The Nifty future closed negative with a marginal loss of 0.01% at 22611 levels on Friday. India VIX was up by 1.07% from 11.22 to 11.34 levels. Volatility has risen marginally after the cool-off seen in the last 4 sessions.
On the weekly options front, the maximum Call OI is placed at 23,000 and then towards 22,800 strikes while the maximum Put OI is placed at 22,500 and then towards 22,400 strikes.
Minor Call writing is seen at 22,800 and then towards 23000 strikes while some Put writing is seen at 22400 and then towards 22200 strikes.
“Options data suggests a broader trading range in between 22000 to 23000 zones while an immediate trading range in between 22300 to 22700 zones,” Chandan Taparia, Analyst-Derivatives at Motilal Oswal Financial Services Limited, said.
“Nifty formed a small-bodied Bullish candle on the daily and weekly frame on Friday and gave the highest ever close on weekly frame,” he said.“Now the index has to continue to hold above 22500 zones to witness an up move towards 22650 and 22750 zones while on the downside support exists at 22400 and 22300 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: Sagar Doshi, Technical Analyst, Research, Nuvama Wealth told ETBureau
Bank of India: Buy| Target Rs 158.50| Stop Loss Rs 143
Godrej Properties: Buy| Target Rs 2700| Stop Loss Rs 2425
Supreme Industries: Buy| Target Rs 4655| Stop Loss Rs 4200
Expert: Kunal Bothra, Market Expert told ETNow
Kotak Mahindra Bank: Buy| Target Rs 1880| Stop Loss Rs 1730
ITC: Buy| Target Rs 440| Stop Loss Rs 424
Aditya Birla Fashion: Buy| Target Rs 250| Stop Loss Rs 228
Expert: Nooresh Merani, an independent technical analyst told ETNow
UPL: Buy| Target Rs 530| Stop Loss Rs 480
Kotak Mahindra Bank: Buy| Target Rs 1880| Stop Loss Rs 1750
Delhivery: Buy| Target Rs 550| Stop Loss Rs 440
(Disclaimer: Recommendations, suggestions, views, and opinions given by experts are their own. These do not represent the views of the Economic Times)