Stocks to buy or sell today: United Spirits, L&T among top 5 trading ideas for 23 June 2023

India VIX was up by 2.28% from 11.29 to 11.54 levels on Thursday. Volatility was slightly on the rise and came out of its range on the daily frame.

On the options front, the monthly maximum Call OI is placed at 18,800 and then towards 19,000 strikes while the maximum Put OI is placed at 18,800 and then towards 18,700 strikes.

Call writing is seen at 18,800 then 18,900 strikes while Put writing is seen at 18,800 then 18,700 strikes.

“Options data suggests a shift in a broader trading range in between 18,550 to 19,000 zones while an immediate trading range in between 18,650 to 18,900 zones,” Chandan Taparia, Analyst-Derivatives at Motilal Oswal Financial Services Limited, said.

“The index is struggling at record high levels and whipsaws can be seen in the market. It formed a Bearish candle or an outside Bar on the daily frame on Thursday,” he said.

“Now, the index has to hold above 18,777 zones to witness an up move towards 18,888 then 19,000 zones while on the downside support exists at 18,710 and 18,666 zones,” recommends Taparia.

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

Expert: Pritesh Mehta, Lead Technical Analyst – Institutional Equities at YES Securities told ETBureau
United Spirits: Sell| Target R 855| Stop Loss Rs 915

Gujarat Gas: Sell| Target Rs 445| Stop Loss Rs 481

Balrampur Chini Mills: Buy| Target Rs 432| Stop Loss Rs 395

Expert: Nooresh Merani, an independent technical analyst told ETNow
L&T: Buy| Target Rs 2600| Stop Loss Rs 2350

Balrampur Chini Mills: Buy| Target Rs 1100| Stop Loss Rs 970

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