The Nifty futures closed positively with gains of 0.85%, reaching 26,220 on Thursday. The volatility index, India VIX, cooled by 7.12%, settling at 11.84, indicating a decrease in market volatility.
On the options front, the maximum Call Open Interest (OI) is placed at 27,500, followed by 27,000 strikes, while the maximum Put OI is at 26,000 and then 25,000 strikes.
Call writing is observed at 27,000 and 26,200 strikes, while Put writing is at 26,000 and 25,000 strikes.
“Options data suggests a broader trading range between the 25,800 and 26,600 zones, with an immediate range between 26,000 and 26,400 levels,” said Chandan Taparia, Analyst-Derivatives at Motilal Oswal Financial Services Limited.
“Nifty formed a bullish candle on the daily chart on Thursday after a range breakout from the last three sessions, with higher highs over the last six sessions,” he noted.“Now, the index needs to hold above the 26,150 level for an upward move toward the 26,350 and then the 26,500 zones, while supports are placed at 26,100 and then 26,000,” Taparia recommended.
We have collated a list of stocks from the F&O basket along with cash market from various experts for traders who have a short-term trading horizon:
Expert: Amol Athawale, VP – Technical Research at Kotak Securities
Persistent Systems: Buy | Target: Rs 5,570 | Stop Loss: Rs 533
NMDC: Buy | Target: Rs 240 | Stop Loss: Rs 229
Aditya Birla Capital: Buy | Target: Rs 244 | Stop Loss: Rs 232
Bandhan Bank: Buy | Target: Rs 212 | Stop Loss: Rs 201
Expert: Kunal Bothra, Market Expert told ETNow
Vedanta: Buy | Target: Rs 525 | Stop Loss: Rs 485
PVR Inox: Buy | Target: Rs 1,800 | Stop Loss: Rs 1,700
Hindustan Copper: Buy | Target: Rs 375 | Stop Loss: Rs 329
Expert: Nooresh Merani, an independent technical analyst told ETNow
UltraTech Cements: Buy | Target: Rs 12,800 | Stop Loss: Rs 11,700
Eicher Motors: Buy | Target: Rs 5,400 | Stop Loss: Rs 4,850
Aditya Birla Capital: Buy | Target: Rs 250 | Stop Loss: Rs 232
(Disclaimer: Recommendations, suggestions, views, and opinions given by experts are their own. These do not represent the views of the Economic Times)
