1 week ago
Jay Thakkar suggests three F&O stocks for short-term gains
Jay Thakkar shared three short-term stock ideas for futures traders.
He recommended Indus Towers, AU Small Finance Bank, and Fortis Healthcare.
Each recommendation includes a buying range, a level at which traders should limit losses, and two possible price targets.
He believes the Nifty 50 may rise if it stays above 24,000.
He also said the index could move sharply after a long period of consolidation.
Indian markets opened almost flat on Wednesday but had a slightly positive tone.
Lower oil prices helped investor sentiment.
Talks involving Iran and Oman about shipping through the Strait of Hormuz also supported markets.
These are market opinions and do not guarantee that the stocks will rise.
Jay Thakkar of ICICI Securities expects the Nifty 50 could break out toward 24,800–25,000 if 24,000 support holds.
He recommends buying Indus Towers futures at ₹385–388, with a stop loss below ₹375 and targets of ₹400 and ₹410.
AU Small Finance Bank futures are recommended at ₹1,120–1,135, with a stop loss below ₹1,095 and targets of ₹1,165 and ₹1,185.
Fortis Healthcare futures are recommended at ₹920–930, with a stop loss below ₹900 and targets of ₹965 and ₹985.
Markets opened largely flat with a positive bias as falling crude prices and Iran-Oman talks eased some investor concerns.
- Who
- Jay Thakkar, Vice President and Head of Derivatives and Quant Research at ICICI Securities, provided the recommendations.
- What
- He recommended short-term long positions in Indus Towers, AU Small Finance Bank, and Fortis Healthcare futures, while giving an outlook for a possible Nifty 50 breakout.
- Where
- The recommendations concern India’s stock and futures markets; wider market sentiment was also influenced by developments around the Strait of Hormuz.
- When
- The recommendations were reported on Wednesday during the market opening; they apply to the short term and reference the August and September derivatives series.
- Why
- Thakkar cited technical breakouts, short covering, open-interest patterns, options support levels, and the Nifty 50 holding above 24,000.
Key facts
- Market opening
- The Nifty 50 rose 0.03% to 24,341.95, while the BSE Sensex fell 0.30% to 77,892.10 at 9:15 IST.
- Nifty outlook
- Thakkar said the Nifty 50 could move toward 24,800–25,000 if the 24,000 support level holds.
- Indus Towers futures
- Buy range: ₹385–388; stop loss below ₹375; targets: ₹400 and ₹410.
- AU Small Finance Bank futures
- Buy range: ₹1,120–1,135; stop loss below ₹1,095; targets: ₹1,165 and ₹1,185.
- Fortis Healthcare futures
- Buy range: ₹920–930; stop loss below ₹900; targets: ₹965 and ₹985.
- Market catalyst
- Brent crude fell 2.7% to $86.20 a barrel after Iran and Oman discussed a temporary navigation corridor through the Strait of Hormuz.
Sources
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