Stocks to buy today: 9 short-term trading ideas by experts for 12 April 2024

Indian benchmark indices started on a weak note on Friday amid selling pressure across sectors including banks, FMCG, IT and pharma. While The S&P BSE Sensex traded at 74,659, declining 378 points or 0.50%, the broader Nifty was hovering at 22,659, dropping 94 points or 0.41%.

India VIX, a measure of volatility in Nifty, was reported at 11.36, up 2.29% over Wednesday's closing. Indian equity markets were closed on Thursday on account of Eid-Ul-Fitr (Ramzan Id).

"Though Wednesday saw Nifty remaining in an upward bound despite lack of any momentum, the rejection trades after briefly penetrating Tuesday’s peak suggests that it might require deeper dips before buyers get more interested. Expect quick declines in Nifty if its is unable to see above 22,700," Anand James, Chief Market Strategist, Geojit Financial Services said.

However, James does not rule out Nifty levels of 22,850-23,200 run if 22,610 sustains. "Levels of 22,530-22,400 look vulnerable should we slip beyond 22,610, with eyes on 22,050. But such a breakdown looks less likely," the analyst opined.

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

Expert: Rajesh Palviya, Sr Vice President, Technical & Derivatives & Research at Axis Securities told ETBureau

Federal Bank: Buy | Target: Rs 178 | Stop Loss: Rs 153 | Last Close: Rs 159

Nippon LIfe AMC: Buy | Target: Rs 630 | Stop Loss: Rs 525 | Last Close: Rs 521

Aarti Industries: Buy | Target: Rs 850 | Stop Loss: Rs 700 | Last Close: Rs 736

Expert: Kunal Bothra, Market Expert told ETNow

Federal Bank: Buy | Target Rs 170 | Stop Loss Rs 155

Sun TV: Buy | Target Rs 655 | Stop Loss Rs 618

IDFC First Bank: Buy | Target Rs 93 | Stop Loss Rs 78

Expert: Nooresh Merani, an independent technical analyst told ETNow

UPL: Buy | Target Rs 550 | Stop Loss Rs 485

IRCTC: Buy | Target Rs 1,100 | Stop Loss Rs 970

Aegis Chemicals: Buy | Target Rs 550 | Stop Loss Rs 430

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