,800 and then towards 18,700 strikes.

Call writing is seen at 18,900 then 19,000 strikes while Put writing is seen at 18800 then 18850 strikes.

“Options data suggests a shift in a broader trading range in between 18,600 to 19,000 zones while an immediate trading range in between 18700 to 18950 zones,” Chandan Taparia, Analyst-Derivatives at Motilal Oswal Financial Services Limited, said.
“Nifty formed a Doji sort of candle on the daily frame with a longer lower shadow on Wednesday. Now it has to hold above 18818 zones to witness an up move towards 18,888 and 19,000 zones while on the downside support exists at 18786 and 18710 zones,” recommends Taparia.We have collated stocks from various experts for traders who have a short-term trading horizon:

Expert: Rajesh Palviya, VP-Technical & Derivative Research, Axis Securities told ETBureau

HDFC Ltd: Buy| Target Rs 2850| Stop Loss Rs 2630

Ambika Cotton: Buy| Target Rs 1880| Stop Loss Rs 1558

Happiest Minds: Buy| Target Rs 1120| Stop Loss Rs 945

Indiabulls Housing Finance: Buy| Target Rs 145| Stop Loss Rs 109

Expert: Nooresh Merani, an independent technical analyst told ETNow

Hero MotoCorp: Buy| Target Rs 3200| Stop Loss Rs 2750

Tata Chemicals: Buy| Target Rs 1100| Stop Loss Rs 970

Samvardhana Motherson: Buy| Target Rs 100| Stop Loss Rs 83

Expert: Kunal Bothra, Market Expert told ETNow

Tata Chemicals: Buy| Target Rs 1040| Stop Loss Rs 975

PFC: Buy| Target Rs 225| Stop Loss Rs 200

GSFC: Buy| Target Rs 176| Stop Loss Rs 158

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

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Stocks to buy today: HDFC, Indiabulls Housing among 10 trading ideas for 22 June 2023 - Economic Times
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