On the options front, the weekly maximum Call OI was placed at 17,700 and then towards 17,600 strikes while the maximum Put OI was placed at 17,500 and then towards 17300 strikes.
“Options data suggests a broader trading range in between 17100 to 17800 zones while an immediate trading range in between 17400 to 17700 zones,” Chandan Taparia, Analyst-Derivatives at Motilal Oswal Financial Services Limited, said.
“Nifty formed a Bullish candle and has been making higher highs – higher lows from the last four sessions,” he said.
“Now, the index has to hold above 17500 zones to extend the move towards 17700 and 17777 zones while on the downside supports shift higher at 17442 then 17350 marks,” added Taparia.
We have collated stocks from various experts for traders who have a short-term trading horizon:
Expert: Jayesh Bhanushali, Sr Derivative & Technical Research Analyst, IIFL told ETBureau
HDFC: Buy | Target Rs 2800 | Stop Loss Rs 2630
InterGlobe Aviation: Buy | Target Rs 2010 | Stop Loss Rs 1865
ICICI Bank: Buy | Target Rs 912 | Stop Loss Rs 862
Expert: Kunal Bothra, Market Expert told ETNow
L&T: Buy | Target Rs 2275 | Stop Loss Rs 2225
Bajaj Auto: Buy | Target Rs 4100 | Stop Loss Rs 3950
Expert: Nooresh Merani, an independent technical analyst told ETNow
Indian Hotels: Buy | Target Rs 360| Stop Loss Rs 310
Mahanagar Gas: Buy | Target Rs 1100| Stop Loss Rs 930
(Disclaimer: Recommendations, suggestions, views, and opinions given by experts are their own. These do not represent the views of Economic Times)
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