Stocks to buy today: SBI, ICICI Bank among top 9 trading ideas for 2 December 2024

The Nifty futures closed positive with gains of 0.84%, ending at 24,318 levels on Friday. India VIX fell by more than 5% to close at 14.42 in the previous session.

On the options front, the maximum Call OI is placed at the 25,000 strike, followed by the 24,500 strike, while the maximum Put OI is placed at the 24,000 strike, followed by the 23,500 strike.

Call writing is seen at the 25,000 strike, followed by the 24,500 strike, while Put writing is seen at the 24,000 strike, followed by the 23,800 strike.

“Options data suggests a broader trading range between 23,600 to 24,600 zones, with an immediate range between 23,900 to 24,400 levels,” said Chandan Taparia, Head of Equity Derivatives & Technicals, Wealth Management at MOFSL.

“Nifty formed a small-bodied bearish candle on the weekly chart on Friday with a longer lower shadow, which indicates that support-based buying is intact. It also negated its lower tops and lower bottoms,” he said.“Now, the index needs to hold above the 24,000 zone for an up move towards 24,350, then 24,500 zones, while support can be seen at 24,000 and 23,850 zones,” Taparia recommended.We have collated a list of stocks from the F&O basket, along with cash market picks, from various experts for traders with a short-term trading horizon:

Alkem Laboratories: Buy | Target Rs 6,025 | Stop Loss Rs 5,450

APL Apollo: Buy | Target Rs 1,640 | Stop Loss Rs 1,445

BEL: Buy | Target Rs 344 | Stop Loss Rs 296

SBI: Buy | Target Rs 880 | Stop Loss Rs 820

Divi’s Laboratories: Buy | Target Rs 6,400 | Stop Loss Rs 6080

NMDC: Buy | Target Rs 240 | Stop Loss Rs 225

ICICI Bank: Buy | Target Rs 1,400 | Stop Loss Rs 1,270

PEL: Buy | Target Rs 1,350 | Stop Loss Rs 1,140

DCB Bank: Buy | Target Rs 140 | Stop Loss Rs 118

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