Indian market opened higher on Monday despite muted global cues. The S&P BSE Sensex rallied more than 200 points to reclaim 59,000 mark while the Nifty50 also rose above 17,600 levels in the first 15-minutes of trade.
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Sectorally, buying was seen in metals, telecom, realty, banks and finance stocks while selling was seen in healthcare, auto, FMCG, and oil & gas stocks.
Highest new OI addition was seen at 18000 for Calls and 17000 for Puts in weekly and at 17500 for Calls and 16000 for Puts in monthly contracts.
“The week opens with a modest downside objective of 17440-17370, before allowing a chance for bulls to fight back. Inability to push beyond 17580, would however bring the 17000-16650 region again in play,” Anand James – Chief Market Strategist at , said.
We have collated stocks from various experts for traders who have a short-term trading horizon:
Expert: Chandan , Derivative & Technical Analyst, told ETBureau
L&T: Buy| Target Rs 2020| Stop Loss Rs 1900
The stock has been making higher lows over the last 10 weeks and is moving unilaterally and sustaining upwards despite volatile swings.
TVS Motor: Buy| Target Rs 1070| Stop Loss Rs 1005
The stock made a strong bullish candle on the weekly frame and is making higher highs from the last six months which is a positive sign.
HAL: Buy| Target Rs 2470| Stop Loss Rs 2320
A breakout on its weekly frame and follow-up buying at higher zones as it closed with higher volumes auger well for the bulls.
ITC: Buy| Target Rs 340| Stop Loss Rs 314
The stock is making higher top – higher bottom over the last few months and has made a strong Bullish candle on the weekly frame.
Expert: Kunal Bothra, Market Expert told ETNow
Buy or Sell: Stock ideas by experts for September 05, 2022
ET Now spoke to various experts, and here’s what they recommend for today’s trading session. Nooresh Merani has a buy/sell recommendation on SBI and Welspun, while Kunal Bothra had buy/sell advice on LIC Housing and NCC for today’s trading session. Check out the targets and stop loss.
LIC Housing Finance: Buy| Target Rs 440| Stop Loss Rs 400
NCC: Buy| Target Rs 77| Stop Loss Rs 67
Mahindra Holidays: Buy| Target Rs 300| Stop Loss Rs 276
Expert: Nooresh Merani, an independent technical analyst told ETNow
SBI: Buy| Target Rs 570| Stop Loss Rs 525
Welspun Corp: Buy| Target Rs 280| Stop Loss Rs 225
Mahindra Holidays: Buy| Target Rs 330| Stop Loss Rs 265
(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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