Sectorally, buying was seen in the public sector, utilities, oil & gas, and power stocks while selling pressure was visible in healthcare, consumer durables, realty, and telecom stocks.
Experts see markets likely to trade in the range ahead of the US Federal Reserve meeting which is due later this week.
On the technical front, 17400-17000 is likely to act as crucial support while on the upside 17700-17800 are likely to act as stiff resistance levels, suggest experts.
The highest new OI addition was seen at 19000 for Calls and 17000 for Puts in weekly and at 18000 for Calls and 16500 for Puts in monthly contracts, they added.
“We had gone into last Friday with a downside objective of 17460. The easing of downside momentum after being in the 17500 vicinity encourages us to hunt for upsides,” Anand James – Chief Market Strategist at
“However, as maintained on Friday, inability to clear17860 on the bounce could signal extended downsides, towards 17000 initially,” he said.
We have collated stocks from various experts for traders who have a short-term trading horizon:
Expert: Chandan , Derivative & Technical Analyst, Fin Services told ETBureau
: Buy| Target Rs 9600| Stop Loss Rs 8989
The stock is making higher highs from the last five months and a breakout from weekly consolidation is positive for the bulls.
: Buy| Target Rs 1280| Stop Loss Rs 1200
The stock recorded a price-volume breakout on the weekly frame and remained resilient despite market dullness.
PVR: Sell| Target Rs 1680| Stop Loss Rs 1800
The stock formed a Bearish Engulfing pattern on the weekly frame and broke its immediate support zones.
L&T Technology Services: Sell| Target Rs 3300| Stop Loss Rs 3500
The stock recorded a breakdown on the daily frame and broke below its 50-Days EMA with a breakdown on the weekly frame.
Expert: Brokerage Securities told ETMarkets
: Buy| Target: Rs 854| Stop Loss: Rs 802
For Monday’s trade, long position can be initiated in the range of Rs 821- 815 for the target of Rs854 with a strict stop loss of Rs 802.
: Sell| Target Rs 3,060| Stop Loss Rs 3,310
Short positions can be initiated in the range of Rs 3,215-3,230 for the target of Rs 3,060 with a strict stop loss of Rs 3,310.
: Sell| Target Rs 1,026| Stop Loss Rs 1,069
Short position can be initiated in the range of Rs1,054-1,059 for the target of Rs 1,026 with a strict stop loss of Rs 1,069.
Expert: Kunal Bothra, Market Expert told ETNow
Buy or Sell: Stock ideas by experts for September 19, 2022
ET Now spoke to various experts and here’s what they have to recommend for today’s trading session. Nooresh Merani has a buy/sell recommendation on Sun Pharma and Titan while Kunal Bothra has buy/sell recommendation on BPCL and IndusInd Bank for today’s trading session. Check out the targets and stoploss.
IndusInd Bank: Buy| Target Rs 1300| Stop Loss Rs 1170
: Sell| Target Rs 310| Stop Loss Rs 327
: Buy| Target Rs 748| Stop Loss Rs 696
Expert: Nooresh Merani, an independent technical analyst told ETNow
: Buy| Target Rs 920| Stop Loss Rs 855
: Buy| Target Rs 480| Stop Loss Rs 400
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)