Stocks to buy or sell today: City Union Bank, GAIL among top 4 trading ideas for 21 May 2025
The Nifty future closed negatively with a loss of 0.78% at 24,782 levels on Tuesday. India VIX rose marginally to close at 17.38 in the previous session.
On the options front, the maximum Call OI is placed at 25,000 and then towards 25,100 strikes, while the maximum Put OI is placed at 24,000 and then towards 24,500 strikes.
Call writing is seen at 25,000 and then towards 24,800 strikes while Put writing is seen at 24,500 and then towards 24,300 strikes.
'Options data suggests a broader trading range in between 24,300 to 25,200 zones while an immediate range between 24,500 to 24,900 levels,' Chandan Taparia, Analyst-Derivatives at
Motilal Oswal Financial Services
Limited, said.
'Further, the index has been forming lower highs for the last three trading sessions, indicating a cautious undertone in the market. It formed a bearish candle on the daily chart on Tuesday and closed the day near its day's low,' he added.
'Now till Nifty50 holds below 24,850 zones, profit booking could be seen towards 24,550 then 24,444 zones while hurdles can be seen at 24,850 then 25,000 zones,' recommended Taparia.
Nifty Bank formed a bearish candle on the daily scale on Tuesday as selling pressure was seen at higher levels.
We have collated stocks from various experts for traders who have a short-term trading horizon:
Expert: Jatin Gedia – Technical Research Analyst at Sharekhan by BNP Paribas told ETBureau
City Union Bank
:
Buy| Target Rs 203| Stop Loss Rs 189
Dr Reddy's Laboratories Ltd:
Buy| Target Rs 1265| Stop Loss Rs 1200
GAIL India
:
Buy| Target Rs 203| Stop Loss Rs 186
F&O Strategy –
UPL (May FUT): Sell| Target Rs 610| Stop Loss Rs 645
(
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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