India VIX was down by 1.35% from 10.96 to 10.82 levels in the previous trading session. Volatility has been cooling off from the last three sessions and comforting the bulls at support zones.
On the weekly options front, the maximum Call OI is placed at 19700 and then towards 19800 strikes while the maximum Put OI is placed at 19500 and then towards 19400 strikes.
Minor Call writing is seen at 19750 and then towards 19650 strikes while Put writing is seen at 19500 and then towards 19400 strikes.
“Options data suggests a broader trading range in between 19200 to 19800 zones while an immediate trading range in between 19400 to 19700 zones,” Chandan Taparia, Analyst-Derivatives at Motilal Oswal Financial Services Limited, said.
“Nifty formed a Doji sort of candle on the daily frame on Tuesday and has been forming higher highs – higher lows from the last three sessions,” he said.
“Now the index has to hold above 19500 zones for an up move towards 19650 and 19700 zones whereas support exists at 19500 then 19444 zones,” recommended Taparia.We have collated a list of stocks from various experts for traders who have a short-term trading horizon:
Expert: Gajendra Prabhu, Technical and Derivative Analyst at HDFC Securities told ETBureau
Sun Pharma: Buy| Target Rs 1185| Stop Loss Rs 1095
Tanla Platforms: Buy| Target Rs 1090| Stop Loss Rs 988
Expert: Nooresh Merani, an independent technical analyst told ETNow
ONGC: Buy| Target Rs 200| Stop Loss Rs 178
IndusInd Bank: Buy| Target Rs 1550| Stop Loss Rs 1390
Federal Bank: Buy| Target Rs 165| Stop Loss Rs 140
Expert: Kunal Bothra, Market Expert told ETNow
DLF: Buy| Target Rs 550| Stop Loss Rs 509
Glenmark Pharma: Buy| Target Rs 805| Stop Loss Rs 772
NBCC: Buy| Target Rs 66| Stop Loss Rs 55
(Disclaimer: Recommendations, suggestions, views, and opinions given by experts are their own. These do not represent the views of the Economic Times)
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