The Nifty futures closed with a loss of 0.67%, at 25,005 on Monday.
On the options front, the maximum Call OI is placed at the 27,000 and 26,000 strikes, while the maximum Put OI is at the 24,000 and 24,500 strikes.
Call writing is seen at the 25,000 and 24,900 strikes, while Put writing is observed at the 24,700 and 24,100 strikes.
“Options data suggests a broader trading range between 24,400 and 25,400 zones, with an immediate range between 24,500 and 25,200 levels,” said Chandan Taparia, Analyst-Derivatives at Motilal Oswal Financial Services Limited.
“Nifty formed a bearish candle on the daily chart on Monday and has been making lower highs and lower lows for the past five sessions,” he added.“Until Nifty holds below 24,950, weakness could extend towards 24,650, then 24,500 zones, while hurdles are placed at 24,950, then 25,150 zones,” Taparia recommended.
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: Ajit Mishra, SVP – Technical Research, Religare Broking Ltd told ETBureau
Infosys: Buy | Target: Rs 2,050 | Stop Loss: Rs 1,875
Divi’s Laboratories: Buy | Target: Rs 5,750 | Stop Loss: Rs 5,200
Coal India: Sell | Target: Rs 445 | Stop Loss: Rs 500
Tata Motors: Sell | Target: Rs 870 | Stop Loss: Rs 965
Expert: Kunal Bothra, Market Expert told ETNow
Bharti Airtel: Buy | Target: Rs 1,688 | Stop Loss: Rs 1,638
ITC: Buy | Target: Rs 530 | Stop Loss: Rs 505
Balkrishna Industries: Sell | Target: Rs 2,720 | Stop Loss: Rs 2,860
(Disclaimer: Recommendations, suggestions, views, and opinions given by experts are their own. These do not represent the views of The Economic Times)