On the weekly options front, the maximum Call OI is placed at 19800 and then towards 20000 strikes while the maximum Put OI is placed at 19600 and then towards 19500 strikes.
Minor Call writing is seen at 19850 and then towards 19750 strike while Put writing is seen at 19550 and then toward 19500 strikes.
“Options data suggests a broader trading range in between 19500 to 20000 zones while an immediate trading range in between 19500 to 19850 zones,” Chandan Taparia, Analyst-Derivatives at Motilal Oswal Financial Services Limited, said.
“Nifty formed a Bearish candle on the daily frame on Wednesday and negated its higher lows formation of the last two sessions,” he said.
“Now till Nifty holds below 19700 zones, weakness could be seen towards 19550 then 19450 zones whereas hurdles are placed at 19750 then 19850 zones,” recommended Taparia.
We have collated a list of stocks from various experts for traders who have a short-term trading horizon:
Expert: Jayesh Bhanushali, Senior Derivative & Technical Research Analyst, IIFL told ETBureau
Supreme Industries: Buy| Target Rs 4930| Stop Loss Rs 4550
Dr Reddy’s Laboratories: Buy| Target Rs 5900| Stop Loss Rs 5510
Jindal Saw: Buy| Target Rs 405| Stop Loss Rs 376
Expert: Kunal Bothra, Market Expert told ETNow
Tata Motors: Buy| Target Rs 688| Stop Loss Rs 655
Birlasoft: Sell| Target Rs 528| Stop Loss Rs 560
City Union Bank: Buy| Target Rs 155| Stop Loss Rs 135
Expert: Nooresh Merani, an independent technical analyst told ETNow
Sun Pharma: Buy| Target Rs 1250| Stop Loss Rs 1120
Motilal Oswal: Buy| Target Rs 1200| Stop Loss Rs 950
KNR Construction: Buy| Target Rs 320| Stop Loss Rs 265
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(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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