Stocks to buy today: SBI, Britannia among top 6 trading ideas for 3 September 2024
market is likely to consolidate on Tuesday tracking mixed global cues.
The Nifty future closed negative with losses of 0.15% at 25,338 levels on Monday. India VIX was up by 5.17% from 13.39 to 14.06 levels.
On the options front, the maximum Call OI is placed at 26,000 and then towards 25,300 strikes while the maximum Put OI is placed at 25,000 and then towards 24,000 strikes.
Call writing is seen at 25,300 and then towards 25,700 strikes while Put writing is seen at 24,500 strikes.
“Options data suggests a broader trading range in between 24,900 to 25,800 zones while an immediate range between 25,000 to 25,600 levels,” Chandan Taparia, Analyst-Derivatives at Motilal Oswal Financial Services Limited, said.
“Nifty formed a small-bodied Bearish candle on the daily frame on Monday with a longer lower shadow indicating absorption at dips. It gave the highest-ever close and has been making higher highs from the last six sessions,” he said.
“Now the index has to continue to hold above 25,200 zones for an up move towards 25,400 then 25,500 levels while support is seen at 25100 then 25,000 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: Dharmesh Shah, Head – Technical, ICICI Securities told ETBureau
SBI: Buy| Target Rs 868| Stop Loss Rs 793
GAIL India: Buy| Target Rs 248| Stop Loss Rs 226
Deepak Nitrite: Buy| Target Rs 3095| Stop Loss Rs 2798
Expert: Nooresh Merani, an
