India VIX was up by 0.79% from 10.81 to 10.90 levels on Monday. Volatility witnessed wild swings during the day and created movement in the market.
On the monthly options front, the maximum Call OI is placed at 19600 and then towards 19500 strikes while the maximum Put OI is placed at 19000 and then towards 19200 strikes.
Meaningful Call writing is seen at 19500 and then towards 19400 strikes while Put Unwinding is seen at 19500 and then towards 19400 strikes.
“Options data suggests a broader trading range in between 19000 to 19550 zones while an immediate trading range in between 19150 to 19450 zones,” Chandan Taparia, Analyst-Derivatives at Motilal Oswal Financial Services Limited, said.
“Nifty formed a strong Bearish candle on the daily frame on Monday and has been making lower highs from the last four sessions,” he said.
“Now till Nifty holds below 19333 zones, weakness could be seen towards 19150 then 19000 zones whereas hurdles are placed at 19442 then 19550 zones,” recommends Taparia.We have collated a list of stocks from various experts for traders who have a short-term trading horizon:
Expert: Jay Thakkar, Head Alternate Research at Sharekhan at BNP Paribas told ETBureau
Tata Chemicals: Sell| Target Rs 940-920| Stop Loss Rs 1010
Persistent Systems: Buy| Target Rs 5900-6000| Stop Loss Rs 5680
Nestle India: Buy| Target Rs 26,000| Stop Loss Rs 23200
Expert: Kunal Bothra, Market Expert told ETNow
Hindustan Unilever: Buy| Target Rs 2570| Stop Loss Rs 2450
ICICI Lombard: Buy| Target Rs 1440| Stop Loss Rs 1380
Voltas: Buy| Target Rs 860| Stop Loss Rs 800
Expert: Nooresh Merani, an independent technical analyst told ETNow
Titan Company: Sell| Target Rs 3000| Stop Loss Rs 3300
Hero MotoCorp: Buy| Target Rs 3400| Stop Loss Rs 3100
Kaveri Seeds: Buy| Target Rs 700| Stop Loss Rs 620
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(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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