F&O stocks to buy today: ICICI Bank, HDFC among top 9 trading ideas for 26 June 2024
On Tuesday, the Nifty futures closed with a 0.81% gain at 23,735 levels. The India VIX increased by 1.81% from 14.06 to 14.31 levels.
Regarding options trading, the highest Call Open Interest (OI) is concentrated at the 24,000 and 23,600 strikes, while the highest Put OI is positioned at the 23,000 and 23,500 strikes.
Call writing activities are observed at the 23,900 and 23,700 strikes, whereas Put writing is evident at the 23,400 and 23,500 strikes.
“Options data suggests a broader trading range in between 23200 to 24000 zones while an immediate range between 23300 to 23700 levels,” says Chandan Taparia, Analyst-Derivatives at Motilal Oswal Financial Services Limited.
Foreign Institutional Investors (FIIs) bought Rs 1,175.91 crore worth of stocks, while Domestic Institutional Investors (DIIs) sold Rs 149.45 crore in the cash segment of the Indian equity markets.
In index futures, FIIs' long-short ratio stands at 61.45. On a net basis, they purchased 39,165 index futures, according to the data.
“The Nifty index is likely to continue its northward journey and test the level of 23850, followed by a psychological level of 24000 in the short term,” says Sudeep Shah, Deputy Vice President and head of Technical and Derivative Research, SBI Securities.
“While, on the downside, the support has now shifted higher in the zone of 23590-23570 level. On the derivative front, June futures have surged by 0.80%, and the cumulative Open Interest (OI) of the current, next, and far series has surged by 5.44%, which indicates
