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stocks to buy today: stocks to buy or sell today: 8 short-term trading ideas from the experts for September 7

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The Indian market started lower on Wednesday, tracking muted global cues. The S&P BSE Sensex fell over 400 points while the Nifty50 dipped below the 17,600 level in the first 15 minutes of trade.

Sectorally, selling was seen in banking, IT, financials, real estate and auto stocks, while buying was seen in oil & gas and metals stocks.

Crucial support for the index is at the level of 17000 and further to the level of 16800, analysts note.



The highest new replenishment OI was seen at 17800 for calls and 17000 for puts on weekly and at 18000 for calls and 16000 for puts on monthly contracts.

“The failure to move above 17,690 after yesterday’s early surge suggests that the bullish momentum has weakened,” said Anand James, chief market strategist at

said.

This would mean that eyes are now on the 17470-17400 region discussed on Tuesday to see if buyers can regroup to stop the 17000-16650 drop, he added.

We have collected shares of various experts for traders who have a short-term trading horizon:

Expert: Nagraj Shetty, technical and derivatives analyst at Securities, told ETBureau


BF Investment: Buy| Target Rs 332| Stop Loss Rs.299

Volume has started to increase during the price breakout to the upside, and the weekly RSI is showing a positive indicator.

Balrampur Chini Mills: Buy| Target Rs 397| Stop Loss Rs 362

A steady upward movement with a positive pattern on the chart, such as higher highs and lows, which indicates strength.

Expert: Kunal Bothra, market expert, told ETNow


NALCO: Buy| Target Rs.84| Stop Loss 77 Rs

UPL: Sell| Target Rs 720| Stop Loss Rs 750

Andhra Paper: Sell| Target Rs.450| Stop Loss Rs 473

Expert: Nuresh Merani, an independent technical analyst, told ETNow


Power Grid: Buy| Target Rs 250| Stop Loss Rs.220

M&M Finance: Buy| Target Rs 235| Stop Loss Rs 210

Tata Power: Buy| Target Rs 270| Stop Loss Rs 235

(Disclaimer: Recommendations, suggestions, views and opinions expressed by experts are their own. They do not reflect the views of Economic Times)

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