Stocks to buy: 6 short-term trading ideas by experts for 20 April, 2023

India VIX was up by 0.60% from 12.08 to 12.15 levels on Wednesday. Volatility sunk to 11 zones during the session but settled slightly higher.

On the options front, the weekly maximum Call OI is placed at 17700 and then towards 17800 strikes while the maximum Put OI is placed at 17500 and then towards 17400 strikes.

Meaningful Call writing is seen at 17650 then 17750 strike while Put writing is seen at 17600 then 17500 strikes.

“Options data suggests a shift in a trading range in between 17400 to 18000 zones while a shift in immediate trading range in between 17500 to 17850 zones,” Chandan Taparia, Analyst-Derivatives at Motilal Oswal Financial Services Limited, said.

The Nifty50 failed to surpass 17666 zones and broke its previous day’s lower zones but holding on to its 50 DEMA.

“Nifty formed a Bearish candle on the daily frame and closed with losses of around 40 points,” he said.“The index is now got stuck at higher zones but still needs to hold above 17620 zones to witness an up move towards 17717 and 17777 zones while on the downside supports are placed at 17550 and 17442 marks,” recommends Taparia.

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

Expert: Jayesh Bhanushali, Sr Derivative & Technical Research Analyst at IIFL told ETBureau

BPCL: Buy| Target Rs 353| Stop Loss Rs 334

EIGI Equipments: Buy| Target Rs 535| Stop Loss Rs 488

Triveni Engineering: Buy| Target Rs 298| Stop Loss Rs 277

Expert: Kunal Bothra, Market Expert told ETNow

Coromandel International: Buy| Target Rs 970| Stop Loss Rs 930

Expert: Jaynit Vora, Research Analyst at IIFL told ETBureau

Lemon Tree Hotels: Buy| Target Rs 90| Stop Loss Rs 78

Expert: Nooresh Merani, an independent technical analyst told ETNow

Lemon Tree Hotels: Buy| Target Rs 100| Stop Loss Rs 79

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