Five stocks with high interest on F&O traders’ radar for July | Economic Times

Telecom, IT, pharma and hospital stocks are in the limelight in July derivatives series so far. With gains in the Nifty expected to remain capped in the near future, the focus is once again on companies that are still growing. Technology shares rose on Friday after better-than-expected earnings from Accenture. ET takes a look at five stocks which are gaining momentum in the July series and details their near-term outlook.Vodafone IdeaCMP: Rs 10.4Spot Price Change in : 5.6%OI Change in : 110.95%The stock is rising due to momentum in other telecom stocks, said Chandan Taparia, derivative analyst at Motilal Oswal Financial Services. Reports of Google eyeing stake in the company and hope of relief on AGR dues have helped the stock gain 218% since March. The stock gained nearly 6% on Friday amid higher than average volumes.MindtreeCMP: Rs 949.10Spot Price Change in : 3.5%OI Change in : 31.2%The company’s shares have risen along with gains in the IT sector on Friday after better-than-expected earnings numbers from Accenture. The stock has support near Rs 910 and can rise to Rs 1,000-Rs 1,020 in the July series, said Taparia.United BreweriesCMP: Rs 1,017.95Spot Price Change in : -3%OI Change in : 16.8%The stock has seen build-up of bearish positions after the company on Wednesday reported a 39.35% decline in March quarter profit, mainly due to Covid-19 disruptions. IDFC Securities said in a note that any correction in the stock should be used to add positions. The brokerage said the near-term trajectory will remain under pressure but the brokerage believes that United Breweries is best placed to navigate and come out stronger due to better portfolio strength and healthy balance sheet among other factors.Apollo HospitalsCMP: Rs 1,388.15Spot Price Change in : -3.4%OI Change in : 15.4%Traders have built short positions in the stocks due to uncertainties over occupancy and threat of price caps. CLSA has downgraded the stock to ‘outperform’ from ‘buy’ and cut target price to Rs 1,570 from Rs 1,800. Apollo reported a profit of Rs 209.6 crore for the March quarter mainly one account of one-off gains. Operations may normalise only in 2021; the threat of more price caps by state governments keeps us concerned about the earnings outlook as this would be a risk to margins,” said CLSA.HCL TechnologiesCMP: Rs 562.4Spot Price Change in : 2.25%OI Change in : 8.3%HCL Technologies’ have also gained on the back of optimism in the sector after Accenture’s result. The stock has taken support near its 50-day moving average in the last four to five sessions. “Now the stock has support near Rs 545 level and can move to Rs 600 in the near term,” said Taparia.