Stocks to buy today: TVS Motor, OIL among top 7 trading ideas for January 3, 2025
On the options front, the maximum Call OI is placed at 25,000, followed by 24,500 strikes, while the maximum Put OI is placed at 24,000, followed by 23,800 strikes.
Call writing is observed at 24,200, followed by 24,800 strikes, while Put writing is seen at 24,000, followed by 24,200 strikes.
“Options data suggests a broader trading range between 23,800 and 24,600 zones, with an immediate range between 23,900 and 24,400 levels,” said Chandan Taparia, Head of Equity Derivatives & Technicals at Wealth Management, MOFSL.
“Nifty formed a big bullish candle on the daily chart on Thursday and has started forming higher highs and higher lows over the last two sessions,” he added.
“Now, the index needs to hold above the 24,100 zone for an upmove towards 24,400 and then 24,600 zones, while support levels are at 24,100 and 23,900,” Taparia recommended.We have compiled a list of stocks from the F&O basket along with cash market recommendations from various experts for traders with a short-term trading horizon:
Expert: Amol Athawale, VP – Technical Research at Kotak Securities
TVS Motor Company Ltd: Buy | Target Rs 2,580 | Stop Loss Rs 2,470
REC Ltd: Buy | Target Rs 535 | Stop Loss Rs 510
Canara Bank: Buy | Target Rs 105 | Stop Loss Rs 98
Muthoot Finance: Buy | Target Rs 2,320 | Stop Loss Rs 2,220
Expert: Nooresh Merani, Independent Technical Analyst, told ETNow
Container Corp: Buy | Target Rs 850 | Stop Loss Rs 778
OIL: Buy | Target Rs 500 | Stop Loss Rs 450
L&T Finance: Buy | Target Rs 155 | Stop Loss Rs 138
(Disclaimer: Recommendations, suggestions, views, and opinions given by experts are their own. These do not represent the views of the Economic Times)
