F&O stocks to buy today: IGL, IEX among top 9 trading ideas

Synopsis

Positive setup was seen in stocks like Tata Power, IEX, Container Corporation, India Cement, MGL, MCX, Zydus Life, LIC Housing Finance, BEL, Voltas, BHEL, etc.

F&O stocks to buy today: IGL, IEX among top 9 trading ideas for 8 December 2023Getty Images

The Indian market is likely to trade higher on Friday tracking positive global cues.

The Nifty future closed negative with losses of 0.03% at 21033 levels on Thursday. India VIX was down by 7.77% from 13.74 to 12.67 level. Volatility cooled off from higher zones and indices remained afloat at higher zones.

Positive setup was seen in stocks like Tata Power, IEX, Container Corporation, India Cement, MGL, MCX, Zydus Life, LIC Housing Finance, BEL, Voltas, BHEL, etc.

On the weekly options front, the maximum Call OI is placed at 21,000 and then towards 21,200 strikes while the maximum Put OI is placed at 20,900 and then towards 20,700 strikes.

Call writing is seen at 21,000 and then towards 21,100 strikes while Put writing is seen at 20,900 and then towards 20,800 strikes.

“Options data suggests a broader trading range in between 20,700 to 21,200 zones while an immediate trading range in between 20800 to 21,100 zones,” Chandan Taparia, Analyst-Derivatives at Motilal Oswal Financial Services Limited, said.

“Nifty formed a small-bodied candle on the daily frame on Thursday with a longer lower shadow indicating buying visible on any dips,” he said.

“Now the index has to hold above 20,850 zones, for an up move towards 21,000 then 21,200 zones whereas supports are placed at 20,700 then 20,650 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: Pritesh Mehta, Lead Technical Analyst at YES Securities told ETBureau



Voltas: Buy| Target Rs 937| Stop Loss Rs 832

Zydus Life: Buy| Target Rs 709| Stop Loss Rs 634

UBL: Buy| Target Rs 1826| Stop Loss Rs 1670

Expert: Nooresh Merani, an independent technical analyst told ETNow

IGL: Buy| Target Rs 440| Stop Loss Rs 400

Voltas: Buy| Target Rs 920| Stop Loss Rs 855

EIH: Buy| Target Rs 300| Stop Loss Rs 238



Expert: Kunal Bothra, Market Expert told ETNow


IEX: Buy| Target Rs 175| Stop Loss Rs 152

Laurus Labs: Buy| Target Rs 410| Stop Loss Rs 380

CESC: Buy| Target Rs 138| Stop Loss Rs 110

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