Stocks to buy today: 5 short-term trading ideas from experts for July 8

Indian market started on a strong note on Friday tracking positive global cues. The S&P BSE Sensex rallied over 300 points in the first 15-minutes of trade while the Nifty50 reclaimed 16200 levels.

On the sectoral front, buying was seen in auto, capital goods, banks, utilities, and power stocks while selling was visible in metals and realty stocks.

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

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

1) Cummins India: Buy| Target Rs 1,320| Stop Loss Rs 1,070
The stock formed a low pole pattern. It recorded a bullish turtle breakout on the P&F chart. We expect the follow-through move to continue.

2) Axis Bank: Buy| Target Rs 730| Stop Loss Rs 630
It is bouncing off from its 4-year mean support, which is also coinciding with the demand zone. The price seems to be defending the 3-digit Gann number of 625.

3) Nippon Life India Asset Management: Buy| Target Rs 310| Stop Loss Rs 272
The stock has confirmed an ABC bullish breakout on the P&F chart post a period of consolidation at the bottom.

Expert: Kunal Bothra, Market Expert told ETNow

Also Watch
4) City Union Bank: Buy| Target Rs 150| Stop Loss Rs 141.50

5) IndusInd Bank: Buy| Target Rs 890| Stop Loss Rs 848

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