Stocks to buy today: IndusInd Bank, Ipca Lab among top 8 trading ideas for 10 October

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The Indian market is likely to trend higher on Tuesday tracking positive global cues.

India VIX was up by 10.68% from 10.30 to 11.40 levels on Monday. Volatility spiked above 11.6 zones and gave room to the bears at make-or-break index levels.

On the weekly options front, the maximum Call OI is placed at 19800 and then towards 20000 strikes while the Maximum Put OI is placed at 19500 and then towards 19400 strikes.

Call writing is seen at 19600 and then towards 19700 strikes while Put writing is seen at 19500 and then towards 19200 strikes.

“Options data suggests a broader trading range in between 19300 to 20000 zones while an immediate trading range in between 19400 to 19650 zones,” Chandan Taparia, Analyst-Derivatives at Motilal Oswal Financial Services Limited, said.

“Nifty formed a Bearish candle on the daily scale on Monday and negated its higher highs – higher lows formation of the last two sessions,” he said.

“Now the index has to cross and hold above 19550 zones, for a bounce towards 19650 then 19750 zones or else weakness could be seen towards 19442 then 19333 zones,” recommended Taparia.We have collated a list of stocks from various experts for traders who have a short-term trading horizon:

Expert: Dharmesh Shah, Head – Technical, ICICI Securities told ETBureau
NTPC: Buy| Target Rs 246| Stop Loss Rs 227

IndusInd Bank: Buy| Target Rs 1490| Stop Loss Rs 1382

Expert: Nooresh Merani, an independent technical analyst told ETNow
IndusInd Bank: Buy| Target Rs 1550| Stop Loss Rs 1390

Power Grid: Buy| Target Rs 210| Stop Loss Rs 190

IndiGo: Buy| Target Rs 2600| Stop Loss Rs 2400

Expert: Kunal Bothra, Market Expert told ETNow
Mrs Bector Foods: Buy| Target Rs 1100| Stop Loss Rs 1025

Ipca Laboratories: Buy| Target Rs 970| Stop Loss Rs 924

VIP Industries: Buy| Target Rs 700| Stop Loss Rs 660

(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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