F&O stocks to buy today: Indigo, Power Grid among top 7 trading ideas for 18 January 2024
The Nifty future closed negative with losses of 2.01% at 21587 levels on Wednesday. India VIX was up by 11.13% from 13.57 to 15.08 levels.
Positive setup was seen in stocks like LTTS, OFSS, Birla Soft, BHEL, Persistent Systems, L&TFH, Lupin, Torrent Pharma, Coforge, Godrej Properties, and IOC.
On the weekly options front, the maximum Call OI is placed at 21800 strikes and then towards 22000 strikes while the maximum Put OI is placed at 21500 strikes and then towards 21300 strikes.
Call writing is seen at 21800 then 21700 strikes while minor put writing is seen at 21550 then 21400 strikes.
“Options data suggests a broader trading range in between 21200 to 22000 zones while an immediate trading range in between 21400 to 21800 zones,” Chandan Taparia, Senior Vice President | Analyst-Derivatives at Motilal Oswal Financial Services Limited, said.
“Nifty formed a Bearish candle on the daily scale on Wednesday and negated the sequence of higher lows of the last four trading sessions,” he said.
“Now till Nifty holds below 21700 zones, weakness could be seen towards 21450 and 21300 zones while on the upside hurdle shifts lower at 21700 and 21850 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
InterGlobe Aviation: Buy| Target Rs 3130| Stop Loss Rs 2995
Oberoi Realty: Buy| Target Rs 1565| Stop Loss Rs 1498
Expert: Kunal Bothra, Market Expert told ETNow
Apollo Hospitals: Buy| Target Rs 6140| Stop Loss Rs 5860
L&T Finance Holdings: Buy| Target Rs 175| Stop Loss Rs 165
Expert: Nooresh Merani, an
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