Stocks to buy on Budget Day 2025: SBI, UPL among top 9 stocks to buy on 1st February 2025

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The Nifty future closed positively with gains of 0.96%, ending at 23,642 levels on Friday. India VIX fell more than 6% to close at 16.25 in the previous trading session.

On the options front, the maximum Call OI is placed at the 24,000 strike, followed by the 23,000 strike, while the maximum Put OI is at the 23,000 strike, followed by the 23,500 strike.

Call writing is observed at the 23,500 and 24,000 strikes, while Put writing is seen at the 23,400 and 23,500 strikes.

“Options data suggests a broader trading range between 23,100 to 24,000 zones, with an immediate range between 23,300 to 23,800 levels,” said Chandan Taparia, Analyst-Derivatives at Motilal Oswal Financial Services Limited.

“Nifty formed a bullish candle on the daily chart on Friday and has started forming higher highs and higher lows for the last four sessions,” he added.

“Now, the index needs to hold above the 23,350 zone for an upmove towards 23,700 and then 23,800, while supports are placed at 23,350 and 23,100 zones,” Taparia recommended.

We have collated stock recommendations from various experts for traders with a short-term trading horizon:

Expert: Nooresh Merani, Independent Technical Analyst (ETNow)

MGL: Buy | Target Rs 1,500 | Stop Loss Rs 1,350

Manappuram Finance: Buy | Target Rs 220 | Stop Loss Rs 185

UPL: Buy | Target Rs 700 | Stop Loss Rs 570

JMF Financial: Buy | Target Rs 140 | Stop Loss Rs 100

BEL: Buy | Target Rs 320 | Stop Loss Rs 280

Expert: Angel One Research

Ashok Leyland: Buy | Target Rs 265 | Stop Loss Rs 189

HAL: Buy | Target Rs 4,700 | Stop Loss Rs 3,480

JK Cement: Buy | Target Rs 5,780 | Stop Loss Rs 4,320

SBI: Buy | Target Rs 875 | Stop Loss Rs 700

(Disclaimer: Recommendations, suggestions, views, and opinions given by experts are their own. These do not represent the views of the Economic Times)



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