On the options front, the maximum Call OI is placed at 19800 and then towards 20000 strikes while the maximum Put OI is placed at 19700 and then towards 19500 strikes.
Call writing is seen at 19800 and then towards 19850 strikes while Put writing is seen at 19700 and then towards 19600 strikes.
“Options data suggests a shift in a slight lower trading range in between 19500 to 20100 zones while an immediate trading range in between 19550 to 19850 zones,” Chandan Taparia, Analyst-Derivatives at Motilal Oswal Financial Services Limited, said.
“Nifty formed a Bearish candle on the weekly frame and negated its higher highs – higher lows formation of the last two weeks on Friday,” he said.
“Now till Nifty holds below 19750 zones, some more profit booking may be seen towards 19550 and 19500 zones whereas hurdles are placed at 19750 then 19850 zones,” recommended Taparia.
We have collated a list of stocks from various experts for traders who have a short-term trading horizon:
Expert: Parag Shah, Technical Analyst, Research, Nuvama Wealth Management told ETBureau
Bandhan Bank: Buy| Target Rs 267| Stop Loss Rs 240.50
IndusInd Bank: Buy| Target Rs 1555| Stop Loss Rs 1400
Granules India: Buy| Target Rs 361.50| Stop Loss Rs 325.50
Expert: Nooresh Merani, an independent technical analyst told ETNow
GAIL India: Buy| Target Rs 135| Stop Loss Rs 117
Granules India: Buy| Target Rs 375| Stop Loss Rs 325
Bandhan Bank: Buy| Target Rs 275| Stop Loss Rs 240
(Disclaimer: Recommendations, suggestions, views, and opinions given by experts are their own. These do not represent the views of the Economic Times)
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