The Nifty future closed negatively with losses of 0.47% at 24,993 levels on Monday. India VIX rose 2.7% to close at 14.05 in the previous session.
On the options front, the maximum Call OI is placed at 25,000 and then towards 25,500 strikes, while the maximum Put OI is placed at 24,000 and then towards 25,000 strikes.
Call writing is seen at 25,000 and then towards 25,300 strikes, while Put writing is seen at 24,600 and then towards 24,900 strikes.
βOptions data suggests a broader trading range between 24,500 to 25,300 zones, while an immediate range between 24,700 to 25,200 levels,β Chandan Taparia, Analyst β Derivatives at Motilal Oswal Financial Services Limited, said.
βNifty formed a small-bodied bullish candle and an inside bar on the daily frame on Monday, which indicates support-based buying is intact, but the negative impact of the geopolitical tensions sunk it below the 25k mark,β he said.βNow it has to hold above 24,900, for an up move towards 25,150 and 25,250 zones, while supports can be seen at 24,800 and then 24,700 zones,β recommended Taparia.We have collated stocks from various experts for traders who have a short-term trading horizon:
Expert: Dharmesh Shah, Head β Technical, ICICI Securities told ETBureau
Reliance Industries Ltd: Buy | Target Rs 1,530 | Stop Loss Rs 1,405
HAL: Buy | Target Rs 5,282 | Stop Loss Rs 4,844
Chola Finance Ltd: Buy | Target Rs 1,694 | Stop Loss Rs 1,493
Expert: Kunal Bothra, Market Expert told ETNow
BPCL Ltd: Buy | Target Rs 325 | Stop Loss Rs 307
Hindalco Industries Ltd: Buy | Target Rs 700 | Stop Loss Rs 641
Voltas Ltd: Buy | Target Rs 1,360 | Stop Loss Rs 1,270
(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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