Stocks to buy today: ACC, Aurobindo Pharma among 9 short-term ideas for 7 June 2023

India VIX was up by 2.15% from 11.12 to 11.38 levels on Tuesday. Volatility negated its lower highs formation on the daily frame but lower levels is keeping the index in a smaller range.

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

Call writing is seen at 18750 then 18800 strikes while Put writing is seen at 18550 then 18400 strikes.

“Options data suggests a broader trading range in between 18300 to 18800 zones while an immediate trading range in between 18450 to 18700 zones,” Chandan Taparia, Analyst-Derivatives at Motilal Oswal Financial Services Limited, said.

“Nifty formed a Doji sort of candle on the daily scale with longer lower shadows indicating support-based buying on declines,” he said.

“Now, the index has to continue to hold above 18580 zones to witness an up move towards 18666 and 18750 zones while on the downside support exists at 18480 and 18442 zones,” recommends Taparia.We have collated stocks from various experts for traders who have a short-term trading horizon:

Expert: Jatin Gedia, Technical Research Analyst, Sharekhan by BNP Paribas told ETBureau

HPCL: Buy| Target Rs 286| Stop Loss Rs 253

RCF: Buy| Target Rs 124| Stop Loss Rs 103

Jindal Steel: Buy| Target Rs 566| Stop Loss Rs 512

Expert: Kunal Bothra, Market Expert told ETNow

Grasim Industries: Buy| Target Rs 1850| Stop Loss Rs 1738

Aurobindo Pharma: Buy| Target Rs 700| Stop Loss Rs 650

PolicyBazaar: Buy| Target Rs 666| Stop Loss Rs 588

Expert: Nooresh Merani, an independent technical analyst told ETNow

ACC: Buy| Target Rs 2000| Stop Loss Rs 1820
Hero MotoCorp: Buy| Target Rs 3300| Stop Loss Rs 2850

JSW Energy: Buy| Target Rs 300| Stop Loss Rs 250

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