Sectorally, buying was seen in infra, telecom, public sector and power space.
On the weekly options front, the maximum Call OI is placed at 22,000 strikes and then towards 21,800 strikes while the maximum Put OI is placed at 21,000 strikes and then towards 21,400 strikes.
Call writing is seen at 21,500 and then towards 21,600 strikes while minor put writing is seen at 21,400 and then towards 21,300 strikes.
“Options data suggests a broader trading range in between 21,200 to 22,000 zones while an immediate trading range in between 21,300 to 21,700 zones,” Chandan Taparia, Senior Vice President | Analyst-Derivatives at Motilal Oswal Financial Services Limited, said.
“Nifty formed a small-bodied Bullish candle on the daily scale on Thursday with longer shadows on either side and closed with losses of around 110 points,” he said.
“Now till Nifty holds below 21,550 zones, weakness could be seen towards 21,300 and 21,250 zones while on the upside hurdle shifts lower at 21,550 and 21,650 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: Kunal Bothra, Market Expert told ETNow
CESC: Buy| Target Rs 166| Stop Loss Rs 132
Bank of Baroda: Buy| Target Rs 238| Stop Loss Rs 222
Som Distilleries: Buy| Target Rs 330| Stop Loss Rs 290
Expert: Nooresh Merani, an independent technical analyst told ETNow
Tata Communications: Buy| Target Rs 1900| Sop Loss Rs 1720
Petronet LNG: Buy| Target Rs 260| Stop Loss Rs 232
IRB Infrastructure: Buy| Target Rs 55| Stop Loss Rs 44
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(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)