F&O stocks to buy today: Infosys, Sun Pharma among top 9 trading ideas for 7 March 2024

Indian market is likely to consolidate and head higher on Thursday tracking the positive trend seen in other Asian markets.

The Nifty future closed positive with gains of 0.75% at 22602 levels on Wednesday. India VIX fell 0.59%, ending the day below 14.30. This was the sixth trading session in a row where the fear index gave a negative closing.

“In the last few months, we have witnessed India VIX trading in a band between 14 and 17, and going forward, we expect this to continue. Below 14, India VIX could witness a further cool off to 13-12.80 levels,” Sudeep Shah, Deputy Vice President, Head of Technical and Derivative Research, SBI Securities, said.

“The Nifty Futures witnessed an addition of 7.72% Open Interest with 0.7% rise in prices implying Long buildup in the Indices,” he said.

“Nifty PCR is currently stronger at 1.34 level with meaningful call writing witnessed across 22500-22600 strikes, while put writing was witnessed in 22400-22200 strikes, implying that the range for the coming few sessions could be 22360 on the downside & 22600 on the upside,” highlighted Shah.

On the options front, the maximum Call OI is placed at 23000 and then towards 22800 strikes while maximum Put OI is placed at 22000 and then towards 22300 strikes.“Options data suggests a broader trading range in between 22000 to 23000 zones while an immediate trading range in between 22200 to 22600 zones,” Chandan Taparia, Analyst-Derivatives at Motilal Oswal Financial Services Limited, said.“The Nifty has to hold above 22400 zones, for an up move towards 22600 then 22750 zones whereas supports are placed at 22300 then 22222 zones,” he said.

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

Sun Pharma: Buy| Target Rs 1650| Stop Loss Rs 1570

Bank of Baroda: Buy| Target Rs 291| Stop Loss Rs 273

Zydus Life: Buy| Target Rs 1010| Stop Loss Rs 930

Expert: Nooresh Merani, an independent technical analyst told ETNow

Container Corp: Buy| Target Rs 1100| Stop Loss Rs 950

Bharti Airtel: Buy| Target Rs 1250| Stop Loss Rs 1160

Lemon Tree: Buy| Target Rs 160| Stop Loss Rs 130

Expert: Kunal Bothra, Market Expert told ETNow

Infosys: Buy| Target Rs 1700| Stop Loss Rs 1550

PNB: Buy| Target Rs 140| Stop Loss Rs 124

BSE: Buy| Target Rs 2400| Stop Loss Rs 2250

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

FOLLOW US ON GOOGLE NEWS

Read original article here

Denial of responsibility! Secular Times 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 – seculartimes.com. The content will be deleted within 24 hours.

Leave a Comment