Stocks to buy or sell today: 8 short-term trading ideas by experts for Monday 26 September 2022

Indian markets opened lower on Monday tracking weak global cues. The S&P BSE Sensex plunged by more than 500 points while the Nifty50 broke below 17200 levels in the first 15-minutes of trade.

Sectorally, selling pressure was seen in utilities, power, metals, auto, realty, and capital goods space.

Tracking the weakness, the rupee also hit a fresh record low against the US Dollar in morning trade. The rupee on Monday opened 0.68% lower to hit a fresh record low of 81.55 against the greenback. Also Read

Experts advise investors to remain cautious and buy the dip towards June lows as the global macro setup may weigh on equities.

“The global macro construct is not favourable for equity markets in the short run. The dollar index above 113 and the US 10-year yield at 3.73 % is likely to aggravate FPI outflows which have been gathering momentum during the last 3 days,” Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services, said.

“Buy on dips strategy which worked since the June lows need not work now. Investors have to be cautious and remain vigilant,” he said.

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

Expert: Sagar Doshi, Technical Head, Research, Edelweiss told ETBureau

Sun Pharma: Buy| Target Rs 975| Stop Loss Rs 880
The Pharma sector is showing respite. Sun Pharma has given a bullish breakout from the weekly flag pattern.

IPCA Laboratories: Buy| Target Rs 930| Stop Loss Rs 855
Multiple bullish divergences are visible on the daily chart. Price may be trading near its bottom zone.

Indus Tower (OCT Fut): Sell| Target Rs 170| Stop Loss Rs 202
The daily chart is showing three black crow patterns, confirming the weekly breakdown.

MFSL (OCT): Sell| Target Rs 720| Stop Loss Rs 815
The stock failed to cross the 20-DMA on the monthly chart suggesting that the weak trend is likely to continue.

Expert: Kunal Bothra, Market Expert told ETNow

United Spirits: Buy| Target Rs 920| Stop Loss Rs 855

Sun Pharma: Buy| Target Rs 980| Stop Loss Rs 880

Voltas: Buy| Target Rs 940| Stop Loss Rs 880

Expert: Chandan Taparia, Vice President, Analyst-Derivatives at Motilal Oswal Financial Services Limited told ETNow

Sun Pharma: Buy| Target Rs 965| Stop Loss Rs 895

Au Small Finance Bank: Sell| Target Rs 610| Stop Loss Rs 655

Britannia Industries: Buy| Target Rs 3950| Stop Loss Rs 3700

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