The Nifty future closed negatively with losses of 0.13% at 25,150 levels on Tuesday. India VIX fell nearly 5% to close at 13.98.
On the options front, the maximum Call OI is placed at 25,200 and then towards 25,500 strikes, while the maximum Put OI is placed at 25,000 and then towards 24,500 strikes.
Call writing is seen at 25,150 and then towards 25,200 strikes, while Put writing is seen at 25100 and then towards 25,000 strikes.
“Options data suggests a broader trading range in between 24,600 to 25,600 zones while an immediate range between 24900 to 25300 levels,” Chandan Taparia, Analyst-Derivatives at Motilal Oswal Financial Services Limited, said.
“Nifty formed a bearish candle on the daily chart on Tuesday with a longer lower shadow, which shows buying at lower levels and continuing its sequence of higher highs for the last five sessions,” he said.“Now the Nifty50 has to hold above 25,000 zones for an up move towards 25,200 then 25,400 levels while on the downside supports shifting higher at 25,000 then 24,850 zones,” recommended Taparia.
We have collated stocks from various experts for traders who have a short-term trading horizon:
Expert: Nagaraj Shetti, Technical Research Analyst, HDFC Securities Ltd told ETBureau
OFSS: Buy| Target Rs 9950| Stop Loss Rs 9250
Equitas Small Finance Bank: Buy| Target Rs 75| Stop Loss Rs 68
VIP Industries: Buy| Target Rs 388| Stop Loss Rs 360
Expert: Kunal Bothra, Market Expert told ETNow
Tata Motors: Buy| Target Rs 775| Stop Loss Rs 715
Axis Bank: Buy| Target Rs 1270| Stop Loss Rs 1210
Exide Industries: Buy| Target Rs 418| Stop Loss Rs 395
(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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