Stocks to buy or sell: 9 short-term trading ideas by experts for Wednesday 28 September 2022

The Indian market opened lower on Wednesday tracking weak global cues. The S&P BSE Sensex fell over 500 points while the Nifty50 slipped below 16900 in the first 15-minutes of trade.

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

The highest new OI addition was seen at 17000 for Calls and 17,000 for Puts in weekly and at 17,100 for Calls and 16,900 for Puts in monthly contracts, according to analysts.

The next crucial support for the index is placed at 16,800 levels. A close below the same could push the Nify50 towards 16,300 levels, suggest experts.

“There were several upside attempts after achieving the 17,160 target, but all of them were rejected summarily, confirming further downsides aiming for 16,860,” Anand James - Chief Market Strategist at Geojit Financial Services, said.

“Achievement of 16,860 could give bulls a realistic chance to regroup. Failure to do so would open up falls towards 16,650-16,300,” he added.

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

Expert: Gauav Ratnaparkhi, Head Technical Research, Sharekhan by BNP Paribas told ETBureau

TCS: Buy| Target Rs 3130-3250| Stop Loss Rs 2925
The stock has tested the July low, where it is getting fresh buying support.

Dr LAL Pathlab: Buy| Target Rs 2750-2875| Stop Loss Rs 2540
The daily & weekly momentum indicators are in bullish mode

PEL (FUT): Sell| Target Rs 840-800| Stop Loss Rs 915
The stock broke below multiple short-term supports on the way down. Momentum indicators suggest more weakness

Expert: Kunal Bothra, Market Expert told ETNow

Muthoot Finance: Buy| Target Rs 1060| Stop Loss Rs 990

Ipca Laboratories: Buy| Target Rs 935| Stop Loss Rs 885

Torrent Power: Buy| Target Rs 530| Stop Loss Rs 480

Expert: Nooresh Merani, an independent technical analyst told ETNow

M&M: Buy| Target Rs 1350| Stop Loss Rs 1200

Indian Hotels: Buy| Target Rs 360| Stop Loss Rs 315

United Spirits: Buy| Target Rs 950| Stop Loss Rs 835

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