F&O stocks to buy today: ICICI Bank, Tata Chemicals among top 7 trading ideas for 21 June (2024)

The Indian market is likely to trade higher but could see profit-taking at higher levels amid mixed global cues.

The Nifty future closed positive, with gains of 0.40% at 23597 levels on Thursday. The India VIX was down by 2.68% from 13.71 to 13.34 levels.

On the options front, the maximum Call OI is placed at 24000 and then towards 23500 strikes, while the maximum Put OI is placed at 23000, and then towards 23300 strikes.

Call writing is seen at 23600 and then towards 23800 strikes, while Put writing is seen at 23500 and then towards 23300 strikes.

“Options data suggests a broader trading range in between 23200 to 24000 zones, while an immediate range between 23400 to 23700 levels,” says Chandan Taparia, Analyst-Derivatives at Motilal Oswal Financial Services Limited.

FIIs bought to the tune of 415.3 crore, while DIIs sold to the tune of 325.81 crore in the cash segment of Indian equity markets on Thursday.

FIIs' Long short ratio for index futures is at 56.74 as on a net basis, they bought 28406 index futures, data showed.

“The support for Nifty has shifted higher in the 23,500-23,470 zone. As long as it is trading above the 23,470 level, it is likely to test the level of 23,750, followed by 24,000 in the short term,” says Sudeep Shah, Deputy Vice President and head of Technical and Derivative Research, SBI Securities.

“While, on the downside, any sustainable move below the level of 23,470 will lead to profit booking in the index up to the level of 23,350, followed by 23,270 level,” he said.

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: Shrikant Chouhan, Head of Equity Research (Retail) at Kotak Securities told ETBureau
Tata Chemicals: Buy | Target: Rs 1,190| Stop Loss: Rs 1,135

PI Industries: Buy | Target: Rs 3,890 | Stop Loss: Rs 3,720

Mphasis: Buy | Target: Rs 2,500| Stop Loss: Rs 2,390

Hindustan Zinc: Buy | Target: Rs 666 | Stop Loss Rs 636

Expert: Nooresh Merani, an independent technical analyst told ETNow

ICICI Bank: Buy | Target: Rs 1,300 | Stop Loss: Rs 1,130

LTF: Buy | Target: Rs 195 | Stop Loss: Rs 179

KPR Mills: Buy | Target: Rs 1,000 | Stop Loss: Rs 860

(Disclaimer: Recommendations, suggestions, views, and opinions given by experts are their own. These do not represent the views of the Economic Times)