The Nifty future closed positive with marginal gains of 0.06% at 23015 levels on Friday. India VIX was up by 1.54% from 21.38 to 21.71 levels.
On the weekly options front, the maximum Call OI is placed at 23000 and then towards 23500 strikes while the maximum Put OI is placed at 23000 and then towards 22500 strikes.
Call writing is seen at 23500 and then towards 23000 strikes while Put writing is seen at 23000 and then towards 22500 strikes.
“Options data suggests a broader trading range in between 22500 to 23500 zones while an immediate range between 22700 to 23200 levels,” Chandan Taparia, Analyst-Derivatives at Motilal Oswal Financial Services Limited, said.“Nifty formed a small-bodied Bullish candle on the daily scale on Friday and has been making higher highs from the last ten trading sessions. It formed a Bullish candle on the weekly frame,” he said.“Now the index has to hold above 22900 zones for an up move towards 23200 then 23350 zones whereas supports are shifting higher at 22850 then 22700 zones,” recommended Taparia.We have collated a list of stocks from the F&O basket along with cash market from various experts for traders who have a short-term trading horizon:
Expert: Chandan Taparia, Analyst-Derivatives at Motilal Oswal Financial Services Limited told ETBureau
TVS Motor Company: Buy| Target Rs 2340| Stop Loss Rs 2185
PFC: Buy| Target Rs 515| Stop Loss Rs 479
KEI Industries: Buy| Target Rs 4480| Stop Loss Rs 4180
Expert: Kunal Bothra, Market Expert told ETNow
HDFC Bank: Buy| Target Rs 1550| Stop Loss Rs 1490
TVS Motor: Buy| Target Rs 2320| Stop Loss Rs 2200
NMDC: Buy| Target Rs 280| Stop Loss Rs 260
(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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