F&O stocks to buy today: Biocon, Axis Bank among top 9 trading ideas for 9 May 2024
The Nifty future closed positive with gains of 0.05% at 22392 levels on Wednesday. India VIX was up by 0.41% from 17.05 to 17.08 levels.
On the weekly options front, the maximum Call OI is placed at 22500 and then towards 22700 strikes while the maximum Put OI is placed at 22000 and then towards 22200 strikes.
Call writing is seen at 22400 and then towards 22600 strikes while Put writing is seen at 22200 and then towards 22100 strikes.
“Options data suggests a broader trading range in between 21800 to 22800 zones while an immediate range between 22100 to 22500 levels,” Chandan Taparia, Analyst-Derivatives at Motilal Oswal Financial Services Limited, said.
FIIs in the cash segment on Wednesday sold to the tune of Rs 6,669.10 cr while DIIs bought to the tune of Rs 5928.81 cr.
FIIs' Long short ratio for index futures has further dipped to 38.50, as on a net basis, they sold 26530 index futures.
“The Nifty PCR is currently at 0.59. Going ahead, 22200-22180 will act as crucial support for the index, while resistance is seen at 20-EMA levels of 22410-22430 zone,” Sudeep Shah, Deputy Vice President, Head of Technical and Derivative Research, SBI Securities, said.
“Any sustainable move below the level of 22180 will lead to further selling pressure in the index up to the 22030-21950 level,” he said.
“On a cross-over above 22430, Index could witness a short-term move upto 22580-22630,” recommended Shah.
We have collated a list of stocks from the F&O basket along with cash market from various experts for traders who
