Stocks to buy today: 9 short-term trading ideas by experts for 18 December, 2023

Indian headline indices hit fresh lifetime highs on Friday ending with weekly gains of 2.7% on a dovish pivot by the US Fed. The biggest gainers were IT and bank stocks. Nifty hit a new lifetime high of 21,492.30 before ending the session at 21,456.65, up 273.95 points or 1.29%. The 30-stock S&P BSE Sensex scaled 71,483.75 and ended with 969.55 points gains or 1.37% at 70,514.20.

India VIX, a measure of volatility in Nifty, was at 13.13 on Friday, down 6.55%.

For today, analyst Rupak De, LKP Securities said that the prevailing sentiment appears strongly in favor of the bulls, as indicated by the absence of any reversal signals on the technical charts. Resistance is observed at 21,500, while a potential further rally in the Nifty could occur upon breaching this level, he said, adding that the support is currently positioned at 21,300.

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

Expert: Aakash K Hindocha, Assistant Vice President, Research told ETBureau
Ambuja Cements: Buy | Target: Rs 557 | Stop Loss: Rs 502 | Last Close: Rs 522

Indian Oil Corporation (IOC): Buy | Target: Rs 132.50 | Stop Loss: Rs 119.50 | Last Close: Rs 123.80

Glenmark Pharma: Buy | Target: Rs 883 | Stop Loss: Rs 796 | Last Close: Rs 825

Tata Steel: Buy | Target: Rs 146 | Stop Loss: Rs 131.75 | Last Close: Rs 136.50

Expert: Nooresh Merani, an independent technical analyst told ETNow

ONGC: Buy | Target Rs 220 | Stop Loss Rs 196

Federal Bank: Buy | Target Rs 175 | Stop Loss Rs 152

Expert: Kunal Bothra, Market Expert told ETNow

Tata Motors: Buy | Target Rs 780 | Stop Loss Rs 710

SBI: Buy | Target Rs 680 | Stop Loss Rs 625

Amber Enterprises: Buy | Target Rs 3,500 | Stop Loss Rs 3,200

(You can now subscribe to our ETMarkets WhatsApp channel)

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

Source link

Leave a comment