c HPCL, Canara Bank among top 4 trading ideas for 29 May 2025
The Indian market is likely to trade in the green on Thursday, tracking positive global cues.
The Nifty future closed negatively with losses of 0.46% at 24,747 levels on Wednesday. India VIX fell 2.7% to close at 18.02 in the previous trading session.
On the options front, the maximum Call OI is placed at 24,800 and then towards 25,000 strikes while the maximum Put OI is placed at 24,500 and then towards 24,700 strikes.
Call writing is seen at 24,800 and then towards 25,300 strikes, while Put writing is seen at 24,750 and then towards 24,700 strikes.
'Options data suggests a broader trading range in between 24,300 to 25,300 zones while an immediate range between 24,500 to 25,000 levels,' Chandan Taparia, Analyst-Derivatives at
Motilal Oswal Financial Services Limited
, said.
'Nifty formed a small bodied bearish candle and an inside bar on the daily frame on Wednesday,' he added.
'Now the index has to hold above 24,700 zones for an up move towards 24,900 then 25,100 zones else weakness could be seen towards 24,600 then 24,450 zones,' recommended Taparia.
We have collated stocks from various experts for traders who have a short-term trading horizon:
Expert: Jaynit Vora, CMT - Research Analyst, IIFL told ETBureau
Deepak Fertilizers Ltd:
Buy| Target Rs 1520| Stop Loss Rs 1390
HPCL
:
Buy| Target Rs 438| Stop Loss Rs 404
Canara Bank
:
Buy| Target Rs 117| Stop Loss Rs 107
F&O Strategy –
Siemens:
Buy| Target Rs 3495| Stop Loss Rs 3225
Expert: Kunal Bothra, Market Expert told ETNow
MFSL:
Buy| Target Rs 1550| Stop Loss Rs 1475
Container Corp:
Buy| Target Rs 800| Stop Loss Rs 755
Union Bank of India
:
Buy| Target Rs 150| Stop Loss Rs 139
(
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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