The Nifty futures closed positively with gains of 0.38%, reaching 24,309 levels on Wednesday. India VIX closed at 14.62, down 4.4% in the previous session.
On the options front, the maximum Call OI is placed at the 25,000 strike, followed by the 24,500 strike, while the maximum Put OI is placed at the 24,000 strike, followed by the 24,200 strike.
Call writing is seen at the 24,600 strike, followed by the 25,100 strike, while Put writing is observed at the 24,000 strike, followed by the 24,200 strike.
“Options data suggests a broader trading range between the 23,800 and 24,800 zones, with an immediate range between the 24,000 and 24,600 levels,” said Chandan Taparia, Head of Equity Derivatives & Technicals, Wealth Management, MOFSL.“Nifty formed a small-bodied bullish candle on a daily chart on Wednesday. It needs to hold above the 24,250 zone for an up move towards 24,500 and then 24,650 zones, while supports are placed at 24,150 and 24,000 zones,” Taparia recommended.We have collated a list of stocks from the F&O basket along with cash market recommendations from various experts for traders with a short-term trading horizon:
Expert: Jaynit Vora, CMT – Research Analyst, IIFL (ETBureau)
BEL: Buy | Target Rs 324 | Stop Loss Rs 295
CAMS: Buy | Target Rs 5,030 | Stop Loss Rs 4,700
Deepak Fertilizers: Buy | Target Rs 1410 | Stop Loss Rs 1285
Expert: Kunal Bothra, Market Expert (ETNow)
HAL: Buy | Target Rs 4,600 | Stop Loss Rs 4,,400
InterGlobe Aviation: Buy | Target Rs 4,400 | Stop Loss Rs 4,200
Syngene: Buy | Target Rs 960 | Stop Loss Rs 900
Expert: Nooresh Merani, Independent Technical Analyst (ETNow)
Syngene: Buy | Target Rs 980 | Stop Loss Rs 900
Birla Soft: Buy | Target Rs 650 | Stop Loss Rs 580
Bank of India: Buy | Target Rs 120 | Stop Loss Rs 107
(Disclaimer: Recommendations, suggestions, views, and opinions given by experts are their own and do not represent the views of The Economic Times)
