On the weekly options front, the maximum Call OI is placed at 19800 and then towards 20000 strikes while the maximum Put OI is placed at 19700 and then towards 19600 strikes.
Minor Call writing is seen at 19800 and then towards 20000 strikes while Put writing is seen at 19700 and then towards 19600 strikes.
“Options data suggests a broader trading range in between 19500 to 20000 zones while an immediate trading range in between 19600 to 19900 zones,” Chandan Taparia, Analyst-Derivatives at Motilal Oswal Financial Services Limited, said.
“Nifty formed a small-bodied bearish candle and an Inside bar on the daily frame which indicates the absence of follow-up activities in the market,” he said.
“Now the index has to continue to hold above 19700 zones, for an up move towards 19850 and then towards 19950 zones, whereas supports are placed at 19650 and then towards 19550 zones,” recommended Taparia.
We have collated a list of stocks from various experts for traders who have a short-term trading horizon:
Expert: Ajit Mishra, SVP – Technical Research, Religare Broking Ltd told ETBureau
Bajaj Finserv: Buy| Target Rs 1790| Stop Loss Rs 1580
IGL: Buy| Target Rs 500| Stop Loss Rs 470
ITC: Buy| Target Rs 464| Stop Loss Rs 440
Havells India: Buy| Target Rs 1540| Stop Loss Rs 1345
Expert: Kunal Bothra, Market Expert told ETNow
Havells India: Buy| Target Rs 1500| Stop Loss Rs 1350
ICICI Prudential: Buy| Target Rs 560| Stop Loss Rs 515
NMDC: Buy| Target Rs 175| Stop Loss Rs 160
Expert: Nooresh Merani, an independent technical analyst told ETNow
Hero MotoCorp: Buy| Target Rs 3300| Stop Loss Rs 3100
IGL: Buy| Target Rs 520| Stop Loss Rs 470
Ipca Laboratories: Buy| Target Rs 1050| Stop Loss Rs 950
(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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