Stocks to buy or sell today: 7 short-term trading ideas by experts for 27 February 2023

Amid weak global cues and stress over the trajectory of future rate hikes by central banks, the domestic equity market continued its downward trajectory of last week on Monday. While bank stocks showed resilience in morning, IT stocks were the worst affected.

“There are indications that on the back of renewed inflation spike, the Fed could hike interest rates by 50 bps in its next meeting. Technically, benchmark Nifty seems to be slipping towards its 200-DMA placed at 17368 mark,” said Prashanth Tapse – Research Analyst, Senior VP (Research), Mehta Equities.

Analysts said that Nifty is marching towards its 200-day SMA support placed at 17368. On upside 17552-17620 could offer resistance.

Equities in Asia fell after heavy selling on Wall Street late last week as investors ratcheted up forecasts for US interest rates following hot inflation data.

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

Sagar Doshi, Technical Analyst, Research, Nuvama Wealth told ET Bureau

Apollo Tyre | Sell | Target price Rs 297 | Stop loss Rs 331
Breakdown below the swing low and a drop in RSI leaves upper hand for bearish momentum.TVS Motor | Sell | Target price Rs 1,030 | Stop loss Rs 1,150
Retest of December 2022 swing high followed with a negative divergence on RSI.

Jindal Steel | Sell | Target price Rs 524.50 | Stop loss Rs 585
Failure to register a follow through bullish swing breakout makes stock a candidate for short selling.

Concor | Buy | Target price Rs 635 | Stop loss Rs 570
Correction arrested as indicated by a bullish reversal candlestick with a positive divergence on RSI.

Technical analyst Kunal Bothra to ET NOW:
Gujarat Gas | Buy | Target price Rs 538 | Stop loss Rs 490

ONGC | Buy | Target price Rs 170 | Stop loss Rs 150

Paytm | Buy | Target price Rs 700 | Stop loss Rs 588

(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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