Stocks to buy today: RIL, Zomato among top 10 ideas for 12 October

Stocks to buy today: RIL, Zomato among top 10 ideas for 12 October

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

India VIX was down by 2.53% from 11.27 to 10.98 levels on Wednesday. Volatility cooled off and paved the way for the bulls to strengthen in the market.

On the weekly front, the maximum Call OI is placed at 20000 and then towards 19900 strikes while the maximum Put OI is placed at 19600 and then towards 19800 strikes.

Call writing is seen at 19950 and then towards 19900 strikes while meaningful Put writing is seen at 19800 and then towards 19750 strikes.

“Options data suggests a broader trading range in between 19400 to 20000 zones while an immediate trading range in between 19650 to 19900 zones,” Chandan Taparia, Analyst-Derivatives at Motilal Oswal Financial Services Limited, said.

“Support-based buying kept the market afloat, and it went on to touch an intraday high of 19839 levels. It formed a Bullish candle on the daily scale and has been forming higher highs – higher lows from the last two sessions,” he said.

“Now Nifty has to hold above 19800 zones, for an up move towards 19950 then 20050 zones whereas supports are placed at 19750 then 19650 zones,” recommends Taparia.We have collated a list of stocks from various experts for traders who have a short-term trading horizon:

Expert: Rajesh Palviya, VP-Technical & Derivative Research, Axis Securities told ETBureau
KPIT Technologies: Buy| Target Rs 1380| Stop Loss Rs 1170

NAM-India: Buy| Target Rs 390| Stop Loss Rs 343

Ramco Cement: Buy| Target Rs 1095| Stop Loss Rs 948

West Coast Paper: Buy| Target Rs 880| Stop Loss Rs 721

Expert: Kunal Bothra, Market Expert told ETNow
UltraTech Cement: Buy| Target Rs 8550| Stop Loss Rs 8230

RIL: Buy| Target Rs 2420| Stop Loss Rs 2300

Zomato: Buy| Target Rs 120| Stop Loss Rs 103

Expert: Nooresh Merani, an independent technical analyst told ETNow

NMDC: Buy| Target Rs 170| Stop Loss Rs 145

Sun TV: Buy| Target Rs 799| Stop Loss Rs 600

JK Paper: Buy| Target Rs 450| Stop Loss Rs 385

(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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