While the S&P BSE Sensex was down by 53.85 points or 0.08% and trading at 69,497.18, the broader Nifty50 eroded 1.80 points or 0.01% to trade at 20,904.60. Banking gauge Nifty Bank was hovering at 47,048.55, 49 points or 0.10% lower.
Amid a volatile trading session, Indian benchmark indices ended in the red on Tuesday, breaking their two-session winning streak. India VIX stood at 12.18, up 7.45% on Tuesday.
“With the 20,850 region rushing in to support yet again, we will start the day with positivity intact, and with eyes on 20980 or 21030, but not much beyond. Meanwhile, inability to float above 20925-45 region would strengthen the case for a fall towards 20,650-560,” Anand James, Chief Market Strategist at Geojit Financial Services said.
Nifty weekly contract has highest open interest at 21,000 for Calls and 20,900 for Puts while monthly contracts have highest open interest at 21,000 for Calls and 19,000 for Puts, he said. Highest new OI addition was seen at 21,000 for Calls and 20,500 for Puts in weekly and at 21,000 for Calls and 20,500 for Puts in monthly contracts, James added.
We have collated stocks for traders who have a short-term trading horizon:
Expert: Gajendra Prabhu, Technical and Derivative Analyst told ETBureau
Kotak Mahindra Bank: Buy | Target: Rs 1,937 | Stop Loss: Rs 1,759 | Last Close: Rs 1,821
VIP Industries: Buy | Target: Rs 658 | Stop Loss: Rs 590 | Last Close: Rs 613
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(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)