The Nifty future closed negative with losses of 1.13% at 22487 levels on Thursday. India VIX is at 24.18 levels.
Since it is the beginning of the new series (June series) options data is scattered at various strike prices. On the weekly options front, the maximum Call OI is placed at 23000 and then towards 22800 strikes.
Maximum Put OI is placed at 22000 and then towards 22500 strikes. Minor Call writing is seen at 22500 and then towards 22600 strikes while minor Put writing is seen at 22400 and then towards 22200 strikes.
“Options data suggests a broader trading range in between 21800 to 23100 zones while an immediate range between 22100 to 22800 levels,” says Chandan Taparia, Analyst-Derivatives at Motilal Oswal Financial Services Limited.“Nifty formed a Bearish candle on a daily scale and is forming lower highs from the last three sessions,” he said.“Now till it holds below 22500 zones weakness could be seen towards 22350 then 22222 zones whereas hurdles can be seen at 22600 then 22750 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: Pritesh Mehta, Lead Technical Analyst at YES Securities told ETBureau
Apollo Tyres Futures: Buy| Target Rs 428| Stop Loss Rs 484
Coromandel International: Buy| Target Rs 1430| Stop Loss Rs 1230
Texmaco Rail: Buy| Target Rs 225| Stop Loss Rs 190
Expert: Kunal Bothra, Market Expert told ETNow
Indus Tower: Buy| Target Rs 360| Stop Loss Rs 336
Oberoi Realty: Buy| Target Rs 1900| Stop Loss Rs 1800
Sona BLW Precision Forging: Buy| Target Rs 688| Stop Loss Rs 618
(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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