The Nifty future closed positively with gains of 0.71% at 25,250 levels on Wednesday. India VIX fell by nearly 5% to close at 12.97 in the previous session.
On the options front, the maximum Call OI is placed at 25,300 and then towards 25,500 strikes while the maximum Put OI is placed at 25,200 and then towards 25,000 strikes.
Call writing is seen at 25,250 and then towards 25,300 strikes, while Put writing is seen at 25,200 and then towards 25,150 strikes.
“Options data suggests a broader trading range in between 24,700 to 25,700 zones while an immediate range between 25,000 to 25,400 levels,” Chandan Taparia, Analyst-Derivatives at Motilal Oswal Financial Services Limited, said.
“Nifty formed a bullish candle on the daily frame on Wednesday and has been forming higher lows from the last four sessions,” he said.“Now the index has to hold above 25,150, for an up move towards 25,350 and 25,500 zones while supports can be seen at 25,100 then 24,900 zones,” recommended Taparia.
We have collated stocks from various experts for traders who have a short-term trading horizon:
Expert: Jaynit Vora, CMT – Research Analyst, IIFL told ETBureau
Mphasis Ltd: Buy| Target Rs 2870| Stop Loss Rs 2675
M&M: Buy| Target Rs 3370| Stop Loss Rs 3120
Titan Company: Buy| Target Rs 3800| Stop Loss Rs 3530
F&O Stocks –
CESC: Buy| Target Rs 182| Stop Loss Rs 166
Expert: Kunal Bothra, Market Expert told ETNow
BHEL: Buy| Target Rs 270| Stop Loss Rs 255
HDFC AMC: Buy| Target Rs 5200| Stop Loss Rs 5000
NYKAA: Buy| Target Rs 214| Stop Loss Rs 198
(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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