In the options market, the maximum Call open interest (OI) is at the 25,000 and 26,000 strikes, while the maximum Put OI is at the 25,000 and 24,000 strikes. Call writing is observed at the 25,000 and 25,050 strikes, and Put writing is seen at the 24,400 and 25,050 strikes.
“Options data suggests a broader trading range between 24,600 and 25,500, with an immediate range between 24,800 and 25,300,” said Chandan Taparia, Analyst-Derivatives at Motilal Oswal Financial Services Limited.
“Nifty formed a Doji-like candle on the daily chart on Tuesday and is gradually inching higher,” he added.
“Now, the index needs to maintain levels above 25,000 for a potential move towards 25,150 and then 25,250, with support seen at 24,900 and then 24,800,” Taparia recommended.We have compiled a list of stocks from the F&O basket and cash market, curated by various experts, for traders with a short-term trading horizon.
Expert: Kunal Bothra, Market Expert told ETNow
REC: Buy | Target: Rs 650 | Stop Loss: Rs 600Bajaj Finserv: Buy | Target: Rs 1,750 | Stop Loss: Rs 1,690
Castrol India: Buy | Target: Rs 300 | Stop Loss: Rs 250
Expert: Nooresh Merani, an independent technical analyst told ETNow
Cholamandalam Investment & Finance: Buy | Target: Rs 1,540 | Stop Loss: Rs 1,420
Life Insurance Corporation: Buy | Target: Rs 1,200 | Stop Loss: Rs 1,040
Mayur Uniquoters: Buy | Target: Rs 750 | Stop Loss: Rs 610
(Disclaimer: Recommendations, suggestions, views, and opinions given by experts are their own. These do not represent the views of the Economic Times)