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Stocks to buy today: 10 short-term trading ideas by experts for 18 August

Indian markets opened on a subdued note on Thursday tracking muted global cues. The S&P BSE Sensex fell over 100 points while the Nifty50 held on to crucial support of 17,900 levels in the first 15 minutes of trade.

Sectorally, buying was seen in realty, utilities, power, consumer discretionary, and consumer durables while selling was visible in healthcare, IT, oil & gas, and energy stocks.

Indian market could recoup losses and Nifty50 could well head towards 18,000 levels, suggest experts.

“As we re-approach the psychological mark of 18,000, the evolution of VIX would be crucial. The favoured view continues to expect Nifty to head into the 18100-18200 before any major attempt to reverse,” Anand James – Chief Market Strategist at , said.

“Downside markers may be pushed higher towards 17835-17845 for intraday trades, but just as we maintained on Wednesday that there are not enough signs of topping out, for which reason, we will continue to maintain the 17,660 region as the main reversal point,” he said.

The highest new OI addition was seen at 18000 for Calls and 17500 for Puts in weekly and at 18000 for Calls and 17500 for Puts in monthly contracts.

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

Expert: Rajesh Palviya, VP – Technical & Derivative Research, Axis Securities told ETBureau

Route Mobile: Buy| Target Rs 1750| Stop Loss Rs 1435

“Flag formation” breakout along with huge volumes and the stock is sustaining above the 20-,50- and 100-day SMAs is a positive sign for the bulls.

Kajaria Ceramics: Buy| Target Rs 1300| Stop Loss Rs 1105

The stock is making a series of higher tops and bottoms with rising volumes and is also sustaining above the 20,50, 100 and 200-Day SMAs which is a positive signs for the bulls.

Blue Star: Buy| Target Rs 1160| Stop Loss Rs 975

The stock formed an “Inverse Head & Shoulder” pattern at Rs 1037 and is sustaining above the 20,50, 100 and 200-Day SMAs.

Force Motors: Buy| Target Rs 1485| Stop Loss Rs 1150

The stock formed a “Rounding Bottom” formation breakout at 1,200 levels accompanied with huge volumes.

Expert: Kunal Bothra, Market Expert told ETNow

BPCL: Buy| Target Rs 366| Stop Loss Rs 344

Life: Buy| Target Rs 420| Stop Loss Rs 390

Havells India: Buy| Target Rs 1400| Stop Loss Rs 1320

Expert: Nooresh Merani, independent technical analyst told ETNow

Hero MotoCorp: Buy| Target Rs 3300| Stop Loss Rs 2850

Jubilant FoodWorks: Buy| Target Rs 660| Stop Loss Rs 590

Bandhan Bank: Buy| Target Rs 320| Stop Loss Rs 278

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

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