F&O stocks to buy today: Infosys, Hindalco among top 6 trading ideas for 12 December 2023
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The Nifty futures closed positive with gains of 0.02% at 21079 levels on Monday. India VIX was up by 2.31% from 12.47 to 12.75 levels. Volatility was slightly high but created momentum for new price territory in the market.
Positive setup was seen in stocks like Dixon Technologies, Poly Cab, Jindal Steel, RBL Bank, Naukri, Tata Power, SAIL, DLF, HAL, MGL, ZEEL, OFSS, PNB, Siemens, IRCTC and Canara Bank.
On the weekly options front, the maximum Call OI is placed at 21000 and then towards 21500 strikes while the maximum Put OI is placed at 20900 and then towards 21000 strikes.
Call writing is seen at 21000 and then towards 21500 strikes while Put writing is seen at 20900 and then towards 21000 strikes.
“Options data suggests a broader trading range in between 20700 to 21300 zones while an immediate trading range between 20800 to 21200 zones,” Chandan Taparia, Analyst-Derivatives at Motilal Oswal Financial Services Limited, said.
Nifty formed a Bullish candle on the daily frame with a longer lower shadow indicating buying visible on any dips, he said.“Now the index has to hold above 20900 zones, for an up move towards 21250 then 21350 zones whereas supports are placed at 20850 then 20750 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: Ajit Mishra, SVP – Technical Research, Religare Broking Ltd told ETBureau
Glenmark Pharma: Buy| Target Rs 890| Stop Loss Rs 785
Infosys: Buy| Target Rs 1560| Stop Loss Rs 1455
Hindalco: Buy| Target Rs 540| Stop Loss Rs 508
ZEEL: Buy| Target Rs 325| Stop Loss Rs 265
Expert: Kunal Bothra, Market Expert told ETNow
Cholamandalam Investment & Finance: Buy| Target Rs 1225| Stop Loss Rs 1150
Marico: Buy| Target Rs 566| Stop Loss Rs 531
Parag Milk: Buy| Target Rs 278| Stop Loss Rs 254
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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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