The S&P BSE Sensex and Nifty50 closed marginally lower in the previous trading session. India VIX was down by 3.30% from 10.98 to 10.61 levels on Thursday. Volatility cooled off and paved the way for the bulls to strengthen in the market.
On the weekly options front, the maximum Call OI is placed at 19,800 and then towards 20,000 strikes while the maximum Put OI is placed at 19800 and then towards 19700 strikes.
Minor Call writing is seen at 19800 and then towards 20000 strikes while Put writing is seen at 19800 and then towards 19700 strikes.
“Options data suggests a broader trading range in between 19400 to 20000 zones while an immediate trading range in between 19550 to 19900 zones,” Chandan Taparia, Analyst-Derivatives at Motilal Oswal Financial Services Limited, said.
“Nifty formed a small-bodied Bearish candle on the daily scale on Thursday and has been forming higher highs – higher lows from the last three sessions,” he said.
“Now the Nifty has to hold above 19800 zones, for an up move towards 19950 then 20050 zones whereas supports are placed at 19750 then 19650 zones,” recommended Taparia.We have collated a list of stocks from various experts for traders who have a short-term trading horizon:
Expert: Pritesh Mehta, Lead Technical Analyst at YES Securities told ETBureau
MFSL: Buy| Target Rs 1050| Stop Loss Rs 880
Ramco Cement: Buy| Target Rs 1135| Stop Loss Rs 935
Metropolis Healthcare: Buy| Target Rs 1660| Stop Loss Rs 1430
Expert: Kunal Bothra, Market Expert told ETNow
GAIL India: Buy| Target Rs 135| Stop Loss Rs 124
Mrs Bector Foods: Buy| Target Rs 1250| Stop Loss Rs 1150
Atul: Buy| Target Rs 7250| Stop Loss Rs 6800
Expert: Nooresh Merani, an independent technical analyst told ETNow
GAIL India: Buy| Target Rs 145| Stop Loss Rs 124
IndusInd Bank: Buy| Target Rs 1550| Stop Loss Rs 1390
CRISIL: Buy| Target Rs 4500| Stop Loss Rs 3850
(Disclaimer: Recommendations, suggestions, views, and opinions given by experts are their own. These do not represent the views of the Economic Times)
Download The Economic Times News App to get Daily Market Updates & Live Business News.
Top Trending Stocks: Sensex Today Live, SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price