F&O stocks to buy today: BPCL, Infosys among top 9 trading ideas

F&O stocks to buy today: BPCL, Infosys among top 9 trading ideas

The Indian market is likely to trade higher on Tuesday tracking positive global cues.

The Nifty future closed on Saturday. India VIX was down by 1.90% from 13.88 to 13.80 levels. Volatility cooled off after spiking to higher zones during the week.

Positive setup was seen in stocks like Apollo Tyre, MRF, Coal India, IRCTC, Adani Ports, PNB, Canara Bank, Torrent Pharma, Petronet LNG, ICICI Bank, Bank Baroda, Ambuja Cement and Birla Soft.

On the options front, the maximum Call OI is placed at 21700 strikes and then towards 21800 strikes while the maximum Put OI is placed at 21500 strikes and then towards 21600 strikes.

Call writing is seen at 21700 and then towards 21800 strikes while minor put writing is seen at 21550 and then towards 21500 strikes.

“Options data suggests a broader trading range in between 21200 to 22000 zones while an immediate trading range in between 21400 to 21800 zones,” Chandan Taparia, Senior Vice President | Analyst-Derivatives at Motilal Oswal Financial Services Limited, said.

“The Nifty formed a Bearish candle on a daily scale and a Bearish engulfing kind of pattern on the weekly scale on Saturday which indicates some pressure at higher zones,” he said.

“Now the index has to hold above 21550 zones for an up move towards 21750 and 21850 zones while on the downside support exists at 21500 and 21400 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: Ajit Mishra, SVP – Technical Research, Religare Broking Ltd told ETBureau

BPCL: Buy| Target Rs 520| Stop Loss Rs 465

Cipla: Buy| Target Rs 1440| Stop Loss Rs 1250

Infosys: Buy| Target Rs 1790| Stop Loss Rs 1575

Expert: Kunal Bothra, Market Expert told ETNow

Container Corp: Buy| Target Rs 900| Stop Loss Rs 860

Bank of Baroda: Buy| Target Rs 250| Stop Loss Rs 226

Petronet LNG: Buy| Target Rs 265| Stop Loss Rs 243

Expert: Nooresh Merani, an independent technical analyst told ETNow

ICICI Bank: Buy| Target Rs 1150| Stop Loss Rs 1000

Lemon Tree: Buy| Target Rs 150| Stop Loss Rs 128

CARE Ratings: Buy| Target Rs 1100| Stop Loss Rs 950

(You can now subscribe to our ETMarkets WhatsApp channel)

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

For more news like this visit The Economic Times.