The Nifty future closed positively with marginal gains at 25,541 levels on Monday. India VIX rose by about 2% to close at 12.56.
On the options front, the maximum Call OI is placed at 25,500 and then towards 26,000 strikes while the maximum Put OI is placed at 25,400 and then towards 25,300 strikes.
Call writing is seen at 25,500 and then towards 25,600 strikes, while Put writing is seen at 25,400 and then towards 25,300 strikes.
“Options data suggests a broader trading range in between 25,000 to 26,000 zones while an immediate range between 25,300 to 25,700 levels,” Chandan Taparia, Analyst-Derivatives at Motilal Oswal Financial Services Limited, said.
“On the daily chart, it formed a small-bodied candle on Monday, indicating indecision, but managed to negate the pattern of lower highs seen over the past two sessions,” he added.“Going forward, a sustained move above 25,500 could see an up move towards 25,650 and 25,800 levels, while failure to hold may lead to weakness towards 25,350 and then 25,222 zones,” recommended Taparia.
We have collated stocks from various experts for traders who have a short-term trading horizon:
Expert: Dharmesh Shah, Head – Technical, ICICI Securities told ETBureau
RIL: Buy| Target Rs 1615| Stop Loss Rs 1494
IOC: Buy| Target Rs 164| Stop Loss Rs 147
CESC: Buy| Target Rs 191| Stop Loss Rs 174
Expert: Kunal Bothra, Market Expert told ETNow
Sun Pharma: Buy| Target Rs 1710| Stop Loss Rs 1650
Apollo Tyres: Buy| Target Rs 480| Stop Loss Rs 450
CESC: Buy| Target Rs 188| Stop Loss Rs 176
Expert: Sharan Lillaney, Independent SEBI Research Analyst
Britannia Industries: Buy| Target Rs 6024| Stop Loss Rs 5744
ICICI Prudential: Buy| Target Rs 696| Stop Loss Rs 636
Voltas: Buy| Target Rs 1405| Stop Loss Rs 1325
(Disclaimer: Recommendations, suggestions, views, and opinions given by experts are their own. These do not represent the views of the Economic Times)
