Stocks to buy today: 8 short term trading ideas by experts for August 2, 2022

The Indian market fell in morning trade on Tuesday tracking a muted trend seen in other Asian markets which were trading lower on recession fears.

The Nifty50 slipped below 17,300 in the first 15-minutes of trade while the S&P BSE Sensex fell more than 100 points.

Sectorally, buying was seen in FMCG, telecom, power, utilities, and energy stocks while some selling was visible in metals, auto, realty, and banking names.

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

Expert: Dharmesh Shah, Head – Technical, told ETBureau

TCS: Buy| Target Rs 3420| Stop Loss Rs 3215

The stock recorded a bullish hammer-like candle on the monthly chart and is at 80 per cent retracement of the CY21 rally which offers a favourable risk-to-reward ratio.

Adani Ports: Buy| Target Rs 835| Stop Loss Rs 778

The stock recorded a breakout above in the last 10 weeks range with a base around 52-weeks EMA and MACD is in a buy mode.

Canara Bank: Buy| Target Rs 236| Stop Loss Rs 217

The stock is sustaining above the recent falling channel breakout area and the 100 days EMA is a positive sign for the bulls.

Tata Chemicals: Buy| Target Rs 982| Stop Loss Rs 923

Buying demand is emerging from trend line support joining lows since September 2021 and RSI is in a buy mode which is a positive sign for the bulls.

Expert: Kunal Bothra, Market Expert told ETNow

Granules India: Buy| Target Rs 315| Stop Loss Rs 296

Expert: Nooresh Merani, independent technical analyst told ETNow

Bharti Airtel: Buy| Target Rs 760| Stop Loss Rs 688

Indian Energy Exchange: Buy| Target Rs 190| Stop Loss Rs 162

BHEL: Buy| Target Rs 65| Stop Loss Rs 53

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

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