Adani Energy to Varun Beverages: Jay Thakkar Picks 3 F&O Stocks for Short-Term Gains

The Indian equity markets ended the week on a negative note, pressured by weak corporate earnings and global tariff uncertainties. Amid this cautious sentiment, market expert Jay Thakkar has identified three stocks—Adani Energy Solutions, Colgate Palmolive, and Varun Beverages—as short-term trading opportunities in the Futures & Options (F&O) segment, anticipating near-term upside.

Tariff Threats and Earnings Disappoint

Indian stock indices witnessed a broad selloff on Friday, July 11, amid concerns over potential tariff hikes by the US government and subdued early earnings from large-cap companies. The Sensex ended 689.81 points lower at 82,500.47, while the Nifty 50 closed down by 205.40 points at 25,149.85, reflecting broader market unease.

One key concern was the possible imposition of a 35% US tariff on goods imported from Canada, which added to global trade tensions already weighing on investor sentiment. Additionally, muted results from frontline IT companies intensified risk aversion across sectors.

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Nifty 50 Technical View: A Breakout May Be Imminent

Jay Thakkar notes that Nifty 50 continues to consolidate in a narrow band between 25,300 and 25,700. Despite this, the Implied Volatility (IV) has dropped below 11, suggesting subdued short-term movement—an indicator that often precedes a breakout. The Put-Call Ratio (PCR) remains under 1 at 0.85, but breadth has not deteriorated significantly.

Crucially, options data indicates the 25,500 strike has the highest open interest (OI) on both calls and puts, making it a pivotal level. Sustained trading above this zone could lead to a rally toward 25,700–25,800, and possibly 26,000. On the downside, a close below 25,300 would negate this bullish setup.

Stock #1: Adani Energy Solutions – Long Build-Up Hints at Upside

• Entry Zone (Futures): ₹905–₹895

• Stop Loss: ₹875

• Target Range: ₹945–₹965

Adani Energy Solutions has shown strong derivative activity since entering the F&O segment, with long positions being consistently built. The ₹900 strike call option holds the highest OI, pointing to a resistance-turned-support level.

Put writing at lower strikes and the stock’s current position above its max pain levels further strengthen the bullish case. Thakkar believes the stock is poised for a breakout following a consolidation phase and recommends buying in the ₹905–₹895 range.

Stock #2: Colgate Palmolive – Short Covering Underway

• Entry Zone (Futures): ₹2,465–₹2,435

• Stop Loss: ₹2,380

• Target Range: ₹2,600–₹2,700

Colgate Palmolive is forming a solid base at lower levels, and data indicates short positions are being covered after significant build-up during the recent fall. Strong put writing at the ₹2,400 level suggests good downside protection.

The ₹2,500 call has the highest OI, making it a resistance to watch. A close above ₹2,500 could open the door to higher levels. With the risk-reward skewed in favor of buyers, Thakkar recommends long positions in the current zone.

Stock #3: Varun Beverages (VBL) – Reversal Pattern with Short Covering Potential

• Entry Zone (Futures): ₹470–₹465

• Stop Loss: ₹455

• Target Range: ₹485–₹500

VBL has begun to reverse from its recent lows, with price action breaching previous swing highs. While Open Interest hasn’t changed significantly, Thakkar notes that massive short build-up since its F&O debut could now lead to short covering, supporting near-term gains.

The reversal is seen as technically sound, with no fresh short additions, making it an ideal candidate for a short-term long trade.

Jay Thakkar’s F&O Short-Term Picks

Thakkar’s picks focus on stocks showing early signs of trend reversal, strong support from options data, and long or short covering in the derivatives segment, offering opportunities for traders in a volatile market environment.

Check This

• Adani Energy Solutions Stock Price
• Colgate Palmolive Stock Price
• Varun Beverages Stock Price