Stocks to buy or sell today: Havells, Maruti among top 9 trading ideas for 9 June 2023

Indian market is expected to consolidate on Friday tracking mixed cues. The S&P BSE Sensex fell by about 300 points while the Nifty50 slipped below 18700 levels in the last session.

India VIX was down by 1.60% from 11.44 to 11.25 levels on Thursday. Volatility sunk to 10 zones during the day and that comforted the bull at a higher zone.

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

Call writing is seen at 18700 then 18800 strikes while Put writing is seen at 18700 then 18500 strikes.

“Options data suggests a broader trading range in between 18450 to 18900 zones while an immediate trading range in between 18550 to 18800 zones,” Chandan Taparia, Analyst-Derivatives at Motilal Oswal Financial Services Limited, said.

“Nifty formed a Bearish candle and an outside Bar on the daily scale on Thursday. Now, the index has to cross and hold above 18666 zones to witness an up move towards 18786 and 18888 zones while on the downside support exists at 18580 and 18530 zones,” recommends Taparia.

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

Expert: Pritesh Mehta, Lead Technical Analyst – Institutional Equities, YES Securities told ETBureau

TCS: Sell| Target Rs 3070| Stop Loss Rs 3310

Kotak Mahindra Bank: Sell| Target Rs1770| Stop Loss Rs 1950

Power Grid: Buy| Target Rs 236| Stop Loss Rs 254

Expert: Kunal Bothra, Market Expert told ETNow

HDFC Bank: Buy| Target Rs 1650| Stop Loss Rs 1600

Maruti Suzuki India Ltd: Buy| Target Rs 10,000| Stop Loss Rs 9500

Havells India: Buy| Target Rs 1400| Stop Loss Rs 1334

Expert: Nooresh Merani, an independent technical analyst told ETNow

ICICI Bank: Buy| Target Rs 1050| Stop Loss Rs 925

NTPC: Buy| Target Rs 200| Stop Loss Rs 177

Tata Chemicals: Buy| Target Rs 1100| Stop Loss Rs 980

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