On the weekly options front, the maximum Call OI is placed at 19800 and then towards 19700 strikes while the maximum Put OI is placed at 19600 and then towards 19400 strikes.
Call writing is seen at 19700 and then towards 19800 strikes while Put writing is seen at 19600 and then towards 19650 strikes.
“Options data suggests a broader trading range in between 19300 to 19900 zones while an immediate trading range in between 19500 to 19800 zones,” Chandan Taparia, Analyst-Derivatives at Motilal Oswal Financial Services Limited, said.
“Nifty formed a Bullish hammer candle on Wednesday with a long lower shadow indicating support-based buying,” he said.
“Now the Nifty has to hold above 19650 zones, for an up move towards 19750 then 19850 zones whereas supports are gradually shifting higher and are placed at 19550 then 19442 zones,” recommended Taparia.
We have collated a list of stocks from F&O basket along with cash market from various experts for traders who have a short-term trading horizon:
Expert: Jayesh Bhanushali, Senior Derivative & Technical Research Analyst, IIFL told ETBureau
Shriram Finance: Buy| Target Rs 2100| Stop Loss Rs 1980
Coforge: Buy| Target Rs 5500| Stop Loss Rs 5230
UltraTech Cement: Buy| Target Rs 9000| Stop Loss Rs 8580
Expert: Kunal Bothra, Market Expert told ETNow
Tata Steel: Buy| Target Rs 133| Stop Loss Rs 120
RIL: Buy| Target Rs 2430| Stop Loss Rs 2320
Snowman Logistics: Buy| Target Rs 65| Stop Loss Rs 50
Expert: Nooresh Merani, an independent technical analyst told ETNow
Container Corp: Buy| Target Rs 800| Stop Loss Rs 738
Hero MotoCorp: Buy| Target Rs 3500| Stop Loss Rs 3100
MRPL: Buy| Target Rs 135| Stop Loss Rs 112
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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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