Stock Picks for Monthly Expiry Day on Thursday: In yet another session marked by choppy trading, the benchmark Nifty 50 index closed in the red on Wednesday, shedding 0.3% to settle at 24,752.45. On the other hand, the Bank Nifty bucked the trend, posting a modest gain of 0.12%, thanks to strength in PSU Banks. However, most other sectors, led by FMCG and Healthcare, ended the day lower.
In the broader market, the mid-cap index held steady while small-cap stocks managed to eke out marginal gains, reflecting mixed investor sentiment ahead of the monthly F&O expiry on Thursday.
Trade Setup for Thursday (Monthly Expiry Day)
As we head into the monthly expiry, analysts are closely watching key technical levels:
- Nifty 50 has strong support near 24,600, which aligns with its 20-day Exponential Moving Average (EMA). On the upside, resistance is likely between 24,900 and 25,000, according to Nandish Shah, Deputy Vice President, HDFC Securities.
- Bank Nifty continues to face resistance around 56,000–56,100, while finding support near 54,830, notes Hrishikesh Yedve, AVP – Technical and Derivatives Research at Asit C. Mehta Investment Intermediates.
Macro Cues: Global Jitters, Domestic Optimism
The domestic markets lacked strong triggers and remained in a narrow range. Weak foreign institutional investor (FII) inflows and concerns over India-US trade relations following the expiry of a 90-day pause period have added an external layer of caution.
Despite this, India’s internal environment offers a few positives:
- Improved monsoon forecasts
- Benign inflation trajectory
- Stronger-than-expected Q4 GDP projections
However, earnings visibility still remains a concern. “Macroeconomic improvements need to be matched with consistent earnings delivery to sustain momentum,” said Vinod Nair, Head of Research, Geojit Financial Services.
Top Stock Picks to Watch on Thursday
Ahead of the monthly expiry, experts from leading brokerages have handpicked eight stocks based on technical indicators and bullish chart patterns.
Sumeet Bagadia’s Picks (Choice Broking)
- Force Motors Ltd (FORCEMOT)
- Buy at: ₹11,764
- Target: ₹12,550
- Stop Loss: ₹11,350
- Rationale: Strong uptrend supported by bullish breakout and reclaiming the 20-day EMA. Indicates sustained bullish sentiment.
- Astra Microwave Products Ltd (ASTRAMICRO)
- Buy at: ₹1,163.70
- Target: ₹1,240
- Stop Loss: ₹1,122
- Rationale: Trading at all-time highs, backed by volume growth and a breakout above ₹1,100. Positive technical momentum.
Ganesh Dongre’s Picks (Anand Rathi)
- SRF Ltd
- Buy at: ₹2,900
- Target: ₹3,100
- Stop Loss: ₹2,840
- Rationale: Bullish reversal pattern suggests upward retracement with key support holding firm.
- Cummins India Ltd (CUMMINSIND)
- Buy at: ₹2,975
- Target: ₹3,100
- Stop Loss: ₹2,935
- Rationale: Reversal near support level. Technical patterns support continuation of upward movement.
- ICICI Prudential Life Insurance Ltd (ICICIPRULI)
- Buy at: ₹658
- Target: ₹695
- Stop Loss: ₹640
- Rationale: Bullish reversal near key support, suggesting potential rebound.
Shiju Koothupalakkal’s Intraday Picks (Prabhudas Lilladher)
- TD Power Systems Ltd
- Buy at: ₹489
- Target: ₹520
- Stop Loss: ₹480
- Rationale: Higher bottom pattern, positive RSI trend reversal. Daily candle formation suggests further upside.
- Tanla Platforms Ltd (TANLA)
- Buy at: ₹609
- Target: ₹640
- Stop Loss: ₹595
- Rationale: Fresh breakout with bullish candles, strong RSI. Technically positioned for upward momentum.
- Indraprastha Gas Ltd (IGL)
- Buy at: ₹213
- Target: ₹224
- Stop Loss: ₹208
- Rationale: Bullish candle formation after consolidation, RSI confirms trend reversal.
As volatility continues and global headwinds persist, traders and investors are advised to approach expiry day with caution. Technical levels will be crucial, and sector-specific trends — particularly in PSU banks — could play a pivotal role in market direction.
Stock-specific action remains robust, with several counters showing promising chart setups. However, traders should maintain strict discipline with stop-loss levels and monitor broader market cues closely.
Disclaimer: Stock market investments are subject to market risk. The views above are of individual analysts and brokerage firms. Always consult your financial advisor before making any investment decisions.
