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F&O stocks to buy today: RIL, SBI among top 10 trading ideas for 2 April 2024


Indian market is predicted to consolidate on Tuesday monitoring muted international cues.

The Nifty future closed optimistic with positive factors of 0.54% at 22,610 ranges on Monday. India VIX was down by 5.84% from 12.83 to 12.08 ranges.

Since it’s the starting of the brand new collection, choices knowledge is scattered at varied far-strike costs. On the weekly choices entrance, the utmost Name OI is positioned at 23,000 after which in direction of 22,500 strikes whereas the utmost Put OI is positioned at 22,000 after which in direction of 22200 strikes.

“Choices knowledge suggests a broader buying and selling vary in between 22000 to 22800 zones whereas a right away buying and selling vary in between 22300 to 22600 zones,” Chandan Taparia, Analyst-Derivatives at Motilal Oswal Monetary Companies Restricted, mentioned.

Within the money market, international traders (FIIs) began the brand new FY on a promote mode to the tune of Rs 522 cr whereas home institutional traders (DIIs) continued to be web consumers on Monday to the tune of Rs 1208 cr.

FIIs’ Lengthy brief ratio for index futures on the Inception of a recent collection is at 45% as on a web foundation, they purchased 2264 index futures.“There’s a robust assist lies round 22180. The zone of 22500-22520 would be the quick hurdle for the index for the day,” Sudeep Shah, Deputy Vice President, Head of Technical and Spinoff Analysis, SBI Securities, mentioned.“Any sustainable transfer above the extent of 22520 will result in a short-covering transfer in Nifty in direction of 22650-22680 within the brief time period,” he mentioned.

“If the index slips beneath 22180, it’ll result in additional promoting stress within the index upto the 22050-22020 stage,” beneficial Shah.

We’ve collated an inventory of shares from the F&O basket together with money market from varied consultants for merchants who’ve a short-term buying and selling horizon:

Knowledgeable: Dharmesh Shah, Head – Technical, ICICI Securities informed ETBureau

RIL: Purchase| Goal Rs 3108| Cease Loss Rs 2898

SBI: Purchase| Goal Rs 792| Cease Loss Rs 738

Adani Ports: Purchase| Goal Rs 1455| Cease Loss Rs 1336

SAIL: Purchase| Goal Rs 148| Cease Loss Rs 135

Knowledgeable: Kunal Bothra, Market Knowledgeable informed ETNow

LIC: Purchase| Goal Rs 1030| Cease Loss Rs 940

UltraTech Cements: Purchase| Goal Rs 10,190| Cease Loss Rs 9820

Wonderla Holidays: Purchase| Goal Rs 1050| Cease Loss Rs 960

Knowledgeable: Nooresh Merani, an unbiased technical analyst informed ETNow

IRCTC: Purchase| Goal Rs 1100| Cease Loss Rs 950

ICICI Bank: Purchase| Goal Rs 1200| Cease Loss Rs 1070

Mahindra Lifespace Builders: Purchase| Goal Rs 750| Cease Loss Rs 590

(Disclaimer: Suggestions, strategies, views, and opinions given by consultants are their very own. These don’t characterize the views of the Financial Instances)



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