F&O stocks to buy today: Sun TV, TCS among top 7 trading ideas for 5 March 2024
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Synopsis
Indian market expected to consolidate on mixed global cues. Nifty future closed negative. Positive setup in stocks. IndiaVix cooled off below 15 levels. Momentum supports largecaps. Nifty PCR at 1.25 level. Short-term trading recommendations by Dharmesh Shah and Kunal Bothra.
By ETMarkets.com
Last Updated:
Indian market is expected to consolidate on Tuesday tracking mixed global cues.
Positive setup was seen in stocks like BHEL, NTPC, Tata Communication, Gail India, PEL, Tata Power, MFSL, IGL, MGL, Petronet LNG, SAIL, Power Grid, ONGC, ABB India, NMDC, AB Capital, etc. among others.
“Nifty, as well as Bank Nifty, ended the day on a flat note consolidating the gains it had witnessed in the previous week,” Sudeep Shah, Deputy Vice President, Head of Technical and Derivative Research, SBI Securities, said.
“With the upsurge in Indices, IndiaVix has further cooled off below 15 levels for the second consecutive session. 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,” he said.
“With the momentum supporting largecaps, the index is likely to continue this strong momentum and continue creating record highs in coming sessions till it sustains above 22250-22270,” recommended Shah. Below 22250, profit booking upto 22080-22000 could be witnessed, he added.
The Nifty PCR is currently at 1.25 level with meaningful call writing witnessed across 22400-22500 strikes, while put writing was witnessed in 22400-22200 strikes, implying that the range for the coming few sessions could be 22180 on the downside & 22600 on the upside.
In the cash markets, FIIs sold to the tune of 564.06 cr while DIIs bought to the tune of 3542.87 cr on Monday. FIIs' Long short ratio for index futures is at 37.99 as on a net basis, they bought 11285 index futures.
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
TCS: Buy| Target Rs 4266| Stop Loss Rs 3980
Titan Company: Buy| Target Rs 3900| Stop Loss Rs 3638
Bank of Baroda: Buy| Target Rs 286| Stop Loss Rs 266
Hindustan Aeronautics: Buy| Target Rs 3362| Stop Loss Rs 3130
Expert: Kunal Bothra, Market Expert told ETNow
Sun TV: Buy| Target Rs 700| Stop Loss Rs 606
Tata Chemicals: Buy| Target Rs 1050| Stop Loss Rs 970
KEI Industries: Buy| Target Rs 3600| Stop Loss Rs 3300
(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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The Nifty future closed negative with losses of 0.01% at 22499 levels on Monday. India VIX was down by 0.47% from 15.24 to 14.92 levels.Positive setup was seen in stocks like BHEL, NTPC, Tata Communication, Gail India, PEL, Tata Power, MFSL, IGL, MGL, Petronet LNG, SAIL, Power Grid, ONGC, ABB India, NMDC, AB Capital, etc. among others.
“Nifty, as well as Bank Nifty, ended the day on a flat note consolidating the gains it had witnessed in the previous week,” Sudeep Shah, Deputy Vice President, Head of Technical and Derivative Research, SBI Securities, said.
“With the upsurge in Indices, IndiaVix has further cooled off below 15 levels for the second consecutive session. 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,” he said.
“With the momentum supporting largecaps, the index is likely to continue this strong momentum and continue creating record highs in coming sessions till it sustains above 22250-22270,” recommended Shah. Below 22250, profit booking upto 22080-22000 could be witnessed, he added.
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The Nifty PCR is currently at 1.25 level with meaningful call writing witnessed across 22400-22500 strikes, while put writing was witnessed in 22400-22200 strikes, implying that the range for the coming few sessions could be 22180 on the downside & 22600 on the upside.
Stocks Recommendations
In the cash markets, FIIs sold to the tune of 564.06 cr while DIIs bought to the tune of 3542.87 cr on Monday. FIIs' Long short ratio for index futures is at 37.99 as on a net basis, they bought 11285 index futures.
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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
TCS: Buy| Target Rs 4266| Stop Loss Rs 3980Titan Company: Buy| Target Rs 3900| Stop Loss Rs 3638
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Bank of Baroda: Buy| Target Rs 286| Stop Loss Rs 266
Hindustan Aeronautics: Buy| Target Rs 3362| Stop Loss Rs 3130
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Expert: Kunal Bothra, Market Expert told ETNow
Sun TV: Buy| Target Rs 700| Stop Loss Rs 606Tata Chemicals: Buy| Target Rs 1050| Stop Loss Rs 970
KEI Industries: Buy| Target Rs 3600| Stop Loss Rs 3300
(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)
