Stocks to Buy and Sell in F&O: Jay Thakkar's Short-Term Recommendations

Indian Stock Markets Experience Significant Rise

On Wednesday, the Indian stock markets witnessed a notable increase, following a sharp decline in the benchmark indices due to a major global tech selloff. The Sensex surged by nearly 700 points in the morning, while the Nifty 50 remained above the 25,650-level.

As of 14:11 IST, the Nifty 50 was trading flat at 25,461.25, and the BSE Sensex was trading at 82,217.79. The indices had dropped over 1% the previous day.

Market dynamics appear mixed, with gains in the auto, metal, pharma, and midcap sectors countered by declines in banking, FMCG, real estate, and certain defensive stocks. This trend indicates selective risk-taking rather than a widespread consensus, as investors shift their focus within sectors amid cautious sentiment and stock-specific strategies.

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Market Outlook

According to Jay Thakkar, Vice President & Head of Derivatives and Quant Research at ICICI Securities, the Nifty 50 has closed in the negative territory on the day of Monthly expiry for February series. However, the rollover data suggests that the FIIs have significantly reduced the short positions from above 2 lakh contracts to now 1.06 lakh contracts, indicating a positive sign for the bulls.

Stock Recommendations

Based on the market analysis, Jay Thakkar recommends the following stocks for the near-term:

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• Cholamandalam Investment and Finance Company Futures: Buy in the range of ₹1,325-1,735; targets of ₹1,785-1,825; stop loss of ₹1,690
• Colgate Palmolive (India) Futures: Buy in the range of ₹2,220-2,240; targets of ₹2,320-2,400; stop loss of ₹2,170
• Exide Industries Futures: Buy in the range of ₹332-336; targets of ₹345-352; stop loss of ₹322