Stocks to buy: 10 short-term trading ideas by experts for 6 March 2023

The Indian market is expected to trade higher on Monday, tracking positive global cues.

S&P BSE Sensex rose nearly 900 points, while Nifty50 closed just a shade below 17,600 levels on Friday.

India VIX moved down by 6.09% from 12.97 to 12.18 levels on Friday. Volatility has been cooling off from the last seven sessions and paved the way for bulls at support zones.

On the weekly options front, the maximum Call OI is placed at 18000 and then towards 17900 strikes while the maximum Put OI is placed at 17500 and then towards 17400 strikes.

“Options data suggests a broader trading range in between 17300 to 17850 zones while an immediate trading range in between 17400 to 17750 zones,” Chandan Taparia, Analyst-Derivatives at Motilal Oswal Financial Services Limited, said.

“Nifty formed a Bullish candle on a daily scale and came out of its consolidative move of the last few sessions. It formed a Bullish candle on the weekly frame with a longer lower shadow indicating buying interest at support zones,” he said.

“Now, it has to hold above 17535 zones, for an up move towards 17777 and 17850 zones whereas supports are placed at 17442 then 17350 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
SBI: Buy | Target: Rs 585 | Stop Loss: Rs 548
PFC: Buy| Target Rs 163 | Stop Loss: Rs 151
ITC: Buy | Target Rs 408 | Stop Loss: Rs 373
ICICI Bank: Buy | Target Rs 910 | Stop Loss: Rs 845

Expert: Kunal Bothra, Market Expert told ETNow
PolicyBazaar: Buy | Target Rs 660 | Stop Loss: Rs 565
Cipla: Buy| Target: Rs 904 | Stop Loss: Rs 860
Ujjivan Financial: Buy | Target Rs 300 | Stop Loss: Rs 266

Expert: Nooresh Merani, an independent technical analyst told ETNow
United Spirits: Buy | Target: Rs 800| Stop Loss: Rs 740
Tata Power: Buy | Target: Rs 230| Stop Loss: Rs 204
L&T Financial Holdings: Buy | Target: Rs 105| Stop Loss: Rs 88

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