The S&P BSE Sensex rose more than 400 points while the Nifty50 closed above 18800 levels on Friday.
India VIX was down by 2.17% from 11.08 to 10.84 levels on Friday. Volatility sunk lower and supported the bulls at record high index levels.
On the options front, the weekly maximum Call OI is placed at 18800 and then towards 19000 strikes while the maximum Put OI is placed at 18700 and then towards 18800 strikes.
Call writing is seen at 19100 and then towards 19000 strikes while Put writing is seen at 18800 and then towards 18700 strikes.
“Options data suggests a shift in broader trading range in between 18550 to 19000 zones while an immediate trading range in between 18700 to 18900 zones,” Chandan Taparia, Analyst-Derivatives at Motilal Oswal Financial Services Limited, said.
“Nifty formed a Bullish candle on a daily scale and has been making higher highs from the last four sessions on Friday. It formed a Bullish candle on the weekly frame and has been making higher highs from the last twelve weeks,” he said.“Now, Nifty has to hold above 18777 zones to witness an up move towards 18888 and 19000 zones while on the downside support exists at 18710 and 18676 zones,” recommends Taparia.
We have collated stocks from various experts for traders who have a short-term trading horizon:
Expert: Aakash Hindocha, Technical Analyst, Research at Nuvama Wealth told ETBureau
Sun Pharma: Buy| Target Rs 520| Stop Loss Rs 468
Kotak Mahindra Bank: Buy| Target Rs 1990|Stop Loss Rs 1790
Indian Hotels: Buy| Target Rs 432| Stop Loss Rs 389.50
Bank of Baroda: Buy| Target Rs 201| Stop Loss Rs 181
Expert: Kunal Bothra, Market Expert told ETNow
BHEL: Buy| Target Rs 100| Stop Loss Rs 78
RIL: Buy| Target Rs 2650| Stop Loss Rs 2525
SBI: Buy| Target Rs 625|Stop Loss Rs 550
Expert: Nooresh Merani, an independent technical analyst told ETNow
Grasim Industries: Buy| Target Rs 2000| Stop Loss Rs 1730
RIL: Buy| Target Rs 2650| Stop Loss Rs 2525
RBL Bank: Buy| Target Rs 190| Stop Loss Rs 168
(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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