The Nifty Future closed positive with gains of 1.88% at 24,915 levels on Friday. India VIX was down 2.93% from 12.62 to 12.25 levels.
On the options front, the maximum Call OI is placed at 26,500 and then towards 25,500 strikes while the maximum Put OI is placed at 24,500 and then towards 24,000 strikes.
Call writing is seen at 26,000 and then towards 25,100 strikes while Put writing is seen at 24,500 and then towards 24,700 strikes.
“Options data suggests a broader trading range in between 24,500 to 25,300 zones while an immediate range between 24,700 to 25,100 levels,” Chandan Taparia, Analyst-Derivatives at Motilal Oswal Financial Services Limited, said.“Nifty has formed a Bullish candle on the daily frame on Friday which has negated its sequence of lower highs of the last four sessions,” he said.“Now the index has to hold 24,750 zones for an up move towards 25,000 and 25,150 zones whereas supports are placed at 24,700 then 24,600 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: Sagar Doshi, Technical Analyst Research at Nuvama Wealth told ETBureau
India Cements: Buy| Target Rs 397| Stop Loss Rs 361
Sonata Software: Buy| Target Rs 802| Stop Loss Rs 711
Ratnamani Metals & Tubes Ltd: Buy| Target Rs 3860| Stop Loss Rs 3465
Expert: Kunal Bothra, Market Expert told ETNow
BPCL: Buy| Target Rs 350| Stop Loss Rs 318
Bharti Airtel: Buy| Target Rs 1560| Stop Loss Rs 1480
HDFC Life: Buy| Target Rs 730| Stop Loss Rs 685
(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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