F&O Stocks to Buy Today: HUL, CEAT Among Top 7 Trading Ideas for August 22, 2024

On the options front, the maximum Call Open Interest (OI) is at the strike of 25,000, followed by the strike of 25,500, while the maximum Put OI is at the strike of 24,500, followed by the strike of 24,600. Minor Call writings are observed at the strikes of 24,800 and 24,900, while Put writings are observed at the strikes of 24,700 and 24,600.

“Options data suggests a broader trading range between 24,400 and 25,100 zones, while an immediate range is between 24,600 and 25,000 levels,” said Chandan Taparia, derivatives analyst at Motilal Oswal Financial Services Limited.

“Nifty formed a bullish candle on the daily time frame on Wednesday and has been making higher highs and higher lows over the last four sessions,” he said.

“Now the index has to continue holding above the 24,700 zones for an upward movement towards the 24,900 and then 25,000 levels, while support is seen at the 24,650 and then 24,450 zones,” Taparia recommended.

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

Expert: Jayesh Bhanushali, Senior Technical and Derivatives Research Analyst at IIFL, told ETBureau

CEAT:Buy | Target Rs 2,910 | Stop Loss: Rs 2,760

THEM:Buy | Target: Rs 2,890 | Stop Loss: Rs 2,720

Coal from India:Buy | Target: Rs 554 | Stop Loss: Rs 515

F&O Strategy: Jaynit Vora, CMT, Research Analyst at IIFL, told ETBureau

Deepak Fertilizers:Buy | Target: Rs 1,110 | Stop Loss: Rs 1,010

Expert: Nooresh Merani, an independent technical analyst, told ETNow

Unilever Hindustan:Buy | Target: Rs 3,000 | Stop Loss: Rs 2,760

Muthoot Finance:Buy | Target: Rs 2,100 | Stop Loss: Rs 1,880

Kolte Patil:Buy | Target: Rs 450 | Stop Loss: Rs 370

(Disclaimer:The recommendations, suggestions, views and opinions of the experts are their own and do not represent the views of The Economic Times.