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Nifty futures closed with gains of 0.55% at 25,757 on Friday. The India VIX fell 1.6% to close at 12.39.
On the options front, the maximum Call open interest (OI) is placed at the 25,600 and then the 26,000 strikes, while the maximum Put OI is placed at the 25,500 and then the 25,000 strikes.
Call writing is seen at the 25,900 and then the 26,000 strikes, while Put writing is observed at the 25,600 and then the 25,500 strikes.
“Options data suggests a broader trading range between 25,000 and 26,000 zones, with an immediate range between 25,400 and 25,800 levels,” said Chandan Taparia, Analyst – Derivatives at Motilal Oswal Financial Services Limited.
“It formed a small-bodied bullish candle on the daily frame, which confirms the previous day’s breakout with follow-up buying and has been making higher lows for the last six sessions,” he added.“Now the index has to hold above 25,500 for an up move towards the 25,850 and 26,000 zones, while supports have shifted higher to 25,500 and then 25,350 zones,” recommended Taparia.
We have collated stocks from various experts for traders with a short-term trading horizon:
Expert: Aakash Hindocha, Technical Analyst, Research, Nuvama Wealth (told ET Bureau)
Bharat Forge Ltd: Buy | Target Rs 1,440 | Stop Loss Rs 1,269
IGL Ltd: Buy | Target Rs 231 | Stop Loss Rs 208
Titagarh Rail Systems Ltd: Buy | Target Rs 1,010 | Stop Loss Rs 908
Expert: Kunal Bothra, Market Expert (told ET Now)
Kotak Mahindra Bank: Buy | Target Rs 2,258–2,308 | Stop Loss Rs 2,158
Nestle India Ltd: Buy | Target Rs 2,518–2,578 | Stop Loss Rs 2,398
IGL Ltd: Buy | Target Rs 221–228 | Stop Loss Rs 207
(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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