The Nifty future closed negative with losses of 0.31% at 21741 levels on Thursday. India VIX was down by 9.91% from 16.05 to 14.46 levels. Volatility spiked above 16 zones during the session but cooled off and supported the bulls at higher zones.
Positive setup was seen in stocks like Godrej CP, Maruti Suzuki, Canara Bank, PNB, Container Corp., Indigo, Bank Baroda, Dabur, Power Grid, NMDC, Can Fin Homes, IOC, IGL and MCX.
On the options front, the maximum Call OI is placed at 22000 and then towards 21800 strikes while the maximum Put OI is placed at 21700 and then towards 21500 strikes.
Call writing is seen at 22000 and then towards 21800 strikes while some Put writing is seen at 21700 and then towards 21600 strikes.
“Options data suggests a broader trading range in between 21300 to 22200 zones while an immediate trading range in between 21500 to 21850 zones,” Chandan Taparia, Senior Vice President, Analyst-Derivatives at Motilal Oswal Financial Services Limited, said.“Nifty formed a small-bodied Bearish candle on a daily scale and closed flattish. Now it has to hold above 21650 zones for a bounce towards 21850 and 22000 zones while on the downside supports are placed at 21550 and 21450 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
Maruti Suzuki India: Buy| Target Rs 11400| Stop Loss Rs 10300
Can Fin Homes: Buy| Target Rs 850| Stop Loss Rs 755
Bector Foods: Buy| Target Rs 1300| Stop Loss Rs 1155
Expert: Nooresh Merani, an independent technical analyst told ETNow
Info Edge: Buy| Target Rs 5500| Stop Loss Rs 4900
Maruti Suzuki India: Buy| Target Rs 11500| Stop Loss Rs 10200
Container Corp: Buy| Target Rs 1000| Stop Loss Rs 910
(Disclaimer: Recommendations, suggestions, views, and opinions given by the experts are their own. These do not represent the views of the Economic Times)
(You can now subscribe to our ETMarkets WhatsApp channel)
Download The Economic Times News App to get Daily Market Updates & Live Business News.
Subscribe to The Economic Times Prime and read the Economic Times ePaper Online.and Sensex Today.
Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price