The S&P BSE Sensex rose more than 100 points while the Nifty50 closed above 19300 levels on Monday.
India VIX was up by 2.63% from 12.08 to 12.39 levels in the previous session. Volatility spiked during the day and created swings within a range.
On the monthly options front, the maximum Call OI is placed at 19500 and then towards 19400 strikes while the maximum Put OI is placed at 19300 and then towards 19200 strikes.
Call writing is seen at 19550 and then towards 19500 strikes while Put writing is seen at 19300 and then towards 19200 strikes.
“Options data suggests a broader trading range in between 19100 to 19500 zones while an immediate trading range in between 19200 to 19400 zones,” Chandan Taparia, Analyst-Derivatives at Motilal Oswal Financial Services Limited, said.
“Nifty formed a Doji sort of candle on a daily frame on Monday with longer shadows on either side,” he said.“Now till Nifty holds below 19350 zones, weakness could be seen towards 19250 then 19200 zones whereas hurdles are placed at 19444 then 19580 zones,” recommends Taparia.
We have collated a list of stocks from various experts for traders who have a short-term trading horizon:
Expert: Dharmesh Shah, Head – Technical, ICICI Securities told ETBureau
NTPC: Buy| Target Rs 230| Stop Loss Rs 212
Lupin: Buy| Target Rs 1165| Stop Loss Rs 1073
Federal Bank: Buy| Target Rs 154| Stop Loss Rs 138
KPR Mill: Buy| Target Rs 768| Stop Loss Rs 697
Expert: Kunal Bothra, Market Expert told ETNow
Laxmi Organic Industries: Buy| Target Rs 303| Stop Loss Rs 278
Expert: CA Rudramurthy, managing director at Vachana Investments told ETNow
India Cements: Buy| Target Rs 275| Stop Loss Rs 230
(Disclaimer: Recommendations, suggestions, views, and opinions given by experts are their own. These do not represent the views of the Economic Times)