Stocks to buy today: Titan, RIL among top 7 trading ideas for 6 June 2023

Indian market is expected to consolidate on Tuesday tracking mixed global cues.

The S&P BSE Sensex rose more than 200 points while the Nifty50 closed just below 18600 levels on Monday.

India VIX was up by 0.16% from 11.12 to 11.13 levels on Monday. Volatility is marginally up but it has been cooling off which in turn is creating swings within a smaller range in the indices.

On the options front, the weekly maximum Call OI is placed at 18600 and then towards 18700 strikes while the maximum Put OI is placed at 18500 and then towards 18600 strikes.

Call writing is seen at 18700 then 18650 strikes while Put writing is seen at 18500 then 18400 strikes.

“Options data suggests a broader trading range in between 18300 to 18800 zones while an immediate trading range in between 18400 to 18700 zones,” Chandan Taparia, Analyst-Derivatives at Motilal Oswal Financial Services Limited, said.

“Nifty formed a small-bodied candle on the daily scale on Monday and negated its lower highs formation of the last three sessions to close with gains of around 60 points,” he said.

“Now, the Nifty50 has to hold the support of 18580 zones to witness an up move towards 18750 and 18888 zones while on the downside support exists at 18480 and 18442 zones,” recommended Taparia.

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

Expert: Dharmesh Shah, Head – Technical, ICICI Securities told ETBureau

Reliance Industries Ltd: Buy| Target Rs 2560| Stop Loss Rs 2414

Titan Company: Buy| Target Rs 2955| Stop Loss Rs 2790

IndusInd Bank: Buy| Target Rs 1355| Stop Loss Rs 1265

Deepak Nitrite: Buy| Target Rs 2215| Stop Loss Rs 2055

Expert: Kunal Bothra, Market Expert told ETNow

Mahindra & Mahindra: Buy| Target Rs 1440| Stop Loss Rs 1370

BHEL: Buy| Target Rs 90| Stop Loss Rs 82

RBL Bank: Buy| Target Rs 188| Stop Loss Rs 165

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