Indus Towers to AU Small Finance Bank: Jay Thakkar Suggests 3 Stocks for Short-Term F&O Trading

Jay Thakkar Recommends 3 Stocks for Short-Term F&O Trading

The Indian stock market opened largely flat with a positive bias on Wednesday, August 26, 2026, as easing crude oil prices and improved global sentiment supported investor confidence.

Amid the current market setup, Jay Thakkar, Vice President and Head of Derivatives and Quant Research at ICICI Securities, shared his outlook on the Nifty 50 and identified three stocks for short-term trading in the F&O segment.

The three recommended stocks are

• Indus Towers Futures
• AU Small Finance Bank Futures
• Fortis Healthcare Futures

According to the market outlook, the Nifty 50 remains in an important consolidation phase, with the 24,000 level emerging as a key support zone.

Nifty 50 Outlook

The Nifty 50 has remained within a relatively narrow range over the past several monthly settlement periods.

According to Jay Thakkar's analysis, the index has also witnessed a contraction in implied volatility over recent trading sessions.

Such periods of extended consolidation and lower volatility can sometimes be followed by a stronger directional move.

The key level to watch is 24,000.

The 24,000 strike had a significant put base during the previous derivatives series and continues to remain an important support area for the market.

As long as Nifty futures hold above this level, the broader market setup could remain positive.

Jay Thakkar expects that continued FII buying in the equity cash market and possible short covering in the index and heavyweight stocks could support an upside breakout.

The potential upside zone highlighted in the outlook is

• 24,800
• 25,000

However, market participants will continue to closely watch the 24,000 level, as a sustained move below this zone could change the short-term technical setup.

Indus Towers Futures: Buy Recommendation

Jay Thakkar recommends buying Indus Towers Futures in the range of ₹385 to ₹388 for short-term trading.

Recommended Trade Levels

• Buy range: ₹385–₹388
• Stop loss: Below ₹375
• Target 1: ₹400
• Target 2: ₹410

Indus Towers appears to have formed a short-term base.

According to the derivatives analysis, the stock showed resilience despite an increase in open interest. This suggested that even though fresh positions were being added, the price did not witness significant downside pressure.

The stock also broke out of its recent trading range, which could potentially support further upside if short covering continues.

Key Support and Resistance for Indus Towers

The options data highlighted the following important levels

• Put base: Around ₹380
• Call base: Around ₹400
• Important short-term support: ₹380
• Key resistance zone: ₹400

The stock was trading closer to the lower end of the ₹380–₹400 range, which, according to the analysis, provided a favourable risk-to-reward setup on the long side.

Indus Towers had also closed above its max pain level of ₹380, which could act as an additional short-term support.

AU Small Finance Bank Futures: Buy Recommendation

Jay Thakkar recommends buying AU Small Finance Bank Futures in the range of ₹1,120 to ₹1,135.

Recommended Trade Levels

• Buy range: ₹1,120–₹1,135
• Stop loss: Below ₹1,095
• Target 1: ₹1,165
• Target 2: ₹1,185

AU Small Finance Bank has been forming a pattern of higher highs and higher lows.

The increase in open interest along with the positive price structure indicated potential long buildup in the stock.

The stock had also broken out of a sideways consolidation range, suggesting the possibility of a fresh upward move.

Key Support for AU Small Finance Bank

According to the options data, significant put additions were seen around the ₹1,100 strike.

This makes ₹1,100 an important short-term support level.

The stock was also trading well above its max pain level of ₹1,100, further strengthening the support zone identified in the derivatives analysis.

As long as the stock holds above the key support levels, the short-term setup could remain positive.

Fortis Healthcare Futures: Buy Recommendation

The third stock recommended by Jay Thakkar for short-term F&O trading is Fortis Healthcare Futures.

The recommended buy range is ₹920 to ₹930.

Recommended Trade Levels

• Buy range: ₹920–₹930
• Stop loss: Below ₹900
• Target 1: ₹965
• Target 2: ₹985

Fortis Healthcare has been consolidating over the past few trading sessions after recovering from recent lows.

During its previous decline, the stock witnessed short-term position additions. However, the stock subsequently reversed from lower levels and entered a consolidation phase.

According to the analysis, a breakout from this consolidation range could potentially trigger further short covering and support an upward move.

Key Support for Fortis Healthcare

The options data showed a significant put base at the ₹900 strike.

This makes ₹900 an important support level for the short-term setup.

As long as the stock remains above this zone, the overall bias could remain positive.

Fortis Healthcare had also closed above its max pain level of around ₹910, which could provide additional support.

Jay Thakkar's 3 Short-Term F&O Picks

The key trading levels highlighted in the recommendations are

• Indus Towers Futures: Buy at ₹385–₹388 | Stop loss below ₹375 | Targets ₹400 and ₹410
• AU Small Finance Bank Futures: Buy at ₹1,120–₹1,135 | Stop loss below ₹1,095 | Targets ₹1,165 and ₹1,185
• Fortis Healthcare Futures: Buy at ₹920–₹930 | Stop loss below ₹900 | Targets ₹965 and ₹985

These recommendations are based on the technical structure, open interest trends, options positioning and short-term derivatives setup discussed by the analyst.

Overall Market Takeaways

The Nifty 50 remains at an important stage after a prolonged period of consolidation.

The 24,000 level remains the key support to watch in the short term.

A sustained move above the current consolidation range could potentially lead to a stronger upside move, with the 24,800–25,000 zone highlighted as a potential upside area in the market outlook.

For individual stocks, Jay Thakkar has identified Indus Towers, AU Small Finance Bank and Fortis Healthcare as short-term F&O trading opportunities.

The recommended levels include clearly defined entry ranges, stop losses and upside targets, which traders may monitor alongside broader market conditions and changing price action.

Disclaimer

This article is published solely for educational and informational purposes.

TrendRipperX is not registered with the Securities and Exchange Board of India (SEBI) as an Investment Adviser or Research Analyst.

The information and figures mentioned in this article are based on publicly available information and analyst views available at the time of publication.

Nothing in this article should be interpreted as a personalised investment recommendation or trading instruction from TrendRipperX.

Futures and options trading involves significant risk and can result in substantial financial losses. Entry prices, targets and stop losses can change based on market conditions. Readers should conduct their own independent research and consult a SEBI-registered financial professional before making any investment or trading decision.