Buy or sell today: BHEL, Paytm among top 10 trading ideas for 23 October

The Indian market is expected to trade flat on Monday amid mixed global cues.

The S&P BSE Sensex fell more than 200 points while the Nifty50 closed below 19600 on Friday.

India VIX was down by 0.76% from 10.89 to 10.81 levels in the previous trading session.

Volatility has been moving in a narrow range around 11 zones and thus not creating any major panic in the market with a capped upside.

On the monthly options front, the maximum Call OI is placed at 19800 and then towards 19600 strikes while the maximum Put OI is placed at 19500 and then towards 19000 strikes.

Minor Call writing is seen at 19600 and then towards 19700 strikes while Put writing is seen at 19400 and then towards 19500 strikes.

“Options data suggests a broader trading range in between 19350 to 19850 zones while an immediate trading range in between 19400 to 19750 zones,” Chandan Taparia, Analyst-Derivatives at Motilal Oswal Financial Services Limited, said.“Nifty formed a Doji candle and an Inside Bar on the daily frame on Friday and has been making lower highs from the last three sessions. It formed a Bearish candle on the weekly frame and gave up the gains of the last week but is still forming higher lows from the last two weeks,” he said.

“Now till Nifty holds below 19550 zones, weakness could be seen towards 19442 then 19333 zones whereas hurdles are placed at 19650 then 19750 zones,” recommended Taparia.

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

Expert: Parag Shah, Technical Analyst – Research, Nuvama Professional Client Group Research told ETBureau
Paytm: Buy| Target Rs 1050| Stop Loss Rs 944

SBI Life: Buy| Target Rs 1455| Stop Loss Rs 1310

BEL (Oct): Sell| Target Rs 125| Stop Loss Rs 139

BHEL (Oct): Sell| Target Rs 116.60| Stop Loss Rs 129.50

Expert: Kunal Bothra, Market Expert told ETNow
Escorts: Buy| Target Rs 3400| Stop Loss Rs 3180

MTAR Tech: Buy| Target Rs 2900| Stop Loss Rs 2688

Dixon Technologies: Buy| Target Rs 5750| Stop Loss Rs 5375

Expert: Nooresh Merani, an independent technical analyst told ETNow
Sun Pharma: Buy| Target Rs 1250| Stop Loss Rs 1120

IndusInd Bank: Buy| Target Rs 1600| Stop Loss Rs 1425

CRISIL: Buy| Target Rs 4700| Stop Loss Rs 4000

(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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