F&O stocks to buy today: HDFC Bank, TVS Motor among top 6 trading ideas for 19 February 2024

by

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

The Nifty future closed positive with gains of 0.38% at 22089 levels on Friday. India VIX closed flattish near 15.22 levels.

Volatility has been cooling down from the last four sessions and comforted the bulls to utilise any small declines at record-high levels.

Positive setup was seen in stocks like Federal Bank, Metropolis, Granules, Wipro, M&M, Mphasis, Tata Communication, SBI Life, Concor, Alkem, Adani Ports, ACC, Maruti, TVS Motor, Ambuja Cement, HDFC AMC, etc. among others.

On the options front, the maximum Call OI is placed at 22100 and then towards 22600 strikes while the maximum Put OI is placed at 22000 and then towards 21700 strikes.

Call writing is seen at 22100 and then towards 22300 strikes while some Put writing is seen at 22000 and then towards 21850 strikes.“Options data suggests a broader trading range in between 21700 to 22300 zones while an immediate trading range in between 21850 to 22200 zones,” Chandan Taparia, Analyst-Derivatives at Motilal Oswal Financial Services Limited, said.“Nifty formed a Bullish candle on the daily and weekly scale with longer lower shadow indicating strong support-based buying,” he added.

“Now the index has to hold above 22000 zones, for an upside move towards 22150 then 22222 zones whereas supports are placed at 21900 then 21750 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

TVS Motor: Buy| Target Rs 2234| Stop Loss Rs 2090

Ambuja Cements: Buy| Target Rs 612| Stop Loss Rs 572

Trent: Buy| Target Rs 4200| Stop Loss Rs 3930

Expert: Nooresh Merani, an independent technical analyst told ETNow

HDFC Bank: Buy| Target Rs 1480| Stop Loss Rs 1395

SBI Life: Buy| Target Rs 1650| Stop Loss Rs 1480

IDFC First Bank: Buy| Target Rs 90| Stop Loss Rs 79

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

(You can now subscribe to our ETMarkets WhatsApp channel)

(What’s moving Sensex and Nifty Track latest market news, stock tips and expert advice, on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .)

Download The Economic Times News App to get Daily Market Updates & Live Business News.

Subscribe to The Economic Times Prime and read the Economic Times ePaper Online.and Sensex Today.

Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price

Source link

Denial of responsibility! NewsConcerns is an automatic aggregator of the all world’s media. In each content, the hyperlink to the primary source is specified. All trademarks belong to their rightful owners, all materials to their authors. If you are the owner of the content and do not want us to publish your materials, please contact us by email – [email protected]. The content will be deleted within 24 hours.

Leave a Comment