On the options front, the maximum Call OI is placed at the 25,000 strike, followed by the 24,700 strike, while the maximum Put OI is placed at the 24,000 strike, followed by the 24,200 strike.
Call writing is observed at the 24,700 strike, followed by the 25,000 strike, while Put writing is seen at the 24,600 strike, followed by the 24,000 strike.
“Options data suggests a broader trading range between the 24,100 to 25,000 zones, with an immediate range between the 24,300 to 24,800 levels,” said Chandan Taparia, Head of Equity Derivatives & Technicals, Wealth Management at MOFSL.
“Nifty formed a small-bodied candle on the daily timeframe on Monday. Now, it needs to hold above the 24,500 zone for an up move towards the 24,700 and 24,850 zones, while support can be seen at the 24,500 and 24,400 zones,” he added.
We have collated a list of stocks from the F&O basket, along with the cash market, from various experts for traders with a short-term trading horizon.
Expert: Dharmesh Shah, Head – Technical, ICICI Securities told ETBureau
Axis Bank: Buy | Target: Rs 1,230 | Stop Loss: Rs 1,124M&M: Buy | Target: Rs 3,200 | Stop Loss: Rs 2,938
Bharat Electronics: Buy | Target: Rs 332 | Stop Loss: Rs 302
Expert: Kunal Bothra, Market Expert told ETNow
Wipro: Buy | Target: Rs 320 | Stop Loss: Rs 292
Voltas: Buy | Target: Rs 1,800 | Stop Loss: Rs 1740
Canara Bank: Buy | Target: Rs 120 | Stop Loss: Rs 104
Expert: Nooresh Merani, an independent technical analyst told ETNow
Kotak Mahindra Bank: Buy | Target: Rs 1,900 | Stop Loss: Rs 1,770
Wipro: Buy | Target: Rs 330 | Stop Loss: Rs 294
Muthoot Finance: Buy | Target: Rs 2,100 | Stop Loss: Rs 1,960
(Disclaimer: Recommendations, suggestions, views, and opinions given by experts are their own. These do not represent the views of The Economic Times)
