On the weekly options front, the maximum Call OI is placed at 20000 and then towards 19800 strikes while the maximum Put OI is placed at 19700 and then towards 19600 strikes.
Minor Call writing is seen at 20000 and then towards 19900 strikes while Put writing is seen at 19800 and then towards 19650 strikes.
“Options data suggests a broader trading range in between 19500 to 20000 zones while an immediate trading range in between 19650 to 19900 zones,” Chandan Taparia, Analyst-Derivatives at Motilal Oswal Financial Services Limited, said.
“Nifty formed a small-bodied Bearish candle on the daily frame on Wednesday with a longer lower shadow indicating bulls are active at any small decline,” he said.
“Now the Nifty has to continue to hold above 19750 zones, for an up move towards 19950 then 20050 zones whereas supports are placed at 19750 then 19650 zones,” recommended Taparia.
We have collated a list of stocks from various experts for traders who have a short–term trading horizon:
Expert: Gajendra Prabhu, Technical & Derivative Analyst at HDFC Securities told ETBureau
Godrej Consumer Products: Buy| Target Rs 1060| Stop Loss Rs 964.80
OIL India: Buy| Target Rs 350| Stop Loss Rs 316.80
Expert: Kunal Bothra, Market Expert told ETNow
L&T Finance Holdings: Buy| Target Rs 150| Stop Loss Rs 134
ITD Cementation: Buy| Target Rs 240| Stop Loss Rs 215
CESC: Buy| Target Rs 100| Stop Loss Rs 88
Expert: Nooresh Merani, an independent technical analyst told ETNow
GAIL India: Buy| Target Rs 150| Stop Loss Rs 127
IGL: Buy| Target Rs 530| Stop Loss Rs 470
Sun TV: Buy| Target Rs 700| Stop Loss Rs 630
(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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