The Nifty future closed positive with gains of 0.16% at 21848 levels on Friday. Positive setup was seen in socks like Grasim, IDEA, ACC, Bank Baroda, SBI, OFSS, Apollo Hospital, Ambuja Cements, Bharat Forge, Sun Pharma, Hero MotoCorp etc. among others.
On the options front, the maximum Call OI is placed at 22000 and then towards 22500 strikes while the maximum Put OI is placed at 21500 and then towards 21700 strikes.
Call writing is seen at 22700 and then towards 22650 strikes while some Put writing is seen at 21500 and then towards 21700 strikes.
“Options data suggests a broader trading range in between 21300 to 22200 zones while an immediate trading range in between 21500 to 22000 zones,” Chandan Taparia, Analyst-Derivatives at Motilal Oswal Financial Services Limited, said.
“Nifty formed a small-bodied Bullish candle on the daily scale on Friday with longer lower shadow indicating buying visible at lower zones but overall momentum is missing,” he said.“Now the index has to hold above 21750 zones for an up move towards 21950 and 22100 zones while on the downside supports are placed at 21650 and 21550 zones,” recommended Taparia.We have collated a list of stocks from the F&O basket along with cash market from various experts for traders who have a short-term trading horizon:
Expert: Parag Shah, Technical Analyst – Research, Nuvama Professional Client Group Research told ETBureau
ACC: Buy| Target Rs 2810| Stop Loss Rs 2535
Jindal SAW: Buy| Target Rs 570| Stop Loss Rs 514.50
Expert: Kunal Bothra, Market Expert told ETNow
SBI: Buy| Target Rs 755| Stop Loss Rs 706
Bank of Baroda: Buy| Target Rs 278| Stop Loss Rs 259
Indiabulls Real Estate: Buy| Target Rs 140| Stop Loss Rs 119
Expert: Nooresh Merani, an independent technical analyst told ETNow
Maruti Suzuki India: Buy| Target Rs 12000| Stop Loss Rs 10400
Apollo Hospitals: Buy| Target Rs 6800| Stop Loss Rs 6300\
Tata Communications: Buy| Target Rs 2000| Stop Loss Rs 1700
(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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