The Nifty future closed flat at 24,590 levels on Monday. India VIX was down by 0.61% from 14.40 to 14.32 levels.
On the options front, the maximum Call OI is placed at 25,000 and then towards 24,600 strikes while the maximum Put OI is placed at 23,900 and then towards 24,500 strikes.
Call writing is seen at 24,600 and then towards 25,000 strikes while Put writing is seen at 23,900 and then towards 24,600 strikes.
“Options data suggests a broader trading range in between 24,200 to 25,000 zones while an immediate range between 24,400 to 24,800 levels,” Chandan Taparia, Analyst-Derivatives at Motilal Oswal Financial Services Limited, said.“Nifty has decisively come out of its range of the last nine sessions and managed to close above 24550 zones with gains of around 30 points,” he said.“Now the index has to continue to hold above 24500 zones for an up move towards 24700 then 24900 levels while support is seen at 24450 then 24200 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: Dharmesh Shah, Head – Technical, ICICI Securities told ETBureau
RIL: Buy| Target Rs 3130| Stop Loss Rs 2874
Tech Mahindra: Buy| Target Rs 1675| Stop Loss Rs 1538
GAIL: Buy| Target Rs 252| Stop Loss Rs 230
Expert: Kunal Bothra, Market Expert told ETNow
Shriram Finance: Buy| Target Rs 3200| Stop Loss Rs 2966
Hindustan Copper: Buy| Target Rs 344| Stop Loss Rs 310
PCBL: Buy| Target Rs 440| Stop Loss Rs 402
Expert: Nooresh Merani, an independent technical analyst told ETNow
HCL Technologies: Buy| Target Rs 1780| Stop Loss Rs 1650
ITC: Buy| Target Rs 550| Stop Loss Rs 490
Keystone Realtors: Buy| Target Rs 900| Stop Loss Rs 730
(Disclaimer: Recommendations, suggestions, views, and opinions given by experts are their own. These do not represent the views of the Economic Times)