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    F&O stocks to buy today: Indigo, L&T among top 6 trading ideas for 19 March 2024

    Synopsis

    Positive market setup was seen in stocks like Tata Steel, Jindal Steel, M&M, Tata Power, Tata Motors, ABB, Godrej Consumer Products, PI Industries, Bajaj Auto, OFSS, Pidilite Industries, SRF, Indigo, etc. among others.

    F&O stocks to buy today: Indigo, L&T among top 6 trading ideas for 19 March 2024ETMarkets.com
    The Indian market is likely to consolidate on Tuesday tracking muted global cues.

    The Nifty future closed flat at 22134 levels on Monday. India VIX was up by 1.50% from 13.69 to 13.90 levels.

    Volatility has been hovering within a band and creating swings in the market.

    Positive market setup was seen in stocks like Tata Steel, Jindal Steel, M&M, Tata Power, Tata Motors, ABB, Godrej Consumer Products, PI Industries, Bajaj Auto, OFSS, Pidilite Industries, SRF, Indigo, etc. among others.

    On the options front, the weekly maximum Call OI is placed at 22,200 and then towards 22,500 strikes while the maximum Put OI is placed at 22,000 and then towards 21,800 strikes.

    Minor Call writing is seen at 22,200 and then towards 22,250 strikes while Put writing is seen at 21,850 and then towards 21,900 strikes.

    “Options data suggests a shift in trading range in between 21,500 to 22,500 zones while an immediate trading range in between 21,800 to 22,200 zones,” Chandan Taparia, Analyst-Derivatives at Motilal Oswal Financial Services Limited, said.

    “Nifty formed a small-bodied Bullish candle on the daily scale on Monday with longer shadows on either side indicating swings,” he said.

    “Now the index has to hold above 22,000 zones, for a bounce towards 22,222 then 22,350 zones whereas supports are placed at 21,850 and 21,750 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: Dharmesh Shah, Head – Technical, ICICI Securities told ETBureau



    L&T: Buy| Target Rs 3720| Stop Loss Rs 3469

    Axis Bank: Buy| Target Rs 1116| Stop Loss Rs 1034

    V-Guard: Buy| Target Rs 342| Stop Loss Rs 311

    Expert: Nooresh Merani, an independent technical analyst told ETNow


    InterGlobe Aviation: Buy| Target Rs 3500| Stop Loss Rs 3150

    JSW Steel: Buy| Target Rs 850| Stop Loss Rs 790

    GE Shipping: Buy| Target Rs 1200| Stop Loss Rs 950

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



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    (You can now subscribe to our ETMarkets WhatsApp channel)

    (What's moving Sensex and Nifty Track latest market news, stock tips, Budget 2024 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 .)

    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

    ...more
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