The S&P BSE Sensex rose more than 150 points while Nifty50 closed above 17800 levels on Wednesday.
India VIX was up by 1.15% from 11.52 to 11.65 levels in the previous trading session. Volatility was slightly up, but, overall it has dried up and is consistently hovering near its lower band.
On the options front, the maximum Call OI is placed at 18000 and then towards 17900 strikes while the maximum Put OI is placed at 17700 and then towards 17800 strikes.
Minor Call writing is seen at 17850 then 17950 strikes while Put writing is seen at 17700 then 17800 strike.
“Options data suggests an immediate trading range in between 17700 to 17950 zones,” Chandan Taparia, Analyst-Derivatives at Motilal Oswal Financial Services Limited, said.
“Nifty formed a small-bodied Bullish candle on the daily frame on Wednesday and has been making higher highs from the last three sessions which indicates support-based buying at lower zones,” he said.“The index has got stuck with the absence of follow up and now it needs to hold above 17777 zones to witness an up move towards 17850 and 17950 zones while on the downside supports are placed at 17717 and 17666 marks,” recommends Taparia.
We have collated stocks from various experts for traders who have a short-term trading horizon:
Expert: Rajesh Palviya, VP Technical & Derivative Research at Axis Securities told ETBureau
GNFC: Buy| Traget Rs 670| Stop Loss Rs 550
Siemens: Buy| Target Rs 3685| Stop Loss Rs 3335
BergerPaints: Buy| Target Rs 650| Stop Loss Rs 590
Newgen: Buy| Target Rs 550| Stop Loss Rs 470
Expert: Nooresh Merani, an independent technical analyst told ETNow
GAIL India: Buy| Target Rs 125| Stop Loss Rs 106
Apollo Hospitals: Buy| Target Rs 4900| Stop Loss Rs 4250
Expert: Kunal Bothra, Market Expert told ETNow
Titan Company: Buy| Target Rs 2750| Stop Loss Rs 2575
DLF: Buy| Target Rs 440| Stop Loss Rs 400
Gland Pharma: Buy| Target Rs 1550| Stop Loss Rs 1280
(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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