Stocks to buy: 6 short-term trading ideas by experts for 3 August

Indian market started on a positive note on Wednesday but failed to hold on to the gains and turned negative in the first 30-minutes of trade.

The S&P BSE Sensex slipped below 58,000 while the Nifty50 also broke below 17,300 levels.

Sectorally, IT and healthcare saw some gains while selling was seen in telecom, banks, auto, and capital goods.


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

Expert: Gurav Ratnaparkhi, Head Technical Research, Sharekhan by BNP Pariba told ETBureau

ICICI Lombard General Insurance: Buy| Target Rs 1290-1325| Stop Loss Rs 1200
The stock formed a Dragonfly Doji pattern on the weekly chart and entered in a recovery mode.

Wockhardt: Buy| Target Rs 245-260| Stop Loss Rs 225
The price structure has broken out from an Inverted H&S pattern. Daily and weekly momentum indicators are in line.

Expert: Kunal Bothra, Market Expert told ETNow

NMDC: Buy| Target Rs 113| Stop Loss Rs 104

Expert: Nooresh Merani, independent technical analyst told ETNow

Bajaj Auto: Buy| Target Rs 4300| Stop Loss Rs 3900

Power Grid: Buy| Target Rs 235| Stop Loss Rs 218

Lemon Tree: Buy| Target Rs 80| Stop Loss Rs 64

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