F&O stocks to buy today: L&T, BHEL among top 6 trading ideas for 14 May 2024
The Nifty future closed positive with gains of 0.38% at 22224 levels. India VIX was up by 11.53% from 18.47 to 20.60 levels.
Volatility spiked to 21.5 zones to hit its 19-month high which created swings in the market, suggest experts. “VIX needs to fall below 17-18 zones for some stability and smoother ride in the market,” Chandan Taparia, Analyst-Derivatives at Motilal Oswal Financial Services Limited, said.
On the weekly options front, the maximum Call OI is placed at 22300 and then towards 22500 strikes while the maximum Put OI is placed at 22000 and then towards 21800 strikes.
Call writing is seen at 22300 and then towards 22400 strikes while Put writing is seen at 21800 and then towards 22000 strikes.
“Options data suggests a broader trading range in between 21500 to 22500 zones while an immediate range between 21900 to 22300 levels,” said Taparia.
“Now the index has to hold above 22050 zones for a bounce towards 22222 then 22350 zones whereas supports are placed at 21950 then 21800 zones,” he recommended.
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: Kunal Bothra, Market Expert told ETNow
Hindustan Copper: Buy| Target Rs 400| Stop Loss Rs 350
BHEL: Buy| Target Rs 300| Stop Loss Rs 270
Vedant Fashion (Manyavar): Buy| Target Rs 1100| Stop Loss Rs 950
Expert: Nooresh Merani, an independent technical analyst told ETNow
L&T: Buy| Target Rs 3600| Stop Loss Rs 3240
Tata Steel: Buy| Target Rs
