India VIX was up by 2.69% from 10.14 to 10.41 levels on Monday. Volatility cooled off after spiking during the day but has been overall hovering near its lower band.
Since it is the beginning of the new series, Options data is scattered at various far strikes in the monthly series. On the weekly front, the maximum Call OI is placed at 19800 and then towards 20000 strikes.
The maximum Put OI is placed at 19600 and then towards 19700 strikes. Call writing is seen at 20000 and then towards 19950 strikes while the Put writing is seen at 19700 and then towards 19600 strikes.
“Options data suggests a broader trading range in between 19300 to 20200 zones while an immediate trading range in between 19500 to 20000 zones,” Chandan Taparia, Analyst-Derivatives at Motilal Oswal Financial Services Limited, said.
“Nifty negated its lower lows of the last two sessions and respected the support of 20 DEMA. Now, the index has to hold above 19700 zones to extend the move towards 19867 then 19991 zones while on the downside support is placed at 19560 and 19433 zones,” he said.
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 229| Stop Loss Rs 211
HEG: Buy| Target Rs 1898| Stop Loss Rs 1748
Indian Bank: Buy| Target Rs 370| Stop Loss Rs 337
Praj Industries: Buy| Target Rs 453| Stop Loss Rs 413
Expert: Kunal Bothra, Market Expert told ETNow
Tata Steel: Buy| Target Rs 130| Stop Loss Rs 119
BEL: Buy| Target Rs 138| Stop Loss Rs 127
NHPC: Buy| Target Rs 58| Stop Loss Rs 48
Expert: Nooresh Merani, an independent technical analyst told ETNow
SBI: Buy| Target Rs 680| Stop Loss Rs 600
Bank of Baroda: Buy| Target Rs 250| Stop Loss Rs 217
NMDC: Buy| Target Rs 130| Stop Loss Rs 113
(Disclaimer: Recommendations, suggestions, views, and opinions given by experts are their own. These do not represent the views of the Economic Times)