Stocks to buy today: Tata Power HPCL among 7 short-term trading ideas by experts for 3 July 2023 - Economic Times

Indian frontline indices S&P BSE Sensex and Nifty50 recorded their new all-time highs and ended Friday with gains. While the 30-stock Sensex closed at 64,719, up by 803 points or 1.26%, the broader Nifty50 finished at 19,189, higher by 217 points or 1.14%. Banking gauge Nifty Bank settled with gains of 419 points or nearly 1%.

Volatility was lower from Friday's closing as India VIX was at 10.80, down 0.80%.

"Domestic equities continued their northbound journey on Friday after a day’s break, supported by positive global data, healthy FII buying, and strong progress in monsoon. The broader market too participated in the rally with the Nifty midcap 100 at a fresh record high. All sectors ended in the green, except metals. Auto, IT, PSU Bank, and Pharma were the front-runners," Siddhartha Khemka, Head - of Retail Research at Motilal Oswal Financial Services said.

He said that Nifty ended June with gains of 3.5% on the back of strong FIIs flow (Rs 20,900 crore MTD) and the advance of the southwest monsoon that boosted investor sentiments.

The Motilal Oswal analyst expects the uptrend in Indian equities to continue in the near term. The auto sector is expected to be in the limelight, as companies would release monthly sales data. The markets are likely to take cues from economic data to be released locally as well as globally. Investors would also watch out for FOMC minutes to get insights into the US Central Bank’s future course of direction, Khemka said.

We have collated stocks from various experts for traders who have a short-term trading horizon:
Expert: Parag Shah, Technical Analyst Research at Nuvama told ETBureau
Bharat Forge: Buy | Target: Rs 900 | Stop Loss: Rs 807 | Last Close: Rs 837
Hindustan Petroleum (HPCL): Buy | Target: Rs 293 | Stop Loss: Rs 273.50 | Last Close: Rs 263.75

Tata Power: Buy | Target: Rs 237.50 | Stop Loss: Rs 214 | Last Close: Rs 221.80

Granules India: Buy | Target: Rs 318 | Stop Loss: Rs 286.50 | Last Close: Rs 297.20

Expert: Nooresh Merani, an independent technical analyst told ETNow
Bharat Forge: Buy | Target Rs 920 | Stop Loss Rs 820

Bandhan Bank: Buy | Target Rs 275 | Stop Loss Rs 233

RBL Bank: Buy | Target Rs 210 | Stop Loss Rs 173

(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: Tata Power, HPCL among 7 short-term trading ideas by experts for 3 July, 2023 - Economic Times
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