The Nifty future closed negatively with losses of 0.22% at 24,813 levels on Wednesday. India VIX fell nearly 1% to close at 14.28 in the previous session.
On the options front, the maximum Call OI is placed at 24,900 and then towards 250,00 strikes while the maximum Put OI is placed at 24,500 and then towards 24,800 strikes.
Call writing is seen at 24,800 and then towards 25,000 strikes while Put writing is seen at 24,750 and then towards 24,800 strikes.
“Options data suggests a broader trading range in between 24,300 to 25,300 zones while an immediate range between 24,600 to 25,000 levels,” Chandan Taparia, Analyst-Derivatives at Motilal Oswal Financial Services Limited, said.
“Nifty formed a Doji sort of candle on the daily frame on Wednesday and has got stuck in a range from the last three sessions. Support-based buying is intact but pressure at higher zones prevails,” he added.“Now if it manages to hold above 24,700, up move can be seen towards 24,950 and 25,200 zones while a hold below the same could see weakness towards 24,700 then 24,600 zones,” recommended Taparia.
We have collated stocks from various experts for traders who have a short-term trading horizon:
Expert: Rajesh Palviya, VP-Technical & Derivative Research, Axis Securities told ETBureau
Amber Enterprises: Buy| Target Rs 7350| Stop Loss Rs 6464
Astral Ltd: Buy| Target Rs 1775| Stop Loss Rs 1490
Cyient: Buy| Target Rs 1585| Stop Loss Rs 1285
F&O strategy –
D-Mart Future (June 26 Expiry): Buy| Target Rs 4545| Stop Loss Rs 4150
Eicher Motors Fut (June 26 Expiry): Buy| Target Rs 5750| Stop Loss Rs 5250
Expert: Kunal Bothra, Market Expert told ETNow
BPCL: Buy| Target Rs 325| Stop Loss Rs 308
Maruti Suzuki India: Buy| Target Rs 13000| Stop Loss Rs 12500
RBL Bank: Buy| Target Rs 238| Stop Loss Rs 224
(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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