India VIX was down by 0.84% from 11.27 to 11.18 levels on Thursday. Volatility spiked towards 12 and sank gradually during the day.
On the weekly options front, the maximum Call OI is placed at 19,500 and then towards 19,700 strikes while the maximum Put OI is placed at 19,400 and then towards 195,00 strikes.
Call writing is seen at 19,500 and then towards 19,600 strikes while minor Put writing was seen at 19,400 and then towards 19,300 strikes.
“Options data suggests a broader trading range in between 19,000 to 20,000 zones while an immediate trading range in between 19,200 to 19,600 zones,” Chandan Taparia, Analyst-Derivatives at Motilal Oswal Financial Services Limited, said.
“Nifty formed a Bearish candle on the daily frame on Thursday with a longer lower shadow. Now till the index holds below 19,420 zones weakness could be seen towards 19,200 and 19,100 zones while hurdles are placed at 19,560 and 19,650 zones,” he said.
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 – Institutional Equities at YES Securities told ETBureau
Bajaj Finance Future: Sell| Target Rs 6654| Stop Loss Rs 7410
HPCL Futures: Sell| Target Rs 253| Stop Loss Rs 283
Voltas: Buy| Target Rs 837| Stop Loss Rs 777
Expert: Kunal Bothra, Market Expert told ETNow
Bajaj Finserv: Buy| Target Rs 1540| Stop Loss Rs 1460
Voltas: Buy| Target Rs 830| Stop Loss Rs 785
Mphasis: Buy| Target Rs 2290| Stop Loss Rs 2200
Expert: Nooresh Merani, an independent technical analyst told ETNow
ONGC: Buy| Target Rs 190| Stop Loss Rs 165
Kotak Mahindra Bank: Buy| Target Rs 1950| Stop Loss Rs 1780
Wockhardt: Buy| Target Rs 300| Stop Loss Rs 244
(Disclaimer: Recommendations, suggestions, views, and opinions given by experts are their own. These do not represent the views of the Economic Times)