The Nifty future closed positive with gains of 0.95% at 21959 levels on Friday. India VIX was up by 1.66% from 14.46 to 14.70 levels. Volatility remained cool after spiking during the week and created swings.
Positive setup was seen in stocks like BPCL, IOC, Abbot India, GMR Infra, SAIL, MCX, HPCL, NMDC, Power Grid, Coforge, PNB, ONGC, Tata Steel, NTPC, TCS, Coal India, Exide Ind, Tata Consumer, Infosys, Indigo, Canara Bank, TVS Motor, RIL and Cummins India.
On the options front, the maximum Call OI is placed at 22200 and then towards 22000 strikes while the maximum Put OI is placed at 21500 and then towards 21600 strikes.
Call writing is seen at 22200 and then towards 22100 strikes while some Put writing is seen at 21900 and then towards 21800 strikes.
“Options data suggests a broader trading range in between 21300 to 22200 zones while an immediate trading range in between 21500 to 22000 zones,” Chandan Taparia, Analyst-Derivatives at Motilal Oswal Financial Services Limited, said.“Nifty formed a small-bodied Bullish candle on the daily and weekly scale on Friday with longer upper shadow,” he said.“Now the index has to hold above 21850 zones for an up move towards 21950 and 22000 zones while on the downside supports are placed at 21750 and 21650 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: Shrikant Chouhan, Head of Equity Research (Retail) at Kotak Securities told ETBureau
Aditya Birla Fashion: Buy| Target Rs 261| Stop Loss Rs 241
TVS Motor: Buy| Target Rs 2135| Stop Loss Rs 2000
Cummins India: Buy| Target Rs 2420| Stop Loss Rs 2250
Expert: Nooresh Merani, an independent technical analyst told ETNow
InfoEdge: Buy| Target Rs 5600| Stop Loss Rs 5000
Maruti Suzuki India: Buy| Target Rs 11500| Stop Loss Rs 10200
Oriental Hotels: Buy| Target Rs 150| Stop Loss Rs 125
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)
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