F&O stocks to buy today: ITC, MCx among top 7 trading ideas for 19 August 2024
The Nifty50 closed 397 points higher at 24,541 on Friday, while the Indian VIX fell over 6% to close at 14.40.
Foreign portfolio investors turned net buyers, purchasing shares worth Rs 766 crore on Friday, while domestic institutional investors (DIIs) bought shares worth Rs 2,606 crore.
On the daily charts, the Nifty has been consolidating around the 24,200–24,150 range, where the 40-day moving average is situated.
“A spike towards the key moving averages 24,250–24,300 should be used as a selling opportunity for targets of 23,890-23,600. On the upside, 24,300 is the immediate hurdle from a short-term perspective,” Jatin Gedia – Technical Research Analyst at Sharekhan by BNP Paribas, said.
“The Bank Nifty has been weak and closed the day in the red. The swing low of 49,650 has been retested today and we are expecting the weakness to continue,” he said.
“The immediate support stands at 49,650–49,600 and below that, we can expect a slide towards 49,000 – 48,850. On the upside immediate resistance is placed at 50,250 – 50,300,” recommended Gedia.
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: Chandan Taparia, Analyst-Derivatives at Motilal Oswal Financial Services Limited told ETBureau
Ashok Leyland: Buy | Target: Rs 275 | Stop Loss: Rs 245
Coromandel International: Buy | Target: Rs 1,865 | Stop Loss: Rs 1,700
Mphasis: Buy | Target: Rs 3,150 | Stop Loss: Rs 2,790
F&O Strategy –
MCX Future (29 Aug
