The Nifty future closed negative with losses of 0.05% at 22563 levels on Monday. India VIX was up by 13.54% from 14.62 to 16.60 levels.
On the weekly options front, the maximum Call OI is placed at 22800 and then towards 22700 strikes while the maximum Put OI is placed at 22000 and then towards 22300 strikes.
Call writing is seen at 22500 and then towards 22800 strikes while Put writing is seen at 22400 and then towards 22300 strikes.
“Options data suggests a broader trading range in between 22000 to 23000 zones while an immediate range between 22300 to 22700 levels,” Chandan Taparia, Analyst-Derivatives at Motilal Oswal Financial Services Limited, said.In the cash market, FIIs sold to the tune of 2168.75 cr while DIIs bought to the tune of 781.39 cr on Monday.FIIs’ long short ratio has slightly improved to 45.47% as they bought 11681 index contracts.“The Nifty PCR is currently at 0.63. The meaningful call writing witnessed across 22500-22600 strikes, while put writing, was witnessed in 22400-22300 strikes,” Sudeep Shah, Deputy Vice President, Head of Technical and Derivative Research, SBI Securities, said.
“Going ahead, the 50 DMA zone of 22350-22300 will act as crucial support for the index, while resistance is seen at 22530-22560 zone,” he said.
“Any sustainable move below the level of 22300 will lead to further selling pressure in the index upto the 22180-22100 level, while a crossover above 22560 could lead to renewed momentum upto 22730-22780,” recommended Shah.
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: Ajit Mishra, SVP – Technical Research, Religare Broking Ltd told ETBureau
Aurobindo Pharma: Buy| Target Rs 1250| Stop Loss Rs 1115
Colgate Palmolive India: Buy| Target Rs 3000| Stop Loss Rs 2780
Havells India: Buy| Target Rs 1840| Stop Loss Rs 1590
Expert: Kunal Bothra, Market Expert told ETNow
Aditya Birla Fashion: Buy| Target Rs 270| Stop Loss Rs 237
Jubilant FoodWorks: Buy| Target Rs 500| Stop Loss Rs 457
NHPC: Buy| Target Rs 108| Stop Loss Rs 97
Expert: Nooresh Merani, an independent technical analyst told ETNow
Hindalco: Buy| Target Rs 690| Stop Loss Rs 620
Marico: Buy| Target Rs 580| Stop Loss Rs 520
EPL: Buy| Target Rs 220| Stop Loss Rs 184
Delhivery: Buy| Target Rs 550| Stop Loss Rs 440
(Disclaimer: Recommendations, suggestions, views, and opinions given by experts are their own. These do not represent the views of the Economic Times)
