F&O stocks to buy today: ONGC, NBCC among top 10 trading ideas for 5 July 2024
Indian market likely to witness consolidation on Friday following subdued global cues. Nifty future shows slight gains, with key levels and options data suggesting a narrow trading range.
Indian likely to consolidate on Friday tracking muted global cues.The Nifty future closed positive with gains of 0.10% at 24375 levels on Thursday. India VIX was down by 2.90% from 13.20 to 12.82 levels.
On the options front, the maximum Call OI is placed at 24500 and then towards 24400 strikes while maximum Put OI is placed at 24000 and then towards 24200 strikes.
Call writing is seen at 24500 and then towards 24400 strikes while Put writing is seen at 24000 and then towards 24200 strikes.
“Options data suggests a broader range in between 24000 to 24500 zones while an immediate range between 24200 to 24400 levels,” says Chandan Taparia, Analyst-Derivatives at Motilal Oswal Financial Services Limited.
“Nifty formed a small bodies Bearish candle on the daily frame but has been making higher lows from the last eight sessions,” he said.
“Now the index has to hold above 24250 zones to extend the move towards 24400 and 24500 zones whereas supports are placed at 24200 then 24050 zones,” recommended Taparia.
We have collated a list of stocks from the F&O basket along with cash market from various experts for traders who have a short-term trading horizon:
Expert: Shrikant Chouhan, Head of Equity Research (Retail) at Kotak Securities told ETBureau
Balkrishna Industries: Buy | Target Rs 3225-3250 | Stop Loss Rs 3090
Engineers India: Buy | Target Rs 275-278 | Stop Loss Rs 263
Bank of Baroda: Buy | Target Rs 278-280 | Stop Loss Rs 265
ONGC: Buy | Target Rs 285-287 | Stop Loss Rs 273
Expert: Kunal Bothra, Market Expert told ETNow
NBCC: Buy | Target Rs 194 | Stop Loss Rs 180
ABB: Buy | Target Rs 9000 | Stop Loss Rs 8550
Zydus Life: Buy | Target Rs 1177 | Stop Loss Rs 1117
Expert: Nooresh Merani, an independent technical analyst told ETNow
ONGC: Buy | Target Rs 320 | Stop Loss Rs 270
Sun Pharma: Buy | Target Rs 1650 | Stop Loss Rs 1530
HDFC AMC: Buy | Target Rs 4400 | Stop Loss Rs 4150
(Disclaimer: Recommendations, suggestions, views, and opinions given by experts are their own. These do not represent the views of The Economic Times)
Source: Stocks-Markets-Economic Times
