The Nifty future closed positive with gains of 0.21% at 24406 levels on Thursday. India VIX was down by 2.98% from 14.43 to 14 levels.
Foreign Institutional Investors (FIIs) sold to the tune of Rs 1137.01 cr while Domestic Institutional Investors (DIIs) bought to the tune of Rs 1676.47 cr in the cash segment of Indian equity markets.
“The zone of 24,290-24,270 level on the Nifty50 will act as immediate support for the index. If the index slips below the level of 24,270, then the next support is placed in the zone of 24,210-24,190 level,” says Sudeep Shah, Deputy Vice President and head of Technical and Derivative Research, SBI Securities.
“The 24400 strike has significant call open interest, followed by 24500 strikes. On the put side, 24300 has significant open interest, followed by 24200 strikes. This implies a trading range of 24180 to 24550,” he said.“For weekly expiry, OI PCR is at 0.95, and max pain is at 24300 strikes. While, for monthly expiry, OI PCR is at 1.44,” highlighted Shah.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: Pritesh Mehta, Lead Technical Analyst at YES Securities told ETBureau
Voltas: Buy| Target Rs 1625| Stop Loss Rs 1470
BEL: Buy| Target Rs 370| Stop Loss Rs 321
Manappuram Finance: Buy| Target Rs 240| Stop Loss Rs 203
F&O Strategy: Amit Trivedi, Vice President at YES Securities told ETBureau
Atul Future (25 July Expiry): Buy| Target Rs 7200| Stop Loss Rs 6600
Dr Reddy’s Laboratories (25 July Expiry): Buy| Target Rs 7000| Stop Loss Rs 6350
Expert: Nooresh Merani, an independent technical analyst told ETNow
IOC: Buy| Target Rs 190| Stop Loss Rs 170
LIC: Buy| Target Rs 1200| Stop Loss Rs 1025
SJVN: Buy| Target Rs 170| Stop Loss Rs 144
(Disclaimer: Recommendations, suggestions, views, and opinions given by experts are their own. These do not represent the views of the Economic Times)
