The Nifty future closed negative with losses of 0.34% at 25032 levels on Wednesday.
On the options front, the maximum Call OI is placed at 25,500 and then towards 25,200 strikes while the maximum Put OI is placed at 25,000 and then towards 24,000 strikes.
Call writing is seen at 25,500 and then towards 25,000 strikes while Put writing is seen at 24,800 and then towards 24,300 strikes.
“Options data suggests a broader trading range in between 24,500 to 25,500 zones while an immediate range between 24,700 to 25,200 levels,” Chandan Taparia, Analyst-Derivatives at Motilal Oswal Financial Services Limited, said.
“Nifty formed a bearish candle on the daily frame on Wednesday with losses of around 100 points and has been making lower lows from the last two sessions,” he said.“Now the Nifty has to cross and hold above 25,000 zones, for an up move towards 25,150 then 25,250 zones whereas supports are placed at 24,850 then 24,750 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: Jayesh Bhanushali, Senior Derivative & Technical Research Analyst, IIFL told ETBureau
CAMS: Buy| Target Rs 5010| Stop Loss Rs 4690
Tube Investment of India: Buy| Target Rs 4670| Stop Loss Rs 4380
Siemens: Buy| Target Rs 8230| Stop Loss Rs 7780
Expert: Kunal Bothra, Market Expert told ETNow
HPCL: Buy| Target Rs 446| Stop Loss Rs 426
Grasim: Buy| Target Rs 2845| Stop Loss Rs 2720
Deepan Nitrite: Buy| Target Rs 3120| Stop Loss Rs 2920
Expert: Nooresh Merani, an independent technical analyst told ETNow
LIC Housing Finance: Buy| Target Rs 700| Stop Loss Rs 610
Grasim: Buy| Target Rs 3200| Stop Loss Rs 2730
Bombay Dyeing: Buy| Target Rs 270| Stop Loss Rs 220
(Disclaimer: Recommendations, suggestions, views, and opinions given by experts are their own. These do not represent the views of the Economic Times)
