Stocks to buy today: Infosys, Hindalco among top 10 trading ideas

Synopsis

In the options market, the highest Call open interest (OI) is at the 27,000 strike, followed by the 26,500 strike. Conversely, the maximum Put OI is at the 25,000 strike and then at the 24,500 strike. Call writing is noted at the 26,000 and 27,000 strikes, while Put writing is observed at the 25,900 and 26,000 strikes.

The Indian market is likely to consolidate on Wednesday, tracking muted global cues.

The Nifty futures closed positively with gains of 0.15% at 25,956 levels on Tuesday.

On the options front, the maximum Call open interest (OI) is placed at the 27,000 strike, followed by the 26,500 strike, while the maximum Put OI is at the 25,000 strike and then at the 24,500 strike.

Call writing is observed at the 26,000 strike and then at the 27,000 strike, while Put writing is seen at the 25,900 strike and then at the 26,000 strike.

“Options data suggests a broader trading range between 25,600 and 26,600, with an immediate range between 25,800 and 26,300,” said Chandan Taparia, Analyst-Derivatives at Motilal Oswal Financial Services Limited.

“Nifty formed a small-bodied bullish candle on the daily frame on Tuesday and has been forming higher highs for the last five sessions,” he added.

“The index needs to hold above the 25,900 zone for an upward move towards 26,100 and then 26,250, while support levels are at 25,850 and then 25,750,” recommended Taparia.

We have collated a list of stocks from the F&O basket, along with cash market insights from various experts, for traders with a short-term trading horizon:

Expert: Jatin Gedia – Technical Research Analyst at Sharekhan by BNP Paribas told ETBureau

SAIL: Buy | Target Rs 143 | Stop Loss: Rs 131

Dr Reddy’s Laboratories: Buy | Target: Rs 6,778 | Stop Loss: Rs 6,580

F&O Strategy

Expert: Kunal Bothra, Market Expert told ETNow

UPL: Buy | Target: Rs 625 | Stop Loss: Rs 580

KEC International: Buy | Target: Rs 1,020 | Stop Loss: Rs 955

Expert: Nooresh Merani, an independent technical analyst told ETNow

NLC India: Buy | Target: Rs 320 | Stop Loss: Rs 275

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)

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