The Economic Times daily newspaper is available online now.

    Stocks to buy or sell today: 5 short-term trading ideas by experts for 9 January 2023

    Synopsis

    On the options front, the weekly maximum Call OI is placed at 18000 and then 18100 strikes while the weekly maximum Put OI is placed at 18000, and then towards 17,600 strikes. Meaningful Call writing is seen at 18000 then 18100 strikes while minor Put writing at 17800 then 17600 strikes.

    Stocks to buy or sell today: 5 short-term trading ideas by experts for 9 January 2023Agencies
    Indian market is expected to trade higher on Monday tracking positive global cues.

    The S&P BSE Sensex fell more than 400 points while the Nifty50 failed to hold on to 17900 levels on Friday.

    India VIX was up by 0.30% from 14.98 to 15.02 levels on Friday. Volatility needs to now cool down below 14 zones for stability to resume, suggest experts.

    On the options front, the weekly maximum Call OI is placed at 18000 and then 18100 strikes while the weekly maximum Put OI is placed at 18000, and then towards 17,600 strikes.

    Meaningful Call writing is seen at 18000 then 18100 strikes while minor Put writing at 17800 then 17600 strikes.

    “Option data suggests a shift in a trading range in between 17600 to 18350 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 candle on the daily scale on Friday and has been making lower highs from the last three sessions. It formed a Bearish candle and an Inside Bar on the weekly frame,” he said.

    “The index has to hold below 17950, weakness could be seen towards 17777 and 17650 zones whereas hurdles are placed at 17950 and 18081 zones,” recommends Taparia.

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

    Expert: Chandan Taparia, Analyst-Derivatives at Motilal Oswal Financial Services Limited told ETBureau
    Balkrishna Industries Ltd: Buy| Target Rs 2310| Stop Loss Rs 2160
    The stock has been making higher highs in the last three months and it recently came out of its range on the weekly frame.

    HDFC Life: Buy| Target Rs 640| Stop Loss Rs 598
    The stock recorded a range breakout on the weekly frame and is holding well after surpassing the hurdle of Rs 600 zones.

    Trent: Sell| Target Rs 1190| Stop Loss Rs 1275
    The stock has been making lower lows from the last four weeks with follow-up selling after a breakdown.

    Expert: Kunal Bothra, Market Expert told ETNow
    Bajaj Electricals: Buy| Target Rs 1300| Stop Loss Rs 1160

    Expert: Nooresh Merani, an independent technical analyst told ETNow
    InterGlobe Aviation: Buy| Target Rs 2200| Stop Loss Rs 1970

    (Disclaimer: Recommendations, suggestions, views and opinions given by the 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 .)

    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


    (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

    Stories you might be interested in