Cipla to Bajaj Finserv - Jay Thakkar suggests three stocks to buy or sell for short-term in F&O segment
Jay Thakkar of Sharekhan recommends Cipla, Bajaj Finserv, and Trent as short-term F&O trades with detailed technical analysis. See price targets, stop-loss, and expert outlook.

In a market where volatility is the norm, Jay Thakkar, Senior Vice President and Head of Alternate Research at Sharekhan by BNP Paribas, has recommended three strategic positions in the Futures and Options (F&O) segment for traders seeking short-term gains. His picks—Cipla, Bajaj Finserv, and Trent—include both long and short calls, offering a balanced outlook amid uncertain sentiment ahead of key macroeconomic triggers.
Market Context: Cautious Optimism Ahead of Fed Meeting, F&O Expiry
Indian markets have entered a phase of consolidation after a record-breaking rally earlier in July. The Nifty 50 is hovering around the 24,300–24,500 levels while the Bank Nifty faces resistance at 53,000. Global investors are watching the upcoming U.S. Federal Reserve meeting for guidance on interest rate policy. Meanwhile, July’s F&O expiry this week adds an extra layer of short-term volatility.
“Traders should tread carefully now. We are in a profit-booking phase and a sectoral rotation is also underway,” said Thakkar in a CNBC-TV18 interview. “In such a scenario, stock-specific action in the F&O segment can provide meaningful opportunities.”
1. Cipla: A Shorting Opportunity on Bearish Momentum
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Recommendation: Sell
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Target: ₹1,380
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Stop Loss: ₹1,450
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CMP (as of July 26, 2025): ₹1,415
Cipla has shown signs of weakness on technical charts after a failed breakout attempt. The stock has been forming lower highs and lower lows on the daily timeframe.
“Cipla has broken key support levels with strong volume. There’s clear bearish divergence on the RSI as well,” Thakkar noted. “This presents a tactical shorting opportunity for derivatives traders aiming for a quick 2-3% downside.”
Healthcare stocks have come under pressure due to underwhelming Q1 earnings across several companies and increased cost pressure on API inputs. Cipla, in particular, is expected to face margin headwinds in the near term.
2. Bajaj Finserv: Bullish Setup Suggests Upside Breakout
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Recommendation: Buy
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Target: ₹1,740
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Stop Loss: ₹1,630
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CMP (as of July 26, 2025): ₹1,680
Among financial services stocks, Bajaj Finserv has been forming a strong base around the ₹1,620–1,640 zone. On the weekly charts, the stock has completed a consolidation phase and is now showing signs of a bullish breakout with a pick-up in volumes.
“The breakout above ₹1,670 is significant. With strong support from the broader financial sector rally, Bajaj Finserv could quickly move to ₹1,740 levels,” Thakkar said.
The NBFC space has seen renewed buying interest on expectations of robust loan growth and stable asset quality in Q2 FY26. With macro indicators showing resilience, financials remain a preferred sector for traders and investors alike.
3. Trent: Momentum Play With Room for More Gains
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Recommendation: Buy
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Target: ₹5,380
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Stop Loss: ₹5,050
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CMP (as of July 26, 2025): ₹5,180
Retail-focused stock Trent has been one of the top performers this year, gaining over 45% year-to-date. The recent breakout above ₹5,000 was accompanied by a sharp uptick in open interest, indicating aggressive long build-up in the F&O segment.
“Trent continues to ride the momentum wave. It has entered a new bullish zone with no immediate resistance in sight,” Thakkar observed. “For short-term traders, it remains a top buy in the retail segment.”
Driven by strong quarterly results and consistent same-store sales growth, Trent is a structural play in India’s consumption theme. Technical indicators like ADX and MACD also confirm the strength of the ongoing uptrend.
Analyst View: Balanced Strategy to Navigate Volatility
Jay Thakkar’s mixed bag of long and short recommendations reflects the current crosscurrents in Indian equities. With index levels near all-time highs and valuation comfort reducing in some segments, stock-specific calls are gaining prominence in short-term trading.
“You don’t need to chase the index right now. It's better to pick names where either technical weakness or strength is clearly visible,” said Thakkar. “F&O strategies with strict stop-loss discipline can help traders minimize risk.”
Investor Outlook: Monitor Q1 Earnings, Global Cues, and F&O Expiry
Investors should keep a close watch on Q1 corporate earnings, especially in sectors like pharma, financials, and retail, which are directly tied to Thakkar’s recommendations. Global developments, particularly from the Federal Reserve and crude oil markets, could also influence market sentiment.
With the July F&O expiry just days away, positions in high beta stocks like Cipla, Bajaj Finserv, and Trent may witness sharp moves. Traders are advised to maintain a tight risk-reward ratio and avoid overnight leverage.
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