ACC to TVS Motor -Jay Thakkar suggests three stocks to buy for short-term in F&O segment

Stock market news: Indian stock indices maintained an upward trend for the fourth consecutive session, bolstered by favorable global cues, relative calm regarding the Israel-Iran conflict, and the potential extension of the tariff deadline set for July 9 by the US government.

A spokesperson from the White House suggested on Thursday that the reciprocal tariff deadline might be postponed, but emphasized that the final decision rests with President Donald Trump. Meanwhile, President Trump indicated that a “great deal” involving India is forthcoming, which has improved investor confidence. The Indian negotiation team is currently in the United States working on a trade agreement.

India’s robust domestic fundamentals, an agile RBI, and favorable monsoon conditions are supporting the financial markets. With US markets reaching record highs and the US dollar weakening, emerging markets such as India are expected to gain.

The Sensex concluded the day at 84,058 points, rising by 303 points, while the Nifty 50 finished at 25,637 points, up by 89 points.

Market Outlook by Jay Thakkar, Vice President & Head of Derivatives and Quant Research, ICICI Securities

Nifty 50

Nifty 50 has provided a clean breakout from the sideways consolidation; thus, the short-term trend is bullish. The June series ended on a positive note as Nifty 50 closed above 25,300 levels and the FIIs also reduced their short positions on the Index to quite an extent i.e. from over 1 lakh to merely 35,000 contracts , they also had bought huge in the equity cash segment of over 12,500 crores.

So, the short covering coupled with strong buying in equity cash segment led to a clean breakout and thus the uptrend has been established. There was strong call writing in the range of 25,200-25,300 prior to the breakout, hence this range now becomes an immediate support, whereas, 26,000 to 26,300 are the short to medium term targets. The Bank Nifty has also provided a clean breakout above 56,500 levels, thus the supporting Nifty 50 to inch higher.

Stocks To Buy in the near-term – Jay Thakkar

Jay Thakkar of ICICI Securities recommends TVS Motor Futures, Mahanagar Gas Futures, and ACC Futures.

Buy TVS Motor Futures in the range of ₹2,920 – 2,940 stop loss: ₹2,840 Targets: ₹3,040 to ₹3,100

TVS Motor has provided a breakout from the sideways consolidation with a clear long built up, indicating further uptrend in the stock. The stock has been one of the outperformers in the two-wheeler segment and hence the upside probability seems higher. There has been good put additions at the lower levels as well as call unwinding indicating good upside possibility. Currently, the stock is trading above its max pain and modified max pain level as well as its 20-day VWAP levels, hence the short-term trend appears bullish

Buy Mahanagar Gas Futures in the range of ₹1,520-1,500 Stop loss: ₹1,450 Targets: ₹1,600 and ₹1,650

Mahanagar Gas had seen huge short built in the previous fall post which the stock managed to bounced back and consolidate. In the entire consolidation period, the stock had witnessed short covering and finally it has provided a breakout from the consolidation which is much positive in the near term. The stock has now moved above its 20-day VWAP as well as its max pain and modified max pain levels, so the upside potential is higher.

Buy ACC Futures in the range of ₹1,920 -1,940 Stop loss ₹1,870 Targets ₹2,020 and ₹2,060

The cements sector is witnessing good long built up overall and in the case of ACC short covering is expected in the short term as the stock has formed multiple bottoms as well as the sector is in overall uptrend. Although there is higher call base at 1900 and 2000 strikes, however, there is good unwinding of calls below 1900 strike, hence the uptrend has a higher probability in the near term. The stock is also trading well above its 20-day VWAP now as well as its above max pain level.

Disclaimer: The Research Analyst or his relatives or I-Sec do not have actual/beneficial ownership of 1% or more securities of the subject company, at the end of 27/06/2025 or have no other financial interest and do not have any material conflict of interest.

The views and recommendations provided in this analysis are those of individual analysts or broking companies, not Mint. We strongly advise investors to consult with certified experts before making any investment decisions, as market conditions can change rapidly and individual circumstances may vary.