The Nifty future closed negative with losses of 0.43% at 24196 levels on Friday.
On the options front, the maximum Call OI is placed at 24,500 and then towards 24,200 strikes while the maximum Put OI is placed at 24,200 and then towards 23,500 strikes.
Call writing is seen at 24,200 and then towards 24,600 strikes while Put writing is seen at 24,100 and then towards 23,900 strikes.
“Options data suggests a broader trading range in between 23,700 to 24,500 zones while an immediate range between 23,850 to 24,400 levels,” Chandan Taparia, Head, Equity Derivatives & Technicals, Wealth Management, MOFSL, said
“Nifty formed a small-bodied bearish candle on the daily and weekly frame. Now it has to hold above 24,150 zones, for a bounce towards 24,350 and 24,500 zones whereas supports are placed at 24,050 then 23,900 zones,” recommended Taparia.We have collated a list of stocks from the F&O basket along with cash market from various experts for traders who have a short-term trading horizon:
Expert: Chandan Taparia, Head, Equity Derivatives & Technicals, Wealth Management, MOFSL told ETBureau
BSE: Buy | Target Rs 4,900 | Stop Loss Rs 4,560
Paytm: Buy | Target Rs 888 | Stop Loss Rs 830
CDSL: Buy | Target Rs 1,670 | Stop Loss Rs 1,560
Expert: Nooresh Merani, an independent technical analyst told ETNow
Wipro: Buy | Target Rs 600 | Stop Loss Rs 555
NALCO: Buy | Target Rs 260 | Stop Loss Rs 228
Bank of Baroda: Buy | Target Rs 275 | Stop Loss Rs 247
(Disclaimer: Recommendations, suggestions, views, and opinions given by experts are their own. These do not represent the views of the Economic Times)
