F&O stocks to buy today: MCX, HDFC Life among top 5 trading ideas for July 26, 2024 (2024)

Nifty has declined for the past five days, but strong Wall Street cues suggest a rebound this Friday. The benchmark Sensex and Nifty indices are expected to open flat to positive on July 26, following GIFT Nifty trends, which indicate a gain of 20 points for the broader index.

Yesterday, FIIs were net sellers of Rs 2,605 crore, while DIIs were net buyers of Rs 2,432 crore. Nifty options data points to a trading range of 23,500-25,000, with major resistance at 24,800.

“Nifty can find support at 24,300 followed by 24,350 and 24,200. On the higher side, 24,500 can be an immediate resistance, followed by 24,550 and 24,600,” said Deven Mehata, Analyst at Choice Broking.

The charts of Bank Nifty indicate that it may get support at 50,600, followed by 50,500 and 50,300. If the index advances further, 51,000 would be the initial key resistance, followed by 51,200 and 51,500, Mehata added.

India Vix was positive yesterday up by 7.27% and is currently trading at 12.6175.

Nifty ended Thursday's expiry on a flat note but formed a bullish counterattack-type pattern on the daily chart despite a weak global trade setup. The index is currently holding immediate and key support at its 20-daily EMA, and maintaining this level will help attract bullish strength, according to chartists.

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: Kunal Bothra, Market Expert told ETNow

Zydus Life: Buy | Target: Rs 1,280 | Stop Loss: Rs 1,160

HDFC Life: Buy | Target: Rs 750 | Stop Loss: Rs 655

MCX: Buy | Target: Rs 4,400 | Stop Loss: Rs 4,000

F&O Strategy: Amit Trivedi, Vice President at YES Securities told ETBureauShree Cement Futures (29 Aug Expiry): Buy | Target price: Rs 28,600 | Stop loss: Rs 27,000

Sun Pharma Futures (29 Aug Expiry): Buy | Target price: Rs 1,750 | Stop Loss: Rs 1,600

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

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