F&O stocks to buy today: Infosys, Power Grid among top trading ideas for 25 January 2024

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Indian market is expected to consolidate on Thursday tracking muted global cues.
The Nifty Future closed positive with gains of 1.39% at 21488 levels on Wednesday. India VIX was down by 3.21% from 14.85 to 14.38 levels. Volatility spiked to 15.6 zones but later cooled off which made the bulls at ease at crucial support zones.

Positive setup was seen in stocks like REC, Indus Tower, JK Cement, Dr Reddy’s, Cummins India, Power Grid, Zydus Life, HCL Tech, Apollo Tyre, and Tech Mahindra.

On the options front, the maximum Call OI is placed at 21700 strikes and then towards 21500 strikes while the maximum Put OI is placed at 21000 strikes and then towards 21300 strikes.

Call writing is seen at 21500 and then towards 21650 strikes while Put writing is seen at 21400 and then towards 21300 strikes.

“Options data suggests a broader trading range in between 21200 to 21650 zones,” Chandan Taparia, Senior Vice President | Analyst-Derivatives at Motilal Oswal Financial Services Limited, said.

“Nifty formed a Bullish candle on the daily scale on Wednesday but has been making lower lows from the last three sessions,” he said.“Now the index has to cross and hold above 21500 zones for an up move towards 21650 and 21750 zones while on the downside supports are placed at 21250 and 21100 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: Kunal Bothra, Market Expert told ETNow

Infosys: Buy| Target Rs 1750| Stop Loss Rs 1645

Godrej Consumer Products: Buy| Target Rs 1199| Stop Loss Rs 1150

Tega Industries: Buy| Target Rs 1200| Stop Loss Rs 1110

Expert: Jayesh Bhanushali, Senior Derivative & Technical Research Analyst, IIFL told ETBureau

Zydus Life: Buy| Target Rs 790| Stop Loss Rs 725

Gujarat Gas: Buy| Target Rs 590| Stop Loss Rs 544

Power Grid: Buy| Target Rs 260| Stop Loss Rs 235

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

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