F&O stocks to buy today: ICICI Bank among top 9 trading ideas

Apr 1, 2024 1:20 pm | News

The Indian market is expected to trade higher on Monday tracking positive global cues.

The Nifty future closed positive with gains of 0.72% at 22327 levels on Thursday. India VIX was up by 1.02% from 12.70 to 12.83 levels.

The Nifty PCR is currently at 1.18. Meaningful call writing is witnessed across 22400-22500 strikes, while put writing was witnessed in 22200-22000 strikes.

“The overall range for the coming few sessions in April could be 22500 on the upside & 22180 on the downside,” Sudeep Shah, Deputy Vice President, Head of Technical and Derivative Research, SBI Securities, said.

“Going forward, while strong support lies around 22180, the zone of 22400-22420 will be the immediate hurdle for the index for the day,” highlights Shah.

“Any sustainable move above the level of 22420 will lead to a short-covering move in Nifty towards 22530-22550 in the short term. If the index slips below 22180, it will lead to further selling pressure in the index upto the 22070-22050 level,” he added.In the cash market, both FIIs and DIIs were net buyers on Thursday to the tune of 188.31 and 2691.52 cr, respectively.FIIs’ Long short ratio for index futures at the Inception of a fresh series is at 44.83 as on a net basis, they bought 66945 index futures.

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

Maharashtra Bank: Buy| Target Rs 66| Stop Loss Rs 60

Kalyan Jewellers India: Buy| Target Rs 450| Stop Loss Rs 415

Jio Financial Services: Buy| Target Rs 380| Stop Loss Rs 340

Expert: Kunal Bothra, Market Expert told ETNow

Hero MotoCorp: Buy| Target Rs 4850| Stop Loss Rs 4650

Indian Hotels: Buy| Target Rs 608| Stop Loss Rs 572

Sona BLW Precision Forging Ltd: Buy| Target Rs 750| Stop Loss Rs 680

Expert: Nooresh Merani, an independent technical analyst told ETNow

JSW Steel: Buy| Target Rs 900| Stop Loss Rs 810

ICICI Bank: Buy| Target Rs 1200| Stop Loss Rs 1070

Dynamatic Technologies Ltd: Buy| Target Rs 8400| Stop Loss Rs 7200

(Disclaimer: Recommendations, suggestions, views, and opinions given by experts are their own. These do not represent the views of the Economic Times)

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