Stocks to buy or sell today: TCS, BHEL among top 8 trading ideas for 12 June 2023

The S&P BSE Sensex fell more than 200 points while the Nifty50 closed above 18500 levels on Friday.

India VIX was down by 1.22% from 11.25 to 11.12 levels on Friday. Volatility has been falling for the last four weeks.

On the options front, the weekly maximum Call OI is placed at 18700 and then towards 18800 strikes while the maximum Put OI is placed at 18600 and then towards 18500 strikes.

Call writing is seen at 18600 then 18700 strikes while Put writing is seen at 18600 then 18500 strikes.

“Options data suggests a broader trading range in between 18400 to 18900 zones while an immediate trading range in between 18450 to 18750 zones,” Chandan Taparia, Analyst-Derivatives at Motilal Oswal Financial Services Limited, said.

“Nifty formed a Bearish candle on a daily scale and closed with losses of around 70 points on Friday. It formed a small-bodied Bearish candle on the weekly frame with a long upper shadow but has been making higher highs from the last eleven weeks,” he said.“Now, till the time Nifty holds below 18676 levels, some weakness could be seen towards 18442 and ten towards 18350 levels, while resistance is placed at 18676 and 18777 levels on the upside,” recommends Taparia.

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

Expert: Chandan Taparia, Analyst-Derivatives at Motilal Oswal Financial Services Limited told ETBureau –

Apollo Tyre: Buy| Target Rs 424| Stop Loss Rs 395

BHEL: Buy| Target Rs 90| Stop Loss Rs 83

TCS: Sell| Target Rs 306arket Expert told ETNow
United Spirits: Buy| Target Rs 960| Stop Loss Rs 860
Maruti Suzuki: Buy| Target Rs 10,000| Stop Loss Rs 95N
BHEL: Buy| Target Rs 90| Stop Loss Rs 80

Expert: Nooresh Merani, an independent technical analyst told ETNow

ICICI Bank: Buy| Target Rs 1050| Stop Loss Rs 925
NTPC: Buy| Target Rs 200| Stop Loss Rs 177
BHEL: Buy| Target Rs 95| Stop Loss Rs 83

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