Buy or Sell today: ACC, Atul Auto among top 6 trading ideas for 20 October

The Indian market is expected to consolidate on Friday tracking muted global cues.

India VIX was down by 0.57% from 10.96 to 10.89 levels on Thursday.

Volatility has been moving in a narrow range at around 11 zones thus not creating major panic in the market even though the upside remains capped.

On the monthly 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 19000 strikes.

Minor Call writing is seen at 19750 and then towards 19850 strikes while Put writing is seen at 19500 and then towards 19400 strikes.

“Options data suggests a broader trading range in between 19400 to 20000 zones while an immediate trading range in between 19500 to 19800 zones,” Chandan Taparia, Analyst-Derivatives at Motilal Oswal Financial Services Limited, said.

“Nifty has formed a Bullish candle on the daily frame on Thursday with a longer upper shadow as it closed higher than its opening zones and has been making lower highs - lower lows from the last two sessions,” he said.

“Now till Nifty holds below 19650 zones, weakness could be seen towards 19500 then 19442 zones whereas hurdles are placed at 19750 then 19850 zones,” recommended Taparia.

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

Expert: Kunal Bothra, Market Expert told ETNow
Atul Auto: Buy| Target Rs 700| Stop Loss Rs 600

Birlasoft: Sell| Target Rs 528| Stop Loss Rs 560

Aditya Birla Capital: Buy| Target Rs 200| Stop Loss Rs 177

Expert: Nooresh Merani, an independent technical analyst told ETNow
ACC: Buy| Target Rs 2200| Stop Loss Rs 1970

IndusInd Bank: Buy| Target Rs 1600| Stop Loss Rs 1410

Motilal Oswal: Buy| Target Rs 1200| Stop Loss Rs 950

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