F&O stocks to buy today: RIL, Escorts among top 10 trading ideas for 24 June 2024
The Nifty future closed negative with losses of 0.52% at 23460 levels on Friday. India VIX was down by 1.24% from 13.34 to 13.18 levels.
On the options front, the maximum Call OI is placed at 24,000 and then towards 23,500 strikes while the maximum Put OI is placed at 23,000 and then towards 23,500 strikes.
Call writing is seen at 23,500 and then towards 23,700 strikes while Put writing is seen at 23,400 and then towards 23,100 strikes.
“Options data suggests a broader trading range in between 23,200 to 24,000 zones while an immediate range between 23,300 to 23,700 levels,” says Chandan Taparia, Analyst-Derivatives at Motilal Oswal Financial Services Limited.
“The Nifty has been forming higher highs from the last five weeks and buying is attempting at any dips,” he said.
“Now the Nifty has to continue to hold above 23,500 zones to extend the move towards 23,667 and 23,750 zones whereas supports are placed at 23,400-23,250 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: Chandan Taparia, Analyst-Derivatives at Motilal Oswal Financial Services Limited told ETBureau
Escorts: Buy| Target Rs 4530| Stop Loss Rs 4230
IREDA: Buy| Target Rs 197| Stop Loss Rs 182
Apollo Tyres: Buy| Target Rs 525| Stop Loss Rs 490
F&O Strategy –
JSW Steel Future (27 June Expiry): Buy| Target Rs 985| Stop Loss Rs 912
Havells Future (27 June Expiry): Buy| Target Rs 1975| Stop Loss Rs 1840
Expert
