Stocks to buy or sell today: 4 short-term trading ideas by experts for 27 March 2023

Indian market is likely to trade higher on Monday tracking positive global cues.

The S&P BSE Sensex fell nearly 400 points while the Nifty50 closed below 17,000 levels on Friday.

India VIX was up by 5.18% from 14.49 to 15.24 levels on Friday. Volatility heated up after declines from the last three sessions and overall gave discomfort to the bulls.

Foreign investors have pumped Rs 7,200 crore into Indian equities so far this month supported by bulk investment in the Adani Group companies.

This came after a net outflow of Rs 5,294 crore in February and Rs 28,852 crore in January, PTI reported. Prior to that, FPIs infused a net amount of Rs 11,119 crore in December, data showed.

On the monthly Options front, the maximum Call OI is placed at 18000 and then toward 17100 strikes while the maximum Put OI is placed at 17000 and then towards 16500 strikes.

“Options data suggests a broader trading range in between 16600 to 17300 zones while an immediate trading range in between 16700 to 17150 zones,” Chandan Taparia, Analyst-Derivatives at Motilal Oswal Financial Services Limited, said.

“Nifty formed a bearish candle on the daily and weekly scale and has been trending lower on account of selling visible at bounce,” he said.

“Now, till Nifty50 holds below 17000 zones weakness could be seen towards 16850 and 16666 zones, while on the upside hurdles are placed at 17071 and 17171 levels,” recommends Taparia.

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

Expert: Sagar Doshi, Technical Analyst Research at Nuvama Wealth told ETBureau

Aurobindo Pharma: Buy| Target Rs 538|Stop Loss Rs 485

Ramco Cement: Buy| Target Rs 790| Stop Loss Rs 715

UPL: Sell| Target Rs 640| Stop Loss Rs 730

GNFC: Sell| Target Rs 476| Stop Loss Rs 544

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