​Stocks to buy today: ICICI Bank, RIL among top 10 trading ideas

Synopsis

Indian market is expected to open higher, mirroring positive global trends. Nifty futures closed with a 1.20% gain, while India VIX decreased by 3%. Experts recommend buying RIL, National Aluminum, Bajaj Auto, Axis Bank, Shriram Finance, Union Bank, Tata Steel, ICICI Bank and SAIL for short-term gains.

Indian market is likely to trade higher on Friday tracking positive global cues.

The Nifty future closed positively with gains of 1.20% at 25554 levels on Thursday. India VIX fell nearly 3% to close at 12.59 in the previous session.

On the options front, the maximum Call OI is placed at 25500 and then towards 26000 strikes while the maximum Put OI is placed at 25500 and then towards 25200 strikes.

Call writing is seen at 25500 and then towards 26000 strikes while Put writing is seen at 25500 and then towards 25200 strikes.

“Options data suggests a broader trading range in between 24000 to 26000 zones while an immediate range between 25300 to 25700 levels,” Chandan Taparia, Analyst-Derivatives at Motilal Oswal Financial Services Limited, said.

“Nifty formed a bullish candle on the daily frame on Thursday with a breakout from the consolidation and has been forming higher lows from the last five sessions,” he said.

“Now the index has to hold above 25500, for an up move towards 25750 and 25850 zones while supports have shifted higher to 25350 then 24250 zones,” recommended Taparia.

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

Expert: Amol Athawale, VP - Technical Research at Kotak Securities

RIL: Buy| Target Rs 1540| Stop Loss Rs 1470

National Aluminum: Buy| Target Rs 200| Stop Loss Rs 190

Bajaj Auto: Buy| Target Rs 8680| Stop Loss Rs 8300

Axis Bank: Buy| Target Rs 1270| Stop Loss Rs 1210

Expert: Sharan Lillaney, Independent SEBI Research Analyst

Shriram Finance: Buy| Target Rs 733| Stop Loss Rs 673

National Aluminum: Buy| Target Rs 203| Stop Loss Rs 185

Union Bank of India: Buy| Target Rs 158| Stop Loss Rs 138

Expert: Kunal Bothra, Market Expert told ETNow

Tata Steel: Buy| Target Rs 168| Stop Loss Rs 156

ICICI Bank: Buy| Target Rs 1490| Stop Loss Rs 1420

SAIL: Buy| Target Rs 139| Stop Loss Rs 129

(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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