F&O stocks to buy or sell today: Titan, Oberoi Realty among top 8 trading ideas for August 14, 2024
Indian market is likely to trade higher on Wednesday tracking positive global cues.
Foreign institutional investors (FIIs) sold to the tune of Rs 2,107.17 crore, while domestic institutional investors (DIIs) brought to the tune of Rs 1,239.96 crore on Tuesday.
FIIs' Long-short ratio for index futures is at 48.05 as on a net basis, they sold 36,291 index futures, data showed.
The 24,200 strike has significant call open interest, followed by the 24,300 strike. On the put side, 24,100 has a substantial open interest, followed by a 24,000 strike.
“On the derivative front, August futures dipped by 0.80% on Tuesday, and the cumulative Open Interest (OI) of current, next, and far series has surged by nearly 4%. This indicates short build-up,” says Sudeep Shah, Deputy Vice President and head of Technical and Derivative Research, SBI Securities.
“The 50-day EMA zone of 24,050-24,000 will act as immediate support for the index. Any sustainable move below the psychological level of 24,000 will lead to further selling pressure in the index up to the 23,850 level,” he said.
“On the upside, the resistance zone has shifted lower in the zone of 24,270-24,300 level as a lower trendline of Bearish Flag pattern is placed in that region,” he said.
We have compiled a list of stocks from the F&O basket and cash market, curated by various experts, for traders with a short-term trading horizon.
Expert: Jatin Gedia – Technical Research Analyst at Sharekhan by BNP Paribas told ETBureau
Titan Company: Buy | Target: Rs 3,500 | Stop
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