Stocks to buy today: Havells, Tata Power among top 9 trading ideas for 15 June 2023

Indian market is expected to consolidate on Thursday tracking muted global cues. The Nifty50 managed to close above 18700 levels in the previous trading session.

India VIX was up by 0.47% from 11.11 to 11.16 levels on Wednesday. Volatility was slightly high but overall lower levels have supported the bulls at higher zones

On the options front, the weekly maximum Call OI is placed at 18900 and then towards 18800 strikes while maximum Put OI is placed at 18700 and then towards 18600 strikes.

Minor Call writing is seen at 18850 then 18900 strikes while meaningful Put writing is seen at 18700 then 18750 strikes.

“Options data suggests a broader trading range in between 18500 to 18900 zones while an immediate trading range in between 18650 to 18850 zones,” Chandan Taparia, Analyst-Derivatives at Motilal Oswal Financial Services Limited, said.

“Nifty formed a Bullish candle on the daily scale and bulls established a strong closing after days of lackluster move,” he said.

“Now, the index has to hold above 18676 zones to witness an up move towards 18888 and 19000 zones while on the downside support exists at 18676 and 18636 zones,” recommends Taparia.We have collated stocks from various experts for traders who have a short-term trading horizon:

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

Oberoi Realty: Buy| Target Rs 1080| Stop Loss Rs 980

Grasim Industries: Buy| Target Rs 1850| Stop Loss Rs 1730

Kansai Nerolac Paints: Buy| Target Rs 480| Stop Loss Rs 430

Expert: Nooresh Merani, an independent technical analyst told ETNow

Grasim Industries: Buy| Target Rs 2000| Stop Loss Rs 1730

Power Grid: Buy| Target Rs 270| Stop Loss Rs 240

Blue Star: Buy| Target Rs 1750| Stop Loss Rs 1450

Expert: Kunal Bothra, Market Expert told ETNow

Havells India: Buy| Target Rs 1450| Stop Loss Rs 1300

Tata Power: Buy| Target Rs 240| Stop Loss Rs 215

Ashok Leyland: Buy| Target Rs 165| Stop Loss Rs 151

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

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