The S&P BSE Sensex rose nearly 400 points while the Nifty50 closed above 21,300 levels on Thursday. The Nifty future closed positive with gains of 0.75% at 21376 levels.
India VIX was down by 4.79% from 14.41 to 13.75 levels in the previous session. Volatility cooled off after spiking to 15 zones and created swings.
Positive setup was seen in Aurobindo Pharma, AU Small Finance Bank, Voltas, Britannia Healthcare, HDFC Bank, Persistent Systems, ONGC, HDFC AMC and Birla Soft.
On the monthly options front, the maximum Call OI is placed at 21500 and then towards 21600 strikes while the maximum Put OI is placed at 21000 and then towards 21100 strikes.
Minor Call writing is seen at 21500 and then towards 21600 strikes while Put writing is seen at 21200 and then towards 21100 strikes.
“Options data suggests a broader trading range in between 20900 to 21600 zones while an immediate trading range in between 21000 to 21400 zones,” Chandan Taparia, Senior Vice President | Analyst-Derivatives at Motilal Oswal Financial Services Limited, said.“Nifty formed a Bullish candle on a daily scale and closed near its day’s high zones. Now it has to hold above 21150 zones, for an up move towards 21450 then 21600 zones whereas supports are placed at 21150 then 20950 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: Pritesh Mehta, Lead Technical Analyst at YES Securities told ETBureau
Laurus Labs: Buy| Target Rs 438| Stop Loss Rs 380
Tata Motors: Sell| Target Rs 650| Stop Loss Rs 735
LTIMindTree: Buy| Target Rs 6550| Stop Loss Rs 3940
Expert: Nooresh Merani, an independent technical analyst told ETNow
ICICI Bank: Buy| Target Rs 1100| Stop Loss Rs 975
Maruti Suzuki India: Buy| Target Rs 11000| Stop Loss Rs 9800
Varroc Engineering: Buy| Target Rs 630| Stop Loss Rs 500
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(Disclaimer: Recommendations, suggestions, views, and opinions given by experts are their own. These do not represent the views of the Economic Times)
