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    Stocks to buy today: RIL, HUL among top 10 trading ideas by experts for 30 May 2023

    Synopsis

    Indian markets may consolidate on Tuesday following mixed global cues. The Sensex gained over 300 points with Nifty50 closing just below 18600 levels. India VIX rose 3.34% from 11.90 to 12.29 on Monday, indicating some consolidation in record-high index levels amid the start of the new series. Options data reveals a potential trading range of 18300 to 18800 zones, with minor call writing seen at 18700 to 18800 strikes, and put writing at 18400 to 18300 strikes. Several experts recommend short-term trades in select companies.

    Stocks to buy today: RIL, HUL among top 10 trading ideas by experts for 30 May 2023ETMarkets.com

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

    The S&P BSE Sensex rose more than 300 points while the Nifty50 closed just a shade below 18600 levels on Monday.

    India VIX was up by 3.34% from 11.90 to 12.29 levels on Monday. Volatility was slightly up and thus giving some consolidation at record-high index levels

    Since it is the beginning of the new series, Options data is scattered at various far strikes in the monthly series of June.

    On the weekly front, the maximum Call OI is placed at 18600 and then towards 18700 strikes while the maximum Put OI is placed at 18300 and then towards 18400 strikes.

    Minor Call writing is seen at 18700 then 18800 strikes while Put writing is seen at 18400 then 18300 strikes.

    “Options data suggests a broader trading range in between 18300 to 18800 zones while an immediate trading range in between 18400 to 18750 zones,” Chandan Taparia, Analyst-Derivatives at Motilal Oswal Financial Services, said.

    “Nifty formed a small-bodied Bearish candle on a daily scale and gave the highest daily close of the last 111 sessions on Monday,” he said.

    “Now, the index has to hold above 18500 zones, for an up move towards 18650 and 18888 zones while on the downside support exists at 18442 and 18333 zones,” recommended Taparia.

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

    Expert: Ajit Mishra, VP-Technicals, Religare Broking told ETBureau

    BEL: Buy| Target Rs 119| Stop Loss Rs 107

    Coal India: Buy| Target Rs 260| Stop Loss Rs 240

    Deepak Nitrite: Buy| Target Rs 2280| Stop Loss Rs 1990

    Hindustan Unilever: Buy| Target Rs 3980| Stop Loss Rs 2600

    Expert: Nooresh Merani, an independent technical analyst told ETNow
    Hero MotoCorp: Buy| Target Rs 3000| Stop Loss Rs 2730

    Tata Power: Buy| Target Rs 245| Stop Loss Rs 208

    RBL Bank: Buy| Target Rs 175| Stop Loss Rs 147

    Expert: Kunal Bothra, Market Expert told ETNow
    IDFC First Bank: Buy| Target Rs 78| Stop Loss Rs 66

    Reliance Industries: Buy| Target Rs 2650| Stop Loss Rs 2470

    Eveready Industries: Buy| Target Rs 360| Stop Loss Rs 320

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



    (What's moving Sensex and Nifty Track latest market news, stock tips and expert advice, on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .)

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    Subscribe to The Economic Times Prime and read the Economic Times ePaper Online.and Sensex Today.

    Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price

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    (What's moving Sensex and Nifty Track latest market news, stock tips and expert advice, on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .)

    Download The Economic Times News App to get Daily Market Updates & Live Business News.

    Subscribe to The Economic Times Prime and read the Economic Times ePaper Online.and Sensex Today.

    Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price

    ...more
    The Economic Times

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