The Nifty future closed negative with marginal losses of 0.08% at 23,001 levels on Monday. India VIX was down by 6.82% from 21.71 to 23.19 levels.
On the options front, the maximum Call OI is placed at 23500 and then towards 23000 strikes while the maximum Put OI is placed at 23000 and then towards 22700 strikes.
Call writing is seen at 23200 and then towards 23100 strikes while minor Put writing is seen at 23000 and then towards 22850 strikes.
“Options data suggests a broader trading range in between 22500 to 23500 zones while an immediate range in between 22800 to 23200 levels,” Chandan Taparia, Analyst-Derivatives at Motilal Oswal Financial Services Limited, said.“Nifty formed a small-bodied Bearish candle on a daily scale and has been making higher highs from the last eleven trading sessions,” he said.“Now the index has to hold above 22900 zones for an up move towards 23200 then 23350 zones whereas supports can be seen at 22850 then 22700 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: Dharmesh Shah, Head – Technical, ICICI Securities told ETBureau
RIL: Buy| Target Rs 3070| Stop Loss Rs 2844
SBI: Buy| Target Rs 890| Stop Loss Rs 799
NTPC: Buy| Target Rs 392| Stop Loss Rs 357
Expert: Kunal Bothra, Market Expert told ETNow
IndusInd Bank: Buy| Target Rs 1550| Stop Loss Rs 1440
PNB: Buy| Target Rs 140| Stop Loss Rs 125
Jubilant FoodWorks: Buy| Target Rs 520| Stop Loss Rs 474
(Disclaimer: Recommendations, suggestions, views, and opinions given by experts are their own. These do not represent the views of the Economic Times)