India VIX was down by 1.15% from 11.78 to 11.65 levels on Wednesday. Volatility has been hovering in a choppy manner with the absence of strength to the bulls.
On the weekly options front, the maximum Call OI is placed at 19600 and then towards 19700 strikes while the maximum Put OI is placed at 19400 and then towards 19300 strikes.
Call writing is seen at 19450 and then towards 19400 strikes while Put writing is seen at 19350 and then towards 19300 strikes.
“Options data suggests a broader trading range in between 19200 to 19800 zones while an immediate trading range in between 19300 to 19600 zones,” Chandan Taparia, Analyst-Derivatives at Motilal Oswal Financial Services Limited, said.
“Nifty formed a Dragonfly Doji on the daily scale on Wednesday, but it has been forming lower highs from the last three sessions,” he said.
“Now till it holds below 19500 zones, weakness could be seen towards 19333 then 19220 zones whereas hurdles are placed at 19550 then 19650 zones,” recommends Taparia.We have collated a list of stocks from various experts for traders who have a short-term trading horizon:
Expert: Jayesh Bhanushali, Senior Derivative & Technical Research Analyst, IIFL told ETBureau
D-Mart: Buy| Target Rs 3990| Stop Loss Rs 3750
MRPL: Buy| Target Rs 104| Stop Loss Rs 94
Infosys: Buy| Target Rs 1488| Stop Loss Rs 1402
Expert: Nooresh Merani, an independent technical analyst told ETNow
InterGlobe Aviation: Buy| Target Rs 2550| Stop Loss Rs 2360
Axis Bank: Buy| Target Rs 1100| Stop Loss Rs 980
Bandhan Bank: Buy| Target Rs 275| Stop Loss Rs 245
Expert: Kunal Bothra, Market Expert told ETNow
D-Mart: Buy| Target Rs 3965| Stop Loss Rs 3820
HCL Technologies: Buy| Target Rs 1266| Stop Loss Rs 1215
Balrampur Chini Mills: Buy| Target Rs 455| Stop Loss Rs 417
(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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