India VIX was down by 4.50% from 13.11 to 12.52 levels on Thursday. Cooling off volatility gave strength to the bulls in the latter part of the session.
India VIX was down by 4.50% from 13.11 to 12.52 levels on Thursday. Cooling off volatility gave strength to the bulls in the latter part of the session.
Options data is scattered at various far strikes in the monthly series. On the Options front, the weekly maximum Call OI is placed at 18,500 and then towards 18,300 strikes.
The maximum Put OI is placed at 18,000 and then towards 18,200 strike. Minor Call writing is seen at 18,300 then 18,500 strike while Put writing is seen at 18,300 then 18,200 strike.
“Options data suggests a broader trading range in between 18,000 to 18,600 zones while an immediate trading range in between 18,100 to 18,500 zones,” Chandan Taparia, Analyst-Derivatives at Motilal Oswal Financial Services Limited, said.
“Nifty formed a bullish candle on a daily scale with a longer lower shadow indicating support-based buying. The index has been witnessing buying interest at key levels which are keeping the overall momentum intact with a buying on decline stance,” he said. “Now, the index has to hold above 18281 zones, for an up move towards 18400 and 18442 zones while on the downside support exists at 18218 and 18181 zones,” recommended Taparia.
We have collated stocks from various experts for traders who have a short-term trading horizon:
Expert: Pritesh Mehta, Lead Technical Analyst – Institutional Equities at YES Securities told ETBureau
Bharti Airtel: Buy | Target Rs 875 | Stop Loss Rs 797
PFC: Buy | Target Rs 182 | Stop Loss Rs 165
Tata Power: Buy | Target Rs 230 | Stop Loss Rs 199
(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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