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Stocks to Buy Or Sell Today: 10 Short-Term Trading Ideas by Experts For 17 October 2022

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Stocks to Buy Or Sell Today 10 Short-Term Trading Ideas by Experts For 17 October 2022

By or sell stocks for today: Following positive Wall Street sentiments, the Indian stock market ended higher on Friday, trimming its weekly losses.

The NSE Nifty gained 171 points and closed at 17,185, while the BSE Sensex gained 684 points and closed at 57,919 The Nifty Bank gained 681 points and closed at 39,305.

Market indices underperformed because large-cap stocks took center stage. However, the advance-decline ratio improved to 0.95:1.

Vaishali Parekh’s recommendations on the stock market today

The Indian stock market surprised the street with a huge gap-up opening and played the bullish card throughout the day before giving up the gains in the last hour, according to Vaishali Parekh, Vice President – Technical Research at Prabhudas Lilladher.

Overall, stock market sentiment has improved, but Nifty needs to stay above 17,300 to 17,350.

According to Prabhudas Lilladher, Nifty Bank is doing better than Nifty 50.

Prabhudas Lilladher, an expert on buying stocks, recommended Mahanagar Gas Ltd (MGL) and Larsen & Toubro (L&T) as stocks to buy today. Today, Vaishali Parekh discussed intraday trade strategies for the stock market.

“Nifty opened near the 17300 zone erasing all the negative sentiments seen yesterday but was forced to slide down and close near the 17200 zone in the second half due to heavy profit bookings.

The Bank Nifty session opened near 39400 and maintained the levels until it closed near 39300..”

The sentiment has improved, but Prabhudas Lilladher’s Vaishali Parekh says that the Nifty needs to break above the 17300-17350 zone decisively for clarity and conviction about the trend.

Compared to the Nifty index, Bank Nifty has shown strength, with individual frontline stocks like Kotak Bank, ICICI Bank and HDFC Bank showing improvement.

The support for the day is 17,050, while the resistance is 17,350. The Bank Nifty would range from 38,800 to 40,000 every day.

Stocks to buy today

Vaishali Parekh recommended two shares to buy today. Here’s what you need to know about those stocks to buy or sell today:

1] Mahanagar Gas Ltd or MGL: Buy at ₹808, target ₹840, stop loss ₹794; and

2] Larsen & Toubro (L&T): Buy at ₹1911, target ₹1952, stop loss ₹1885.

Expert: Kunal Bothra, Market Expert, told ETNow

Infosys NSE 1.00 %: Buy| Target Rs 1500| Stop Loss Rs 1440
HCL Technologies NSE -0.48 %: Buy| Target Rs 1040| Stop Loss Rs 975
GNFC: Buy| Target Rs 730| Stop Loss Rs 680

(Disclaimer: The experts’ opinions, suggestions, views, and recommendations are their own. CTN News doesn’t endorse them.

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Arsi Mughal is a staff writer at CTN News, delivering insightful and engaging content on a wide range of topics. With a knack for clear and concise writing, he crafts articles that resonate with readers. Arsi's pieces are well-researched, informative, and presented in a straightforward manner, making complex subjects accessible to a broad audience. His writing style strikes the perfect balance between professionalism and casual approachability, ensuring an enjoyable reading experience.

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