The Nifty future closed positive with gains of 0.87% at 24,775 levels on Thursday.
On the options front, the maximum Call OI is placed at 25,500 and then towards 25,000 strikes while the maximum Put OI is placed at 24,500 and then towards 24,000 strikes.
Call writing is seen at 24,800 and then towards 24,850 strikes while Put writing is seen at 24,500 and then towards 24,700 strikes.
“Options data suggests a broader trading range in between 24,000 to 25,200 zones while an immediate range between 24,300 to 25,000 levels,” Chandan Taparia, Head, Equity Derivatives & Technicals, Wealth Management, MOFSL, said
“Nifty formed a bullish candle and an outside bar on Thursday and closed with gains of around 240 points,” he said.“Now the index has to hold above 24,650 zones for an up move towards 24,850 then 25,000 zones whereas supports can be seen at 24,650 and 24,500 zones,” recommended Taparia.
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: Amol Athawale, VP – Technical Research at Kotak Securities
LTI MindTree: Buy| Target Rs 6540| Stop Loss Rs 6250
AU Small Finance Bank: Buy| Target Rs 620| Stop Loss Rs 585
Bharat Forge: Buy| Target Rs 1420| Stop Loss Rs 1355
IRCTC: Buy| Target Rs 865| Stop Loss Rs 820
Expert: Kunal Bothra, Market Expert told ETNow
M&M: Buy| Target Rs 3200| Stop Loss Rs 3000
ZEEL: Buy| Target Rs 170| Stop Loss Rs 130
Angel One: Buy| Target Rs 3350| Stop Loss Rs 3100
Expert: Nooresh Merani, an independent technical analyst told ETNow
Infosys: Buy| Target Rs 2050| Stop Loss Rs 1880
Kotak Mahindra Bank: Buy| Target Rs 1880| Stop Loss Ts 1765
Lemon Tree: Buy| Target Rs 155| Stop Loss Rs 125
(Disclaimer: Recommendations, suggestions, views, and opinions given by experts are their own. These do not represent the views of the Economic Times)