The S&P BSE Sensex and Nifty50 closed flat with a positive bias on Monday.
India VIX was down by 0.59% from 11.53 to 11.46 levels on Monday. Volatility sunk lower and is hovering near its lower band which may support the bulls near immediate support zones.
Indian market is expected to trade higher on Tuesday tracking positive global cues.
The S&P BSE Sensex and Nifty50 closed flat with a positive bias on Monday.
India VIX was down by 0.59% from 11.53 to 11.46 levels on Monday. Volatility sunk lower and is hovering near its lower band which may support the bulls near immediate support zones.
On the weekly options front, the maximum Call OI is placed at 19400 and then towards 19500 strikes while the maximum Put OI is placed at 19400 and then towards 19300 strikes.
Minor Call writing is seen at 19500 then 19600 strike while Put writing is seen at 19200 then 19000 strike.
“Options data suggests a broader trading range in between 19100 to 19700 zones while an immediate trading range in between 19200 to 19500 zones,” Chandan Taparia, Analyst-Derivatives at Motilal Oswal Financial Services Limited, said.
“Nifty formed a small-bodied Bearish candle and an Inside Bar on the daily scale but closed with gains of around 25 points,” he said.
“Now, Nifty has to hold above 19300 zones to extend the move towards 19420 and fresh all-time high levels of 19525 zones while on the downside support is intact at 19250 and 19100 zones,” added Taparia.
We have collated stocks from various experts for traders who have a short-term trading horizon:
Expert: Ajit Mishra, VP-Technicals, Religare Broking told ETBureau
Bharti Airtel: Buy| Target Rs 945| Stop Loss Rs 855
Canara Bank: Buy| Target Rs 358| Stop Loss Rs 318
Sun Pharma: Buy| Target Rs 1120| Stop Loss Rs 1010
Expert: Kunal Bothra, Market Expert told ETNow
Tata Steel: Buy| Target Rs 122| Stop Loss Rs 111
RIL: Buy| Target Rs 2850| Stop Loss Rs 2670
Canara Bank: Buy| Target Rs 344| Stop Loss Rs 328
Expert: Nooresh Merani, an independent technical analyst told ETNow
Bosch: Buy| Target Rs 21000| Stop Loss Rs 18800
Bharti Airtel: Buy| Target Rs 925| Stop Loss Rs 870
IIFL Finance: Buy| Target Rs 600| Stop Loss Rs 525
(Disclaimer: Recommendations, suggestions, views, and opinions given by experts are their own. These do not represent the views of the Economic Times)
Minor Call writing is seen at 19500 then 19600 strike while Put writing is seen at 19200 then 19000 strike.
“Options data suggests a broader trading range in between 19100 to 19700 zones while an immediate trading range in between 19200 to 19500 zones,” Chandan Taparia, Analyst-Derivatives at Motilal Oswal Financial Services Limited, said.
“Nifty formed a small-bodied Bearish candle and an Inside Bar on the daily scale but closed with gains of around 25 points,” he said.
“Now, Nifty has to hold above 19300 zones to extend the move towards 19420 and fresh all-time high levels of 19525 zones while on the downside support is intact at 19250 and 19100 zones,” added Taparia.
We have collated stocks from various experts for traders who have a short-term trading horizon:
Expert: Ajit Mishra, VP-Technicals, Religare Broking told ETBureau
Bharti Airtel: Buy| Target Rs 945| Stop Loss Rs 855
Canara Bank: Buy| Target Rs 358| Stop Loss Rs 318
Sun Pharma: Buy| Target Rs 1120| Stop Loss Rs 1010
Expert: Kunal Bothra, Market Expert told ETNow
Tata Steel: Buy| Target Rs 122| Stop Loss Rs 111
RIL: Buy| Target Rs 2850| Stop Loss Rs 2670
Canara Bank: Buy| Target Rs 344| Stop Loss Rs 328
Expert: Nooresh Merani, an independent technical analyst told ETNow
Bosch: Buy| Target Rs 21000| Stop Loss Rs 18800
Bharti Airtel: Buy| Target Rs 925| Stop Loss Rs 870
IIFL Finance: Buy| Target Rs 600| Stop Loss Rs 525
(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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