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India VIX was down by 1.41% from 12.39 to 12.22 levels on Tuesday. Volatility moved in its previous day’s range and resulted in a lackluster move in the indices.
On the monthly options front, the maximum Call OI is placed at 19500 and then towards 19400 strikes while the maximum Put OI is placed at 19,300 and then towards 19,000 strikes.
Call writing is seen at 19,400 and then towards 19,350 strikes while Put writing is seen at 19,250 and then towards 19,300 strikes.
“Options data suggests a broader trading range in between 19,100 to 19,500 zones while an immediate trading range in between 19,250 to 19,450 zones,” Chandan Taparia, Analyst-Derivatives at Motilal Oswal Financial Services Limited, said.
“Nifty formed a small-bodied Bearish candle on the daily frame with a longer lower shadow on Tuesday indicating support-based buying,” he said.
“Now Nifty has to cross and hold above 19,350 zones for an upside move towards 19,444 and 19,480 zones whereas supports are placed at 19,250 and 19,200 zones,” recommended Taparia.We have collated a list of stocks from various experts for traders who have a short-term trading horizon:
Expert: Jay Thakkar, Head Alternate Research, Sharekhan by BNP Paribas told ETBureau
Gujarat Ambuja Exports: Buy| Target Rs 304| Stop Loss Rs 245
RVNL: Buy| Target Rs 145| Stop Loss Rs 120
Jubilant Ingrevia: Buy| Target Rs 579| Stop Loss Rs 472
Expert: Nooresh Merani, an independent technical analyst told ETNow
IGL: Buy| Target Rs 490| Stop Loss Rs 450
LIC Housing Finance: Buy| Target Rs 480| Stop Loss Rs 415
NHPC: Buy| Target Rs 60| Stop Loss Rs 48
Expert: Kunal Bothra, Market Expert told ETNow
NTPC: Buy| Target Rs 230| Stop Loss Rs 216
Deepak Nitrite: Buy| Target Rs 2300| Stop Loss Rs 2100
GSFC: Buy| Target Rs 200| Stop Loss Rs 164
(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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