Stocks to buy or sell today: 6 short-term trading ideas by experts for 11 January 2023

Indian market is likely to trade higher on Wednesday, tracking positive global cues but could face selling pressure at higher levels.

The S&P BSE Sensex fell more than 600 points while the Nifty50 closed below 18000 levels on Tuesday.

India VIX was up by 5.87% from 14.65 to 15.51 levels. Volatility fueled up and gave way for the bears. It needs to cool down below 14 zones for stability to resume.

On the options front, the weekly maximum Call OI is placed at 18000 and then towards 18100 strikes while the maximum Put OI is placed at 17700 and then towards 17900 strikes.

“Options data suggests a shift in the trading range in between 17600 to 18300 zones while an immediate trading range in between 17700 to 18200 zones,” Chandan Taparia, Analyst-Derivatives at Motilal Oswal Financial Services Limited, said.

“Nifty formed a Bearish Belt Hold candle on the daily scale on Tuesday and gave up all its gains of the previous session,” he said.

“Till it holds below 18018 zones, weakness could be seen towards 17777 and 17650 zones whereas hurdles are placed at 18018 and 18123 zones,” recommends Taparia.

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

Expert: Nagaraj Shetti, Technical and Derivative Analyst, HDFC Securities told ETBureau

Syngene: Buy| Target Rs 642| Stop Loss Rs 595
The daily RSI is in an attempt of moving above 60 levels and volume has started to expand during upmove.

Zydus Life: Buy| Target Rs 488| Stop Loss Rs 442
The stock price is in an attempt of a decisive upside breakout of resistance of top of Nov at Rs 454 levels.

Expert: Kunal Bothra, Market Expert told ETNow

ICICI Bank: Sell| Target Rs 840| Stop Loss Rs 875

Zydus Life: Buy| Target Rs 475| Stop Loss Rs 442

Expert: Nooresh Merani, an independent technical analyst told ETNow

Petronet LNG: Buy| Target Rs 240| Stop Loss Rs 214

InterGlobe Aviation: Buy| Target Rs 2200| Stop Loss Rs 1980

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