F&O stocks to buy today: ICICI Bank, HDFC Bank among top 9 trading ideas for 21 February 2024
The Nifty future closed positive with gains of 0.27% at 22231 levels on Tuesday. India VIX moved up by 0.31% from 16.02 to 16.07 levels.
Positive trading setup was seen in stocks like Power Grid, Deepak Nitrite, Aarti Industries, BHEL, HDFC Bank, Axis Bank, NTPC, DLF, HPCL, Apollo Hospital, Indigo, Pidilite Industries, Grasim, SBI Life, ONGC, Indian Hotels etc. among others.
On the options front, the maximum Call OI is placed at 22600 and then towards 22500 strikes while the maximum Put OI is placed at 22000 and then towards 22100 strikes.
Minor Call writing is seen at 22500 and then towards 22550 strikes while some Put writing is seen at 22100 and then towards 22150 strikes.
“Options data suggests a broader trading range in between 21900 to 22500 zones while an immediate trading range in between 22000 to 22350 zones,” Chandan Taparia, Analyst-Derivatives at Motilal Oswal Financial Services Limited, said.
“Nifty formed a Bullish candle on the daily scale on Tuesday with a longer lower shadow indicating strong support-based buying and it closed near its day’s high with gains of around 70 points,” he said.
“Now the index has to hold above 22100 zones, for an upside move towards 22350 then 22500 zones whereas supports are placed at 22050 then 21900 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: Nagaraj Shetti, Technical Research Analyst, HDFC Securities Ltd told ETBureau
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