F&O stocks to buy today: HUL, CEAT among top 7 trading ideas for August 22, 2024
On the options front, the maximum Call open interest (OI) is at the 25,000 strike, followed by the 25,500 strike, while the maximum Put OI is at the 24,500 strike, followed by the 24,600 strike.
Minor Call writing is observed at the 24,800 and 24,900 strikes, while Put writing is seen at the 24,700 and 24,600 strikes.
“Options data suggests a broader trading range in between 24,400 to 25,100 zones, while an immediate range between 24,600 to 25,000 levels,” Chandan Taparia, Analyst-Derivatives at Motilal Oswal Financial Services Limited, said.
“Nifty formed a bullish candle on the daily frame on Wednesday and has been making higher highs-higher lows from the last four sessions,” he said.
“Now the index has to continue to hold above 24,700 zones for an up move towards 24,900 then 25,000 levels, while support is seen at 24,650 then 24,450 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: Jayesh Bhanushali, Senior Derivative & Technical Research Analyst, IIFL told ETBureau
CEAT: Buy | Target Rs 2,910 | Stop Loss: Rs 2,760
HUL: Buy | Target: Rs 2,890 | Stop Loss: Rs 2,720
Coal India: Buy| Target: Rs 554 | Stop Loss: Rs 515
F&O Strategy – Jaynit Vora, CMT, Research Analyst at IIFL told ETBureau
Deepak Fertilizers: Buy | Target: Rs 1,110 | Stop Loss: Rs 1,010
Expert: Nooresh Merani, an independent technical analyst told ETNow
Hindustan Unilever: Buy | Target: Rs 3,000 | Stop
