Stocks to buy: Stocks to buy or sell today: 4 expert short-term trading ideas for December 30, 2022

Indian markets are expected to trade higher on Friday following positive signs across the globe. S&P BSE Sensex rallied more than 200 points while Nifty50 closed just below 18,200 on Thursday.

On the industry front, buying is seen in oil and gas, metals, energy, banking and utilities while selling is seen in consumer durables, capital goods and FMCG stocks.

India VIX fell 3.81% from 15.40 to 14.81 on Thursday. Volatility cools down below 15 and gives way to the bulls as we close the price sequence.

The Nifty50 index broke through the key hurdle at 18,181 in the previous session, which is a positive sign for the bulls. Experts believe that the next resistance level of the index is 18,300-18,400.

“Nifty formed a Bullish Engulfing candle on a daily scale with a long lower shadow indicating support-based buying activity. It has been hitting higher highs in the last four sessions and support is moving higher,” Chandan

Derivatives analyst at Limited, said.

“Now it must continue to hold above the 18181 zones, to advance towards the 18350 and 18442 levels while the support levels are located at the 18081 and 18018 levels,” he said.

Options data is scattered at various far-flung strikes during January’s monthly series. In terms of options, max call openness is seen at 19,000, then head towards 19,500 executions while max put open is seen at 18,000 and then towards 17,500 executions. “Options data shows a wider trading range between 17,700 and 18,600 zones while the immediate trading range is between 17,950 and 18,400 zones,” Taparia emphasized.

We have collated stocks from different experts for traders with short trading hours:

Expert: Shrikant Chouhan, Head of Equity Research (Retail), Kotak Securities told ETBureau

: Buy| Target 1075 Rs| Stop Loss 1025 Rs

The stock is in an accumulation phase and the recent bullish candle shows a strong reversal.

: Buy| Target 960 Rs| Stop Loss Rs 920

The stock broke out of a triangle with a bullish engulfing candle indicating an uptrend.

: Buy| Target 116 Rs| Stop Loss 109 Rupees

The stock has formed an inverted head and shoulders pattern on an intraday scale and is trading near a neckline, suggesting a strong breakout.

: Buy| Target 2650 Rs| Stop Loss 2525 Rs

The stock is trading near a key retracement area, which indicates a reversal and resumption of the uptrend.

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


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