The S&P BSE Sensex rose more than 350 points while the Nifty50 closed above 19500 on the Muhurat Trading day.
India VIX was up by 1.16% from 10.98 to 11.10 levels on Friday. Volatility was slightly up but created momentum in the indices.
On the weekly options front, the maximum Call OI is placed at 19500 and then towards 19400 strikes while the maximum Put OI is placed at 19400 and then towards 19300 strikes.
Call writing is seen at 19400 and then towards 19600 strikes while Put writing is seen at 19300 and then towards 19350 strikes.
“Options data suggests a broader trading range in between 19000 to 19700 zones while an immediate trading range in between 19300 to 19550 zones,” Chandan Taparia, Analyst-Derivatives at Motilal Oswal Financial Services Limited, said.
“Nifty formed a small-bodied Bullish candle on the weekly frame and negated its lower highs of the last two weeks. Overall set up is stabilizing with support-based buying but lack of momentum is making the upside capped,” he said.“Now the index has to hold above 19400 zones, for an up move towards 19550 then 19600 zones whereas supports are gradually shifting higher and are placed at 19333 then 19250 zones,” recommends Taparia.
We have collated a list of stocks from various experts for traders who have a short-term trading horizon:
Expert: Chandan Taparia, Analyst-Derivatives at Motilal Oswal Financial Services Limited told ETBureau
NMDC: Buy| Target Rs 174| Stop Loss Rs 165
PFC: Buy| Target Rs 300| Stop Loss Rs 280
NTPC: Buy| Target Rs 255| Stop Loss Rs 236
CDSL: Buy| Target Rs 1860| Stop Loss Rs 1735
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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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