The S&P BSE Sensex and Nifty50 closed flat but with a negative bias on Tuesday. India VIX was up by 0.83% from 11.10 to 11.19 levels. Volatility was slightly on the rise but created momentum in the index.
On the weekly options front, the maximum Call OI is placed at 19500 and then towards 19600 strikes while the maximum Put OI is placed at 19300 and then towards 19200 strikes.
Call writing is seen at 19450 and then towards 19550 strikes while Put writing is seen at 19250 and then towards 19400 strikes.
“Options data suggests a broader trading range in between 18900 to 19700 zones while an immediate trading range in between 19250 to 19550 zones,” Chandan Taparia, Analyst-Derivatives at Motilal Oswal Financial Services Limited, said.
“Nifty formed a Dragonfly Doji on the daily frame on Tuesday and has been forming higher lows from the last four sessions,” he said.
“Now Nifty has to hold above 19350 zones, for an up move towards 19550 then 19600 zones whereas supports are gradually shifting higher and are placed at 19333 then 19250 zones,” recommended Taparia.We have collated a list of stocks from various experts for traders who have a short-term trading horizon:
Expert: Jay Thakkar, Head Alternate Research, Sharekhan by BNP Paribas told ETBureau
IndusInd Bank: Buy| Target Rs 1600| Stop Loss Rs 1390
Cochin Shipyard: Buy| Target Rs 1138| Stop Loss Rs 990
SJVN: Buy| Target Rs 84| Stop Loss Rs 65
Expert: Kunal Bothra, Market Expert told ETNow
Radico Khaitan: Buy| Target Rs 1400| Stop Loss Rs 1330
ICICI Bank: Buy| Target Rs 988| Stop Loss Rs 934
Poonawala Fincorp: Buy| Target Rs 388| Stop Loss Rs 351
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(Disclaimer: Recommendations, suggestions, views, and opinions given by experts are their own. These do not represent the views of the Economic Times)
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