F&O stocks to buy today: L&T, IGL among top 9 trading ideas for July 3, 2024
The Nifty future closed positive with marginal gains of 0.02% at 24,210 levels on Tuesday. The India VIX was down 1.14% from 13.83 to 13.67 levels.
On the options front, the maximum Call OI is placed at 24,500 and then towards 24,200 strikes, while the maximum Put OI is placed at 24,000 and then towards 24,100 strikes.
Call writing is seen at 24,200 and then towards 24,100 strikes, while Put writing is seen at 23,800 and then towards 24,100 strikes.
“Options data suggests a broader trading range in between 23,800 to 24,500 zones, while an immediate range between 24,100 to 24,300 levels,” says Chandan Taparia, Analyst-Derivatives at Motilal Oswal Financial Services Limited.
He added that Nifty formed a Bearish candle on the daily frame on Tuesday, but it has been making higher lows from the last six sessions.
“Now, the index has to hold above 24,050 zones to extend the move towards 24,250 and 24,400 zones, whereas supports are placed at 24000 then 23,900 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: Jatin Gedia – Technical Research Analyst at Sharekhan by BNP Paribas told ETBureau
Syngene International: Buy | Target: Rs 774 | Stop Loss: Rs 695
Laurus Labs: Buy | Target: Rs 454 | Stop Loss: Rs 430
Dalmia Bharat: Buy | Target: Rs 1,939 | Stop Loss: Rs 1,782
Expert: Kunal Bothra, Market Expert told ETNow
L&T: Buy | Target: Rs 3,750 | Stop Loss: Rs 3,550
ICICI Prudential
