Stocks to buy : top 6 short-term trading ideas by experts for 12 August

Indian market fell in opening trade on Friday tracking mixed global cues. The S&P BSE Sensex was down by over 100 points while the Nifty50 hold 17600 levels in the first 15 minutes of trade.

Sectorally, buying was seen in realty, metals, oil & gas, and energy stocks while some selling was seen in healthcare, IT, auto, FMCG, and banks.

The Nifty50 failed to hold on to 17,700 levels on Thursday, but experts feel that the momentum remains strong and 17,800 looks an achievable target. Traders can look at buying the dip.

"Nifty showed some signs of sell-on-news as the morning gains could not be sustained. There are no new data points on the horizon which can impact the Nifty in the near term," Deepak Jasani, Head of Retail Research, HDFC Securities, said.

"We are getting close to the end of the results season and hence micro moves may also be fewer and far between from now on. Given the upward momentum, Nifty could now rise to 17779-17842 band in this upmove," he said.

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

Expert: Nooresh Merani, an independent technical analyst told ETNow

Jubilant FoodWorks: Buy| Target Rs 650| Stop Loss Rs 570

United Spirits: Buy| Target Rs 858| Stop Loss Rs 765

Chalet Hotels: Buy| Target Rs 400| Stop Loss Rs 310

Expert: Chandan Taparia, Derivative & Technical Analyst, MOSL told ETNow

Indian Hotels: Buy| Target Rs 290| Stop Loss Rs 270

Oberoi Hotels: Buy| Target Rs 979| Stop Loss Rs 910

Poonawalla Fincorp: Buy| Target Rs 300| Stop Loss Rs 270

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