The Nifty future closed positive with gains of 0.75% at 24047 levels on Thursday. India VIX was up by 0.78% from 14.04 to 14.15 levels.
Since it is the beginning of a new series, the maximum Call OI is placed at 24000 and then towards 24500 strikes while the maximum Put OI is placed at 24000 and then towards 23500 strikes.
Minor Call writing is seen at 24500 and then towards 24200 strikes while Put writing is seen at 24000 and then towards 23800 strikes.
“Options data suggests a broader trading range in between 23600 to 24500 zones while an immediate trading range in between 23750 to 24250 levels,” says Chandan Taparia, Analyst-Derivatives at Motilal Oswal Financial Services Limited.“Nifty formed a Bullish candle on the daily frame on Thursday and has been forming higher highs – higher lows from the last three sessions,” he said.“Now the index has to continue to hold above 24000 zones to extend the move towards 24250 and 24400 zones whereas supports are placed at 23800 then 23700 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
Tech Mahindra: Buy| Target Rs 1560| Stop Loss Rs 1390
Indus Tower: Buy| Target Rs 400| Stop Loss Rs 350
Granules India: Buy| Target Rs 530| Stop Loss Rs 485
F&O Strategy –
Simens Future (July 25 Expiry): Buy| Target Rs 8300| Stop Loss Rs 7550
JK Cement Future (July 25 Expiry): Buy| Target Rs 5000| Stop Loss Rs 4300
Expert: Kunal Bothra, Market Expert told ETNow
IGL: Buy| Target Rs 520| Stop Loss Rs 470
Kotak Mahindra Bank: Buy| Target Rs 1950| Stop Loss Rs 1800
Manappuram Finance: Buy| Target Rs 230| Stop Loss Rs 200
(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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