Expert Stock Recommendations: TCS, ITC, and Bank of India for Short-Term Gains
TCS to ITC- Jay Thakkar suggests 3 stocks to buy or sell for short-term in F&O segment
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Jay Thakkar, Vice President & Head of Derivatives and Quant Research at ICICI Securities, recommends buying futures for Bank of India, Tata Consultancy Services (TCS), and ITC. With the Nifty 50 showing positive momentum and key support levels, these stocks are poised for potential gains in the near term.
- 01Nifty 50 closed at 24,576.60, gaining 211.75 points or 0.87%.
- 02Bank of India futures recommended at ₹149-151 with targets of ₹155-158.
- 03TCS futures suggested at ₹2,580-2,600 with targets of ₹2,700-2,760.
- 04ITC futures advised at ₹308-312 with targets of ₹325-330.
- 05Overall market sentiment is improving due to reduced short positions by foreign institutional investors.
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The Indian stock market is showing a negative start today, with the Gift Nifty trading around 24,445, down 118 points from the previous close. However, the Nifty 50 index finished on a high note yesterday, closing at 24,576.60, up 211.75 points or 0.87%. Jay Thakkar from ICICI Securities sees positive momentum in the Nifty 50, suggesting key support levels at 24,500, 24,300, and 24,000. He recommends buying futures for Bank of India at a price range of ₹149-151 with targets of ₹155-158, citing a positive outlook due to recent market trends. For Tata Consultancy Services (TCS), he suggests futures in the range of ₹2,580-2,600, targeting ₹2,700-2,760, noting a pause in decline and potential short covering. Lastly, ITC futures are recommended at ₹308-312, with targets of ₹325-330, as the FMCG sector shows signs of recovery. Overall, investor sentiment is improving, supported by reduced short positions among foreign institutional investors.
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Investors in these stocks could see potential short-term gains, impacting their investment portfolios positively.
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