The Nifty future closed negative with losses of 0.54% at 22,080 levels on Thursday. India VIX was up by 2.08% from 12.62 to 12.88 levels.
On the options front, the maximum Call OI is placed at 22,500 and then towards 22700 strikes while the maximum Put OI is placed at 22000 and then towards 21800 strikes.
Call writing is seen at 22200 and then towards 22300 strikes while Put writing is seen at 22000 and then towards 21,050 strikes.
“Options data suggests a broader trading range in between 21700 to 22600 zones while an immediate trading range in between 21800 to 22400 zones,” Chandan Taparia, Analyst-Derivatives at Motilal Oswal Financial Services Limited, said.
“Nifty has formed a bearish candle on the daily frame on Thursday and has been forming lower lows from the last four sessions,” he said.“Now till Nifty holds below 22050 zones, weakness could be seen towards 21850 then 21700 zones whereas hurdles are placed at 22100 then 22222 zones,” recommended Taparia.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: Nooresh Merani, an independent technical analyst told ETNow
Titan Company: Sell| Target Rs 3400| Stop Loss Rs 3600
Hindalco: Buy| Target Rs 670| Stop Loss Rs 575
Crompton Greaves Consumer: Buy| Target Rs 320| Stop Loss Rs 280
Expert: Kunal Bothra, Market Expert told ETNow
PFC: Sell| Target Rs 375| Stop Loss Rs 415
BHEL: Sell| Target Rs 245| Stop Loss Rs 258
PVR Inox: Buy| Target Rs 1480| Stop Loss Rs 1400
(Disclaimer: Recommendations, suggestions, views, and opinions given by experts are their own. These do not represent the views of the Economic Times)
