The Nifty future closed negative with losses of 0.26% at 21830 levels on Monday. India VIX was up by 1.24% from 14.50 to 14.68 levels. Volatility was slightly down and has been cooling off in the last three sessions.
Positive setup was seen in stocks like Vodafone Idea, GNFC, LIC Housing Finance, Motherson, NALCO, REC, PFC, Nestle India, OFSS, Gail India, Ambuja Cement, Ashok Leyland, Tech Mahindra, Exide Industries, Coal India, Wipro, HCL Tech etc. among others.
On the weekly optionsfront, the maximum Call OI is placed at 22000 and then towards 21800 strikes while the maximum Put OI is placed at 21700 and then towards 21600 strikes.
Minor Call writing is seen at 21850 and then towards 21900 strikes while some Put writing is seen at 21700 and then towards 21600 strikes.
“Options data suggests a broader trading range in between 21300 to 22500 zones while an immediate trading range in between 21500 to 22000 zones,” Chandan Taparia, Senior Vice President | Analyst-Derivatives at Motilal Oswal Financial Services Limited, said.
“Nifty formed a small-bodied candle on the daily scale with longer shadows but has been making higher lows from the last six sessions,” he said.“Now the index has to hold above 21650 zones, for an up move towards 22000 then 22222 zones whereas supports are placed at 21650 then 21500 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: Dharmesh Shah, Head – Technical, ICICI Securities told ETBureau
RIL: Buy| Target Rs 2708| Stop Loss Rs 2523
State Bank of India: Buy| Target R 690| Stop Loss Rs 609
Ashok Leyland: Buy| Target Rs 202| Stop Loss Rs 176
Gujarat Industries Power: Buy| Target Rs 198| Stop Loss Rs 172
Expert: Nooresh Merani, an independent technical analyst told ETNow
ICICI Bank: Buy| Target Rs 1100| Stop Loss Rs 980
Apollo Hospitals: Buy| Target Rs 6100| Stop Loss Rs 5650
Varroc Engineering: Buy| Target Rs 650| Stop Loss Rs 530
Expert: Kunal Bothra, Market Expert told ETNow
RBL Bank: Buy| Target Rs 300| Stop Loss Rs 270
Samvardhana Motherson: Buy| Target Rs 114| Stop Loss Rs 105
CESC: Buy| Target Rs 144| Stop Loss Rs 130
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(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)
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