F&O stocks to buy or sell today: Top 7 trading ideas

Indian market is expected to trade higher on Tuesday tracking positive global cues.

The Nifty future closed negative with losses of 0.67% at 21696 levels on Monday. India VIX was up by 3.95% from 15.45 to 16.06 levels. Volatility surged above 16.5 zones and awakened the bears at Index make or break levels.

Positive setup was seen in stocks like Zydus Life, Astral, Dr. Reddy’s, Coforge, Apollo Hospital, HCL Tech, Wipro, Infosys and Trent.

On the options front, the maximum Call OI is placed at 22000 and then towards 21800 strikes while the maximum Put OI is placed at 21500 and then towards 21400 strikes.

Call writing is seen at 21900 and then towards 21800 strikes while some Put writing is seen at 21400 and then towards 21600 strikes.

“Options data suggests a broader trading range in between 21300 to 22200 zones while an immediate trading range in between 21500 to 21850 zones,” Chandan Taparia, Analyst-Derivatives at Motilal Oswal Financial Services Limited, said.

“Nifty formed a Bearish candle on the daily scale on Monday and has been forming lower lows from the last three sessions,” he said.

“Now till it holds below 21650 zones, some more weakness could be seen towards 21450 then 21350 zones whereas hurdles are placed at 21750 then 21850 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: Ajit Mishra, SVP – Technical Research, Religare Broking Ltd.

ACC: Buy| Target Rs 2840| Stop Loss Rs 2530

Eicher Motors: Buy| Target Rs 4050| Stop Loss Rs 3740

Bajaj Finserv: Sell| Target Rs 1440| Stop Loss Rs 1615

Hindustan Unilever: Sell| Target Rs 2290| Stop Loss Rs 2430

Expert: Nooresh Merani, an independent technical analyst told ETNow

Maruti Suzuki: Buy| Target Rs 12000| Stop Loss Rs 10400

DLF: Sell| Target Rs 770| Stop Loss Rs 823

Granules India: Buy| Target Rs 480| Stop Loss Rs 410

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

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William Murphy

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