Short-Term F&O Strategy: Jay Thakkar Recommends Long Positions in Tata Steel, BEL, and Union Bank

In his latest market analysis for Livemint, Jay Thakkar of ICICI Securities highlighted a cautiously optimistic outlook for the Indian markets, noting that the Nifty 50 could see a recovery if it holds the crucial 24,900 support level. Thakkar identified a shift in market sentiment toward the metal and banking sectors, pointing to significant long rollovers and open interest patterns as key drivers for short-term gains. He suggests that while global sentiment remains positive, investors should focus on stocks showing “long build-up” and technical breakouts to navigate the current volatility ahead of the February expiry.

For individual stock picks, Thakkar recommends initiating long positions in Tata Steel February Futures, noting its consistent formation of higher tops and bottoms and its ability to close above the 190 call base. Similarly, he views Bharat Electronics Ltd (BEL) February Futures as a strong candidate for an upside breakout, citing its steady consolidation range and the upward shift of its support levels toward the 420 mark. Rounding out his picks, Thakkar is bullish on Union Bank February Futures, citing the outperformance of the Nifty PSU Bank Index and predicting significant call unwinding once the stock clears the 180 resistance strike.