On Monday, the Nifty futures closed positively with gains of 0.77%, reaching 25,045 levels. The India VIX increased by 1.33%, rising from 13.50 to 13.73.
In the options market, the maximum Call Open Interest (OI) is at 26,000 strikes, followed by 25,500 strikes, while the maximum Put OI is at 25,000 strikes, followed by 24,000 strikes.
Call writing is observed at 26,100 and 25,500 strikes, while Put writing is seen at 25,000 and 24,900 strikes.
“Options data suggests a broader trading range in between 24,600 to 25,500 zones, while an immediate range between 24,800 to 25,300 levels,” Chandan Taparia, Analyst-Derivatives at Motilal Oswal Financial Services Limited, said.“Nifty formed a bullish candle on a daily frame on Monday with a long lower shadow indicating quick absorption at any minor decline and closed with gains of around 190 points,” he said.“Now the index has to continue to hold above 25,000 zones for an upmove towards 25,150 then 25,250 levels, while support is seen at 24,850 then 24,750 zones,” he recommends.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: Ajit Mishra, SVP – Technical Research, Religare Broking Ltd told ETBureau
Havells India: Buy | Target: Rs 2,030 | Stop Loss: Rs 1,850
HCL Technologies: Buy | Target: Rs 1,790 | Stop Loss: Rs 1,685
Jindal Steel & Power: Buy | Target: Rs 1,040 | Stop Loss: Rs 960
Tata Consumer: Buy | Target: Rs 1,300 | Stop Loss: Rs 1,180
Expert: Nooresh Merani, an independent technical analyst told ETNow
HCL Technologies: Buy | Target: Rs 1,800 | Stop Loss: Rs 1,690
Hindustan Unilever: Buy | Target: Rs 3,000 | Stop Loss: Rs 2,780
M&M Financial Services: Buy | Target: Rs 360 | Stop Loss: Rs 300
Expert: Kunal Bothra, Market Expert told ETNow
Bajaj Finserv: Buy | Target: Rs 1,750 | Stop Loss: Rs 1,650
Hindustan Copper: Buy | Target: Rs 350 | Stop Loss: Rs 318
Poonawala Fincorp: Buy | Target: Rs 434 | Stop Loss: Rs 385
(Disclaimer: Recommendations, suggestions, views, and opinions given by experts are their own. These do not represent the views of The Economic Times)