You are currently viewing Stocks to buy today: Infosys, ICICI Bank among top 8 trading ideas for 17 July 2023

Stocks to buy today: Infosys, ICICI Bank among top 8 trading ideas for 17 July 2023


Indian market is expected to trade higher on Monday tracking positive global cues.

The 30-share BSE Sensex jumped 502 points to settle at its new all-time closing high of 66,060, while the broader Nifty went up by 150 points to end at a new record peak of 19,564 on Friday.

India VIX was down by 2.33% from 10.93 to 10.68 levels on Friday. Volatility is hovering near its lower band which is supporting the bulls at record-high levels.

On the weekly options front, the maximum Call OI is placed at 19600 and then towards 19700 strikes while the maximum Put OI is placed at 19500 and then towards 19400 strikes.

Minor Call writing is seen at 19750 then 19650 strikes while Put writing is seen at 19400 then 19500 strikes.

“Options data suggests a shift trading range in between 19200 to 19800 zones while an immediate trading range in between 19350 to 19700 zones,” Chandan Taparia, Analyst-Derivatives at Motilal Oswal Financial Services Limited, said.

“Nifty formed a Bullish candle on the weekly frame and has been forming higher highs from the last sixteen weeks on Friday,” he said.“Now, the index has to hold above 19515 zones to extend the move towards 19750 then 19800 zones while on the downside support is intact at 19420 and 19333 zones,” recommends Taparia.

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

Expert: Aakash Hindocha, Technical Analyst, Research at Nuvama Wealth told ETBureau
Bharat Forge: Buy| Target Rs 930| Stop Loss Rs 836

NALCO: Buy| Target Rs 995.65| Stop Loss Rs 86.20

Expert: Nooresh Merani, an independent technical analyst told ETNow

Hero MotoCorp: Buy| Target Rs 3500| Stop Loss Rs 3000

ICICI Bank: Buy| Target Rs 1050| Stop Loss Rs 940

Ashok Leyland: Buy| Target Rs 190| Stop Loss Rs 164

Expert: Kunal Bothra, Market Expert told ETNow
Eicher Motors: Buy| Target Rs 3700| Stop Loss Rs 3200

Infosys: Buy| Target Rs 1480| Stop Loss Rs 1380

IndiaMart InterMesh: Buy| Target Rs 2900| Stop Loss Rs 2700

(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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