The S&P BSE Sensex rose more than 300 points while the Nifty50 closed above 19700 levels on Wednesday.
India VIX was up by 2.12% from 10.24 to 10.45 levels in the previous trading session. Volatility was slightly on the rise but is overall hovering on the lower band.
On the monthly options front, the maximum Call OI is placed at 19800 and then towards 20,000 strikes while the maximum Put OI is placed at 19700 and then towards 19600 strikes.
Minor Call writing is seen at 19900 and then towards 19850 strikes while Put writing is seen at 19750 and then towards 19650 strikes.
“Options data suggests an immediate trading range in between 19650 to 19950 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. The overall momentum is intact on the positive side,” he said.“Now the index has to hold above 19700 zones to extend the move towards 19888 then 19991 zones while on the downside support is placed at 19620 and 19560 zones,” recommends Taparia.
We have collated a list of stocks from various experts for traders who have a short-term trading horizon:
Expert: Jayesh Bhanushali, Senior Derivative & Technical Research Analyst, IIFL told ETBureau
IDFC: Buy| Target Rs 123| Stop Loss Rs 113
Tata Communication: Buy| Target Rs 1740| Stop Loss Rs 1610
Kalpataru Projects: Buy| Target Rs 635| Stop Loss Rs 578
Expert: Kunal Bothra, Market Expert told ETNow
Bata India: Buy| Target Rs 1800| Stop Loss Rs 1650
PVR Inox: Buy| Target Rs 1600| Stop Loss Rs 1470
IDFC First Bank: Buy| Target Rs 88| Stop Loss Rs 80
Expert: Nooresh Merani, an independent technical analyst told ETNow
SBI: Buy| Target Rs 675| Stop Loss Rs 600
ONGC: Buy| Target Rs 190| Stop Loss Rs 168
Bandhan Bank: Buy| Target Rs 240| Stop Loss Rs 214
(Disclaimer: Recommendations, suggestions, views, and opinions given by experts are their own. These do not represent the views of the Economic Times)