India VIX was down by 1.36% from 11.19 to 11.03 levels on Wednesday. Volatility cooled off and comforted the bulls.
On the weekly options front, the maximum Call OI is placed at 19,500 and then towards 19,600 strikes while the maximum Put OI is placed at 19,300 and then towards 19,400 strikes.
Call writing is seen at 19,500 and then towards 19,600 strikes while Put writing is seen at 19,400 and then towards 19,300 strikes.
“Options data suggests a broader trading range in between 18,900 to 19,700 zones while an immediate trading range in between 19,300 to 19,550 zones,” Chandan Taparia, Analyst-Derivatives at Motilal Oswal Financial Services Limited, said.
“Nifty formed a Doji on the daily frame and has been forming higher lows from the last five sessions,” he said.
“Now Nifty has to hold above 19400 zones, for an up move towards 19550 then 19600 zones whereas supports are gradually shifting higher and are placed at 19333 then 19250 zones,” recommended Taparia.We have collated a list of stocks from various experts for traders who have a short-term trading horizon:
Expert: Kunal Bothra, Market Expert told ETNow
DLF: Buy| Target Rs 630| Stop Loss Rs 585
GMDC: Buy| Target Rs 388| Stop Loss Rs 339
Dixon Technologies: Buy| Target Rs 5550| Stop Loss Rs 5250
Expert: Rajesh Palviya, VP-Technical & Derivative Research, Axis Securities told ETBureau
GMDC: Buy| Target Rs 485| Stop Loss Rs 320
United Spirits: Buy| Target Rs 1230| Stop Loss Rs 1060
Glenmark Pharma: Buy| Target Rs 885| Stop Loss Rs 760
CDSL: Buy| Target Rs 1785| Stop Loss Rs 1550
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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)
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