Stocks to buy today: 8 short-term trading ideas by experts for 12 May 2023

Indian market is likely to consolidate on Friday tracking muted global cues. The S&P BSE Sensex and the Nifty50 closed flat with a negative bias on Thursday.

India VIX was up by 1.03% from 13.08 to 13.21 levels on Thursday. Volatility has been rising from the last four sessions and creating swings in the market.

On the options front, the weekly maximum Call OI is placed at 18500 and then towards 18600 strikes while the maximum Put OI is placed at 18300 and then towards 18200 strikes.

Call writing is seen at 18300 then 18500 strikes while Put writing is seen at 18300 then 18100 strikes.

“Options data suggests a broader trading range in between 17900 to 18500 zones while an immediate trading range in between 18150 to 18450 zones,” Chandan Taparia, Analyst-Derivatives at Motilal Oswal Financial Services Limited, said.

“Nifty formed a Bearish candle on the daily scale on Thursday. It has to continue to hold above 18250 zones to witness an up move towards 18400 and 18442 zones while on the downside supports are placed at 18181 and 18081 marks,” he recommends.

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

Expert: Pritesh Mehta, Lead Technical Analyst – Institutional Equities at YES Securities told ETBureau

Axis Bank: Buy| Target Rs 935| Stop Loss Rs 875

NTPC: Buy| Target Rs 189| Stop Loss Rs 174

Tata Power: Buy| Target Rs 226| Stop Loss Rs 196

Expert: Nooresh Merani, an independent technical analyst told ETNow

Axis Bank: Buy| Target Rs 970| Stop Loss Rs 875

Coal India: Buy| Target Rs 255| Stop Loss Rs 230

Gujarat Gas: Buy| Target Rs 530| Stop Loss Rs 465

Expert: Kunal Bothra, Market Expert told ETNow

Aditya Birla Fashion and Retail: Buy| Target Rs 216| Stop Loss Rs 193

Hindustan Unilever: Buy| Target Rs 2750| Stop Loss Rs 2500

Gujarat State Petronet: Buy| Target Rs 315| Stop Loss Rs 275

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