The Nifty future closed negatively with losses of 0.20% at 25,173 levels on Monday. India VIX was up 1.3% to close at 11.98 in the previous session.
On the options front, the maximum Call OI is at 25,500 and then at 25,300 strikes, while the maximum Put OI is at 25,000 and then at 25,100 strikes.
Call writing is seen at 25,100 and then at 25,200 strikes, while Put writing is seen at 25,100 and then at 25,000 strikes.
“Options data suggests a broader trading range in between 24,600 to 25,600 zones while an immediate range between 24,800 to 25,300 levels,” Chandan Taparia, Analyst-Derivatives at Motilal Oswal Financial Services Limited, said.
“Nifty formed a bearish candle on the daily frame on Monday and has begun to slope downward as its making lower top – lower bottom structure indicating some selling pressure is intact at bounce,” he added.“Now till the Nifty index holds below 25,150 zones, weakness could be seen towards 25,000 then 24,800 zones while hurdles are shifting lower at 25,222 then 25,350 zones,” recommended Taparia.
We have collated stocks from various experts for traders who have a short-term trading horizon:
Expert: Ajit Mishra – SVP, Research, Religare Broking Ltd told ETBureau
Biocon: Buy| Target Rs 398| Stop Loss Rs 368
LIC Housing Finance: Buy| Target Rs 628| Stop Loss Rs 694
Marico: Buy| Target Rs 755| Stop Loss Rs 714
Tata Motors: Sell| Target Rs 642| Stop Loss Rs 692
Expert: Sharan Lillaney, Independent SEBI Research Analyst
Prestige Estates Projects Ltd: Buy| Target Rs 1776| Stop Loss Rs 1676
Ambuja Cements: Buy| Target Rs 605| Stop Loss Rs 575
Voltas: Buy| Target Rs 1401| Stop Loss Rs 1351
(Disclaimer: Recommendations, suggestions, views, and opinions given by experts are their own. These do not represent the views of the Economic Times)
