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    Stocks to buy: 5 short-term trading ideas by experts for 3 February 2023

    Synopsis

    “Options data suggests a broader trading range in between 17200 to 18200 zones while an immediate trading range in between 17350 to 17900 zones due to higher volatility,” Chandan Taparia, Analyst-Derivatives at Motilal Oswal Financial Services Limited, said.

    Stocks to buy today: 5 short-term trading ideas by experts for 3 February 2023iStock
    Indian market is expected to trade higher on Friday tracking positive global cues.

    S&P BSE Sensex rallied more than 200 points while Nifty50 ended flat with a negative bias on Thursday.

    India VIX moved down by 6.24% from 16.78 to 15.73 levels on Thursday. Volatility cooled down from higher levels and needs to hold below 14 zones for market stability.

    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 17600, and then towards 17300 strikes.

    “Options data suggests a broader trading range in between 17200 to 18200 zones while an immediate trading range in between 17350 to 17900 zones due to higher volatility,” Chandan Taparia, Analyst-Derivatives at Motilal Oswal Financial Services Limited, said.

    “Nifty formed a Bullish candle on a daily scale with the longer lower shadow which indicates buying interest on declines amidst volatile swings during the day,” he said.

    “The index now needs to cross and hold above 17650 zones, for an up move towards 17777 then 17950 zones whereas supports are placed at 17500 and 17350 zones,” added Taparia.

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

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

    SBI Cards: Buy| Target Rs 800| Stop Loss Rs 702
    Post downtrend, the stock has formed multiple bullish candles in the recent past. Current chart setup suggests that the stability is likely to continue.

    KEC International: Buy| Target Rs 530| Stop Loss Rs 435
    After losing about 17% off the recent low, the stock found renewed buying interest near its December low.

    Bharti Airtel: Buy| Target Rs 840| Stop Loss Rs 733
    The stock has held levels of 755 in the recent past. Positive follow-up action above 780 could resume.

    Expert: Kunal Bothra, Market Expert told ETNow

    Atul Auto: Buy| Target Rs 366| Stop Loss Rs 328

    Expert: Nooresh Merani, an independent technical analyst told ETNow

    RBL Bank: Buy| Target Rs 180| Stop Loss Rs 148

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



    ( Originally published on Feb 03, 2023 )
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    Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price

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    (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

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